Running an HME business is rewarding…and challenging. Providers strive to serve their patients well, especially amid the COVID-19 crisis, industry-wide reimbursement cuts, and rising labor rates.
Issues like these negatively affect your HME billing employees. Morale may be low. Churn may be high. Workloads may be extreme. Simply put, your team is overworked and understaffed.
Does this sound familiar? If so, HME outsourcing may be right for you. But first, let’s dig into the challenges you face so that you can begin to address them.
You might need HME outsourcing if…
Are you running a leaner team these days? Your employees might frequently complain about their workload – and with good reason.
According to Homecare Magazine’s recent salary survey, 47% of HME providers did not plan to hire new employees in the new year. At the same time, 24% of these providers had reduced their staff and 44% had staff that remained roughly the same.
Since the release of these results, the coronavirus has taken its toll, likely increasing staff cuts and ceasing new hires.
An increasing workload and decreasing workforce create the right recipe for turnover.
Employee churn is the overall turnover of your team as current employees leave and new employees are hired. When these employees move on in search of less stress and more pay, the remaining team can struggle to keep up. This is especially true in the current COVID-19 climate.
What happens next?
Your team might fall behind on its A/R or denials or struggle with cash posting. You might be backlogged in the front office, too: eligibilities, prior authorizations, and resupply programs. As a result, you might need to pause your resupply program due to the high volume of orders.
When you choose HME outsourcing with Prochant, you build a partnership that works on these problem areas in your HME revenue cycle. Over the past two decades, Prochant has helped hundreds of HME companies improve their metrics, team morale, and businesses overall.
Our client, Steve Mamangakis of Physicians Choice, says, “Working with Prochant, we have gone from 43% accounts receivable (AR) over 90 days to just south of 13%. In this audit rich environment, this result is phenomenal.”
If you are ready to get your revenue cycle back on track, contact us today!
Prochant is the nation’s leading HME billing and process outsourcing company. Our highly-skilled team helps providers become more profitable by outsourcing or enhancing front- and back-office processes. We rapidly implement changes and proactively monitor metrics to ensure client success. Headquartered in Charlotte, North Carolina, we work with top medical equipment providers and health systems.