Growth and innovations within the home medical equipment (HME) industry are driven by an expanding base of health-conscious consumers, creating unprecedented opportunities for providers nationwide. However, with these opportunities come new administrative challenges. Evolving billing guidelines, complex documentation, and coding requirements frequently result in errors and claim denials. 

In this scenario, what you need is a well-trained HME billing staff who can handle all your administrative tasks, so that you can focus on patient care.  

But the dark side of the moon is consistent staffing shortage and skyrocketing labor wages. 

The outcome? 

A crooked HME billing process and disrupted cashflow which is leading practices towards financial and functional instability. 

The Case of Staffing Shortage  

During the epidemic and when the public emergency ended, there were a lot of predictions about possible shortages in the healthcare workforce.  

According to a Mercer Consultancy report, there would be a 100,000-person shortage by 2028. Population centers such as California, Texas, and Pennsylvania are expected to weather the storm since their labor supply is expected to be greater than their demand. However, severe skill shortages are anticipated in places like New Jersey and New York.  

This will create more pressure on the existing workforce and there will be more severe cases of burnout, and the HME sphere is no exception.  

With the upcoming changes in policies, billing and coding guidelines, reimbursements regulations, the consistent staffing shortage is making it difficult for the providers to sustain a defined HME billing process and optimize revenue.  

The Latest Staffing Challenges 

To accomplish HME billing and coding tasks you need a specialized skill set and knowledge. As per the Bureau of Labor Statistics, the annual wage of an in-house billing staff is $ 62,530. This entails a substantial amount of your revenue which is concerning.  

Staff burnout is nothing new in the healthcare industry. Indeed, according to the National Academy of Medicine, burnout among healthcare workers reached crisis levels, with 45–60% of medical students and residents and 35–45% of nurses and doctors exhibiting symptoms of burnout.  

Unaddressed staff burnout creates a corrosive cycle, leading to increased employee turnover and decrease supply considering the demand.  

While numerous workers are leaving the sector considering inflexible hours and demanding schedules, the existing employees are struggling more with the current administrative intricacies.  

How to Solve HME Billing Staffing Issues? 

Staffing shortage is directly impacting the financial and functional stability of the practices. To prevent errors in your HME billing process and sustain your staff you can consider the following strategies- 

  • A training and education structure for the current and newly recruited staff members 
  • Decide on relatively low wages by comparing the company's payroll with the contracts of its competitors 
  • Lays down an imperative to create incentives to attract a new hire 
  • You can produce work-from-home jobs if possible 
  • Outsource your billing and administrative tasks from a revenue cycle management company 

How an Outsourced HME Billing Company Can Help 

Common misconceptions of outsourcing RCM services include losing existing staff, losing control over revenue cycle, lacking transparency within the overall process, higher costs for navigating ROI and so on.   

An outsourced HME billing company have their own front and back-office work, a dedicated team handles them efficiently. These professionals utilize superior technology to reduce revenue cycle's turnaround time and remain updated with the current coding and claim submission guidelines.  

Through outsourcing, you can avoid common pitfalls such as documentation and coding mistakes as well as claim denials, which would imply more revenue generation in practice. In an effort to lower documentation and coding errors, claim denials, and increase practice revenue, an increasing number of HME practices are using outsourced medical billing and coding services. Invest in a legitimate RCM firm that can increase your return on investment and preserve your company's financial stability.  

Ref Link: 

https://www.mercer.com/en-us/insights/talent-and-transformation/attracting-and-retaining-talent/future-of-the-us-healthcare-industry/#download 

https://www.bls.gov/oes/2023/may/oes433021.htm