Are you investing in the right technology?
HME providers can no longer afford outdated solutions that only provide billing tools and are not fully integrated with the rest of the business. With increasing compliance and regulatory demands in the healthcare industry, providers need support from the right technology model to grow and succeed.
The right technology platform should help improve operations, find new revenue streams, and support the growth and success of all areas of an HME’s business.
Here are 5 signs your current technology doesn’t support your business goals:
1. You can’t connect to the healthcare continuum
More referral sources are embracing the transmission of electronic referrals through their EHR system. Physicians may soon opt to send referrals only to providers that have interoperability abilities and are equipped to accept eReferrals, request eSignatures, and automatically share patient data and outcomes easily and thoroughly. It’s time to implement a strong technology platform to succeed in this new interconnected world. HMEs who act now will succeed, while those that continue using legacy technology may be left behind.
2. You use different systems that don’t integrate with each other
Technology systems that do not integrate properly can lead to delayed or lost data, decreased revenue and lost referral sources. Software should not only connect you to your data, it should enable you to see all areas of your operation in one place. This means greater real-time visibility into your business performance and a deeper insight into your business, helping increase your efficiency and ROI. Leverage the most advanced technology with Brightree’s cloud-based business management software and fully integrated solutions that will streamline your processes and improve efficiency
3. You rely on spreadsheets to run your operations
In the healthcare industry, errors can be expensive. HME organizations waste significant time and money using manual processes for documentation and compliance. More importantly, outdated techniques in a complex environment put organizations at greater risk of having patient data compromised. Leverage technology with Brightree®’s Document Management solution and our integrated Mobile Delivery Management to eliminate missing papers, spreadsheets, and sticky notes. These solutions can help efficiently manage your drivers and maximize productivity in the field. You may reduce your DSO by up to 30-40 % and will also have quick and intuitive access to electronic documentation, which is critical to the delivery, billing and audit aspect of your facility.
4. Your current billing system doesn’t offer features to help collect all you’ve earned
The extent to which you effectively manage your payment processes and have a handle on collecting past dues payments is an indicator of your business’ financial health. While intuitively this makes sense, you may be using a billing system with limited capabilities to help you stay on top of your outstanding A/R. To collect the maximum amount, you must be able to efficiently monitor the outstanding accounts receivable aging for each insurance company in your payer mix and you need an efficient tool to do so.
Built-into our core platform, Brightree Revenue Cycle Workflow (RCW) focuses on your outstanding A/R, providing a dynamic way to split up and manage A/R work without relying solely on fixed A/R Reports. RCW takes A/R management from static spreadsheets to real-time, interactive worklists. Without RCW, providers have to manually work a combination of areas based on job function. With RCW, providers can incorporate these areas into a single function for better visibility, efficiency, and accountability. Providers can auto-prioritize outstanding A/R based on the number of days outstanding, account amount, and then can even schedule follow-ups so their teams can stay on top of the work
5. Your software provider is not prepared for your organization’s future
Some technology partners may be able to handle your current needs, but are they prepared for your needs for the next few years and beyond? HME providers should consider what products and services a solution develops, and how they help with reimbursement changes, competitive bidding providers, and revenue growth. HMEs need a strong technology provider that stays on top of upcoming regulatory changes: one that works to create efficiencies that allow providers to streamline their operations and focus on their core business. —
It is imperative that technology enables you to grow, sustain and expand your business. Brightree offers the most advanced cloud-based business management software in the HME Industry. Many organizations rely on Brightree to help them focus on the things that matter most to their business. Take a step forward and join us for the journey towards sustainability and prosperity – your business will thank you.
Call us to set up your personal demonstration at 1.888.598.7797.
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