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Many of the DME products are disposables or require replenishment at recommended frequencies in order for the patient to maintain effective use. In many cases, HME/DME providers wait for the patient to inquire before fulfilling orders
The medical billing outsourcing market is on the surge. According to the research by Reportlinker, it is expected to grow from $2.17 billion in 2021 and reach 20 billion by 2026 with an annual growth rate (CAGR) of 11.5%. But is there any alternative for attracting third-party providers?
Following the recent announcement by the Centers for Medicare & Medicaid Services (CMS), starting with claims with a date of service on and after 01/01/2023 will drop the need for certificates of medical necessity (CMNs) and DME information forms (DIFs).
So, what does this mean for DME suppliers?
Healthcare is continuing to go home. The trend of moving care from the hospital to the patient’s home is undoubtedly impacting the home medical equipment industry. HME/DME providers are faced with increased demand from an aging population in the US for home medical equipment and supplies. These significant tailwinds continue to lead to increased patient volume and continued growth opportunities.
Successful patient collection strategies consist of better patient communication, automation, and flexibility while avoiding ineffective statements that don’t pay off.
The US’s home medical equipment (HME) market is expected to grow in the upcoming years. According to the Allied Market Research, its size is projected to nearly double from $11.6 billion in 2019 to $20.4 billion by 2027. The home medical equipment industry will be one of the fastest-growing markets.
Many HME/DME suppliers operating on dated technology platforms are limited to the capabilities of the systems themselves. Businesses struggling to bridge data from obsolete file sharing protocols or limited API functionality find themselves faced with repetitive data entry across systems.
As we see the healthcare industry digitalizing, automating operations in the HME/DME business can also be a good solution for resupply issues. Reliable HME/DME software connects all processes into one single platform that operates quickly and efficiently.
As we step further into 2022 after a dramatic 2020 and 2021, we see priorities for many HME providers are shifting. We discovered some interesting trends and want to share them with you.
