Medical billing for HME/DME provider businesses can be time-consuming and challenging for several reasons. Therefore, in-depth documentation is necessary to ensure claim approval. Given the fact that this is a complicated procedure, medical staff members always need adequate training in order to understand things correctly. At the same time, it is essential to review ... 
A chief financial officer (CFO) is a top-level executive who, as a financial controller, handles everything related to cash flow and financial planning. A CFO is often the highest financial officer in an organization and plays a vital role in the company’s strategic initiatives. The CFO is also in charge of taxation issues. The ... 
Tax duties are unique and essential for businesses to carry out to ensure they are legally compliant. Accounting and bookkeeping must always be performed properly and reliably to ensure accuracy during tax time. Professional accounting and tax services can help businesses ensure they remain compliant while helping them optimize their payment obligations, but do ... 
In the post-covid era, many companies and organizations around the world have shifted to a hybrid model of holding conferences. However, according to a report by AVIXA, less than 10% of conference rooms are equipped correctly. Thus, approximately 60 million offices are ill-prepared for productivity during conferences. Why is Optimized AV Critical Given the ... 
Many businesses today seek innovative ways to reduce expenses, given the recent ongoing high inflation rates reported worldwide, which included a 40-year-high rate of 9.1% in the United States in June. Using a virtual assistant service is a practical strategy for accomplishing this. A virtual assistant may help you with various tasks, including office ... 
Today’s market is filled with a significant amount of debate over multi-vendor eCommerce markets. On the one hand, a multi-vendor eCommerce marketplace or platform allows multiple sellers to showcase and sell their products and services. Conversely, an eCommerce website allows a single buyer and seller to connect on a common platform. How is a ... 
Most DME and HME providers know that medical billing accuracy and reliability are critical to business sustainability. However, the process is often complex and time-consuming and can lead to staff burnout. This is because the medical billing process requires staff to juggle high volumes of paperwork processing and document review work. This includes details ... 
Most businesses, regardless of their size, routinely face challenges such as: Outsourced professional assistance can help businesses address such challenges. At the same time, this can also help boost sustainability and scalability. There are many benefits to building businesses that sustain, thrive, and grow. Some of these benefits include: As more and more businesses ... 
Given the fact that digital adoption has increased considerably during the COVID-19 pandemic, audio-visual (AV) services have gained relevance across diverse industries. However, adaptability and innovation are the key to ensuring business sustainability and long-term success. In today’s dynamic economic landscape, it is important for businesses to ensure they are prepared to embrace change. ... 
Today, the eCommerce industry is booming rapidly as many more businesses continue entering the field and thereby boosting competition and promoting growth on a global scale. As a result, customers can opt for better shopping experiences, while brands need to pay greater attention to contemporary eCommerce trends. The eCommerce industry has evolved into a ... 
Today, eCommerce is undoubtedly the fastest-growing sector. However, it is also a very saturated industry filled with many giant, high-powered, and reputable firms. It is also rife with bitter rivalry and stiff competition. This means eCommerce websites must be technically robust to improve the customer experience and journey throughout the buying process. Typical online ... 
WooCommerce is unquestionably a robust eCommerce platform. But to increase its functionality and create a fully functional eCommerce store, you require some of the best WooCommerce plugins available today. Online store owners can expand their website’s functionality with plugins without considerable coding knowledge. You can easily install and configure plugins for your eCommerce store ... 
Businesses today can drive profitability through more efficient and streamlined processes. However, an HME/DME provider’s main business operations can be challenging and often extremely complicated. Aside from the pressure of ensuring the right customer experience and addressing a business’s needs correctly, difficulties may arise from multiple sources. These reasons can relate to sourcing medical ... 
A key step toward ensuring customers return to a website involves creating an unforgettable customer experience. For an e-Commerce business, sustainability begins with a casual visitor who may stay and explore a website out of curiosity or complete a purchase. For visitors, the web browsing experience can influence the decision to stay and browse ... 
HME/DME medical billing processes can be extremely complicated and often time-consuming for the in-house resources that manage the equipment provider business. Inaccurate or unreliable medical billing can quickly become challenging for the HME/DME provider. This can especially happen when claim denials pile up while the staff is prepared to quit due to burnout. Optimizing ... 
Efficient financial management is a fundamental trait to have when it comes to ensuring business profitability. Accounting and bookkeeping are the backbone of financial management and must be managed diligently and consistently. Modern accounting practices need to be leveraged for an ambitious and fast-growing company to address challenges effectively. Such challenges inevitably arise as ... 
One of the most important decisions for any business leader involves choosing the right eCommerce platform for an online store. This is because the platform will showcase the eCommerce store to the visitor. Whether it is about exhibiting relevant products and services in an eye-catching and attractive way or communicating about the unique features ... 
Starting a business can be easy. However, ensuring you maintain the momentum is vital to your business’s success. For a small business just starting out, however, it can be easy to fall into the trap of everyday routine. Nevertheless, as a business begins to grow, it begins to need more resources. Thus, key resources ... 
Meeting customers’ expectations has never been easy, especially in a business dynamic as cutthroat as eCommerce. If you are in the eCommerce industry, your website is your most vital asset. But why? According to the website statista.com, an eCommerce website allows you to reach an estimated 2.05 billion digital consumers globally. Given the fierce ... 
Medical billing is a complicated process. It usually involves carefully reviewing many documents and assessing patients’ eligibility for insurance. Payment posting, or cash posting, is one of the processes within medical billing. This process is ultimately used to decide whether the DME or HME provider will get paid. Payment posting gives HME and DME ... 
Must-have Item for Your HME Provider Business The hectic pace of life today has made it necessary for many new mothers to buy breast pumps. Thus, these devices have become extremely popular recently. A report overview by Grand View Research estimates that the global breast pump market, valued at USD 1.84 billion in 2021, ... 
Accounting plays a critical role in any business’s financial health and overall sustainability. Therefore, it is important to understand how this field adapts to emerging changes. This is especially important with regard to technological advances around the world and across industries. Why is tech adaptation an essential skill for accountants? Online reports say the ... 
Many businesses are launched based on a passion and a desire to innovate. However, not having adequate help and support for such businesses can threaten business sustainability. Most startup business owners rely on multitasking to achieve their day-to-day goals. However, multitasking may not always be beneficial and is never as effective. Additionally, multitasking can ... 
Business bookkeeping and accounting are key components of business sustainability and success in virtually any industry. Therefore, ensuring reliable accounting is key to sound financial health for any business. This is also why correcting errors in business accounting (also known as catch-up) is so important. Here are some of the reasons why it’s critical ... 
Audio Visual (AV) over Internet Protocol (IP) is a convenient way to stream audio and visual content over networks connected by decoders and encoders. According to a report by Market Watch, the AV over IP market is expected to grow at a CAGR of 3.8% during the forecast period 2022-2028. Whether your business is ... 
If there’s one thing that is highly important to customers today, it’s the shopping experience. Therefore, if we want to create a truly great eCommerce shopping experience for users in 2023, let’s get started right away! Customers have grown accustomed to buying almost everything online, including clothes, household items, and just about everything else. ... 
The eCommerce industry has seen a massive boom over the past few years and shows no sign of slowing down. According to JungleScout, Amazon’s total revenue was $469.8 billion in 2021. Additionally, the net income Amazon earned from its online retail business in 2021 was $33.36 billion, which marked a $21.3 billion increase from 2020. It ... 
Growing your team with the right people is crucial because of the effort and value they add to project and client management. The success of your business relies on good employees, including (and especially) accountants. Treating employees with the utmost respect and giving them the best workplace would allow them to improve their productivity. ... 
Using robust, fool-proof revenue cycle management (RCM) practices can help ensure HME, and DME providers consistently stay profitable and growth-oriented. Yet, effective revenue cycle management demands an in-depth evaluation of documents. This includes a close look at insurance eligibility so that claims are never delayed or rejected. RCM and medical billing are critical to ... 
These days, businesses need to work harder than ever to ensure continuous sustainability and profitability. Therefore, an all-hands-on-deck approach is critical for seamless operations and to ensure timely deliverables. Furthermore, as individuals work on more innovative devices, work is no longer limited to the office workplace. A pre-Covid CBS news report reveals that around ... 
Examples of medical equipment include hospital beds, oxygen and breathing apparatuses, wheelchairs, and machines that can measure blood pressure. Both durable medical equipment (DME) and home medical equipment (HME) providers typically deal with the process of selling and renting medical equipment. Although there aren’t too many differences between DME billing and HME billing, some ... 
Businesses are not always easy to start; most startups begin as simply a dream. The U.S. Small Business Administration website details the process of building a business from the planning stage. However, there is no easy solution to ensure business survival and success. No matter what, the passion that helped a business begin is ... 
The earliest forms of accounting date back to ancient Mesopotamia. In those times, ruling leaders trusted and highly regarded individuals who oversaw financial matters. Today, accounting is a significant field with millions of CPAs in the world and a shift to the customer experience. Nowadays, individuals who pay for a service want the best ... 
Protecting your personal and business data is essential in today’s technology-driven world. It does not come as a surprise that most of the products and services we utilize today are embedded with high-end security measures. Therefore, cybersecurity companies constantly work behind the scenes on security patches to improve protection of confidential and otherwise sensitive ... 
Are you overworked due to the increasing demands of your business? Managing clients, practice management, and business development demand tremendous work and time. These challenges can hinder the growth of your business and potentially cause you to lose business to competitors. To streamline business demands and work towards increasing revenue in the current market, ... 
Construction projects are excellent examples of projects that require collaboration for successful execution. A Finances Online report illustrates how, aside from construction laborers, the US construction industry also employs carpenters, electricians, plumbers, painters, and paper hangers. Without robust collaboration among all teams, the likelihood of reduced errors and costs is slim. The same applies ... 
According to an online report by Research and Markets, the global medical billing outsourcing market is projected to grow at a compound annual growth rate of more than 10 percent over a forecast period of 2020-2027. The report also noted some emerging trends, including the rising use of IT resources in the healthcare sector. ... 
In today’s world, running a successful accounting firm is a challenge indeed. It is about empowering employee resources, optimizing the latest accounting technology, and allowing your internal team to focus on lucrative tasks. Such practices help you provide comprehensive solutions to clients like business evaluation, financial management, and tax planning. Additionally, accounting processes are ... 
Sometimes, you may feel like your business’s management team or other leadership teams cannot meet current market demands. Consequently, you may consider expanding your team to help your existing business grow. However, team expansion doesn’t necessarily have to be expensive in order to yield positive results. Adding resources to the team is always beneficial. ... 
Durable medical equipment (DME) providers often wait for service reimbursement, affecting the revenue cycle. Several factors affect the revenue collection process: calculations, documentation, manual errors, and other delays in filing claims, among others. Considering low reimbursements, attrition, and other industry factors, DMEs must focus on improving the DME billing process. Increased efficiency will help ... 
Today, we live in a world where technology comes to our aid for nearly every need. The latest technologies help facilitate the process of automating regular tasks and improving users’ overall standards of living. The impact of technology is widespread and significantly impacts individuals and businesses across the globe. Every business relies on technology ... 
In today’s world, businesses have the potential to harness state-of-the-art technology designed to allow professionals to execute specific tasks right from their comfort zone. For example, multimedia files can be shared securely by using tools like Dropbox, Google Drive, and Microsoft One Drive, all of which allow a team to make live changes without ... 
These days, audiovisual (AV) technology is increasingly adopted globally throughout the corporate and industrial landscape. The increasing adoption of AV technology across industries and usage patterns proves how global ways of working have changed. Hybrid workforces may soon become more common as workers demand more workplace flexibility and variable work hours. To cope with ... 
These days, AV technology has finally come of age. Effective communication depends on how effective your AV technology is. Also, effective communication plays an essential role in delivering accurate information. Even a tiny interruption can alter the intended message. It is essential to ensure that content is effectively and comprehensively communicated. Therefore, it is ... 
BIM or Building Information Modeling is an intelligent 3D model-based process that uses digital 3D models during a construction project. This process creates a coordinated digital description of every aspect of the asset built, using appropriate technology. Building Information Modeling (BIM) helps create a digital structure of the building before being built physically. 3D ... 
Mistakes in medical billing can jeopardize the reputation of your medical practice and hurt patient loyalty. The trust deficit created due to inaccurate medical billing can be irreparable. According to the 2019 Patient Payment Technology Report, based on a survey of 1000 U.S. healthcare consumers, only 33% of consumers expressed confidence in the accuracy ... 
Analytix, a leading medical billing solutions company, joins the Pennsylvania Association of Medical Suppliers (PAMS) as a gold member. The membership in this elite group enables Analytix to help independent HME and DME practices achieve high billing performances as well as drive solutions to the Pennsylvania HME industry. As the oldest state association of ... 
As most providers can attest, when running a healthcare practice, accurate patient billing is critically important. Billing errors can lead to severe consequences, including a loss in revenue, increased claim denials, costly reworking of claims as well as heavy fines and penalties. It is estimated that a staggering 80% of medical bills contain errors. ... 
Analytix joined the American Association for Homecare (AAHomecare) as an affiliate member. AAHomecare is the premier nationwide advocacy group representing providers of home medical or durable medical equipment and services. The AAHomecare Association advocates on behalf of the entire homecare community in legislative and regulatory arenas at the federal and state level. Its members ... 
Prior Authorization (PA) can be a frustrating and time-consuming process. In fact, 86% of physicians describe the administrative burden of prior authorization as high or extremely high. 90% of healthcare providers reported a treatment delay caused by Prior Authorization. Of these, 60% said it took at least one business day to receive a reply, ... 
Claim denials have become a fact of life for HMEs/ DMEs yet studies show that up to 90% of claim denials are preventable. If proper care is not taken, medical billing errors may arise, leading to delay in payments, delinquency in claims, and eventually patient disappointment. Quick and accurate verification of a patient’s eligibility ... 
High AR (Account Receivable) days are red flags that can negatively impact the bottom line of your practice. According to hospital benchmarks, AR days for facilities are 47.5 days, and anything above that means less money to hire quality staff, fewer margins, and capital for expansion. Regular, proactive follow-up of outstanding claims is critical ... 
Billing errors are not only bad for patients but also for medical practices. It’s critically important for healthcare providers to minimize any coding and processing errors to increase their revenue. Frequent claim denials and negligence may also trigger billing audits and investigations which may not only damage the HME/ DME’s reputation but even attract ... 
Claim denials can be frustrating for any medical practice. They not only lead to high administrative costs but also impact your reputation as a reliable healthcare provider. In addition, appealing denied claims can be a time-consuming process, straining an already overworked administrative team. We identified the 7 most common reasons for claim denials to ... 
Insurance verification is the first and most significant step in the medical billing and coding process. Today’s continually changing and increasingly complex healthcare environment requires, more than ever, close attention to validating coverage, benefits, co-payments, and deductibles. Thus, it becomes crucial that medical care providers understand the insurance verification process and its importance in ...