Work smarter, not harder
For HME providers who are struggling to maintain a healthy cash flow and generate a profit, it’s more important than ever to work smarter – not harder – in order to stay afloat despite low reimbursement rates and shrinking margins. The profitability of your business is dependent on improving business efficiencies, identifying new revenue streams and taking steps to be more connected with the healthcare ecosystem.
Here are tools and features that can help you work smarter – not harder:
More and more referral sources are embracing the transmission of electronic referrals through their EHR system. In the near future, physicians may opt to only send referrals to providers who are equipped to accept e-Referrals, request eSignatures, and automatically share patient data and outcomes easily. MyForms, Brightree’s web-based documentation and work management solution, allows you to:
Efficient Response to Audits
HME businesses face increasing numbers of pre- and post-payment audits, which can be very stressful and costly. Without a sound strategy and technology platform for maintaining accurate and retrievable documentation, an audit request can disrupt operations and put your organization at financial risk. Successful HME providers rely on Brightree’s Electronic Audit Response. As part of the Brightree® Document Management solution, users can collect and submit documentation electronically in response to CMS audits, and track status of each audit through a safe and secure application. With the Electronic Audit Response solution, providers can cut the time they normally spend chasing down documents and submitting paper-based responses to CMS, in half.
Optimize your Resupply
Successful resupply programs reach the right patient at the right time with the right products. With Brightree® Connect as your resupply program, providers can launch automated, intelligent patient contact campaigns to reach that goal. With Brightree Connect, providers can:
• track patients that are eligible for resupply • increase communication with customers • improve clinical outcomes • reduce denials by as much as 50%, and • even see an average $50 uplift per sales order.
Once a patient is compliant, they automatically get enrolled for resupply. This gives you the opportunity to optimize your resupply, increase the value per order and drive long-term compliance. Reinforcing compliance also strengthens the relationship with your referral sources as you can assist them in delivering successful patient outcomes, not just episodes of care. You get to become a reliable partner for their care team!
Having the right amount of frequently ordered HME supplies is critical for providers. Not having enough of an item in stock that of your patients going may go to another provider. Having too much of an item increases the likelihood of it remaining on the shelf beyond its prime, or past its expiration. The right inventory management software can help provide visibility into your inventory. Plus, with functionalities such as ePurchasing, providers can order directly from major manufacturers and distributors, view item availability and pricing in real time, perform one-touch drop shipments, and receive automatic confirmations, including delivery tracking. These functionalities can help decrease inventory and administrative costs, while improving cash flow and equipment delivery times to patients.
Collect what you’ve earned
Outsourcing is a common approach for providers who face the challenges of patient collections. Turning to outside help can be a great asset – if you find a solution that goes beyond sending invoices or moving patients to a collection agency. Brightree Patient Collections (BPC) gives providers like you an all-in-one solution complete with automation, best business practices, and a knowledgeable billing and collections team to get you paid, improve efficiency, and allow your staff to concentrate on higher payoff activities and patient care. BPC sends invoices that are simple for patients to understand, makes timely follow-up calls, and provides a fast and easy way for patients to set up automatic payments, pay online or over the phone. Brightree has identified all the reasons patients don’t pay and developed automation tools to get you paid faster.
“We’ve been on AutoPAY for 18 months, and we’ve gone from zero patients on AutoPAY to we now have 46,000 patients. Our AutoPAY collections are $900,000 per month. If we had those same patients on paper statements, we would have only collected $600,000. Our collection rate is well over 95%.”
– Dan Bunting, Chief Operating Officer, AeroCare Holdings
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