On July 1, 2016, the changes that CMS implemented to the durable medical equipment and prosthetics, orthotics and supplies (DMEPOS) went into full (100%) effect.
The impact of these fee changes on DME businesses cannot be overstated. While DME businesses are putting in just as much work to serve just as many patients, they are seeing their reimbursement rates drop by up to 50% overnight.
As a business owner, this is the time to look very closely at your business expenses to make sure you have minimized them. Without business process cost reductions, you will very likely end 2016 with a loss, even if it appears that your revenue is increasing.
Now is the time to pay careful attention not just to your gross revenues, but your net revenues based on reimbursement. That is where you will see the significance of CMS’s recent changes.
In an effort to support the DME industry, Bonafide is offering complimentary A/R reviews and advice to support each and every DME operator in maximizing their reimbursement rates this year and beyond to avoid the crippling effects of these fee changes.
Contact the team at Bonafide today to discuss our proven solution in securing years of future business success for your business.