Page 26 - HME Business, March 2020

This shows some of the outreach details that a provider can drill down to using existing software tools as part of their homegrown RCM.
inventory, transactions and documentation, which helps with ongoing tax accounting. Tracking transactions from start to finish also makes it easy to pull up records in the event of an audit.
“All audits are trying to catch you out for your documentation. The majority of people that fail an audit, it’s because they can’t find it. They can’t get it together in a timely fashion,” Anderson says. “In terms of what your data can do for you, [a DME-specific system] really would allow you
to do some pre-auditing yourself before audi- tors come in and shut your business down. It
will show where your system and staff are falling down, where you can make those processes a little more efficient.”
WHAT DOES IT TAKE?
Managing your own RCM isn’t free. It takes the right tools. Most DME software is offered on a site-license agreement, which allows a specified number of users to access the programs. That usually means a monthly fee that depends on the software capabilities and the number of users. There will be some staff training time if they are new to the software.
You also have to consider where your data will reside. There’s a range of solutions from hard
storage on your premises to the increasingly popular cloud. Your software provider can help you decide which option makes the most sense for your business.
“To add on a report builder or a data ware- house, there will be an additional cost,” Anderson says. “If your rep says there’s not, look over your contract.”
OVERLOAD! LET SOMEONE
ELSE DO IT...
If all of this sounds like more tech anxiety
than your business can handle, outsourcing is always an option. With that choice, the vendor essentially takes over your billing system from orders to collections, and you can monitor how everything is going. You’re still in control of your business and day-to-day operations, but someone else is managing most of your claims and billing.
Either way, you can’t afford to ignore all that data buried in your back office. “Providers that are really winning with customers have smoothed out that process,” Anderson says. “The key to that is looking at how it is already going.” n
Holly Wagner is a freelance writer covering a variety of industries, including healthcare.
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