The DME industry is changing at an alarming rate, and if you’re not ahead of the game, you could fall behind. If you’re finding that you’re having trouble managing your business, having trouble identifying your profit centers, and suspect you are wasting time and money, consider switching to an ERP software system.
Here are five signs you need an ERP System:
How many different software programs does your business run on? If you’re like most DME businesses, you have different software systems running accounting, sales, inventory, billing, delivery and compliance documentation. These different systems mean that you’re adding minutes – sometimes hours – to every single order. When margins were healthy, that was fine, but now that margins are tight, every minute counts. Worse, your software systems probably don’t talk to each other, so you’re adding even more minutes with double entry. Time is money, and multiple software systems are a time suck.
To run a business in a competitive, tight-margin market like DME, you need complete and instant access to critical business information. What is your average sales margin? What are your most profitable products? What are your accounts receivable? How many claims remain under-worked every month? You need this information at your fingertips to remain competitive in this market, and you can’t access this information unless you have a single ERP platform that spans billing, sales, inventory, accounting and delivery.
Often the biggest sign that you need ERP software is that your accounting department is lagging. When employees rely on paper-based delivery documentation and spend hours every week manually entering them into different inventory and billing systems, you need to consider how much time is being wasted on tasks that could easily be taken over with ERP software. Along the same lines, if financial reports are delayed and take hours of preparation, an ERP solution will make a significant impact. With all financials in a single database, your billing, accounting and inventory staff don’t have to spend time cross-posting information and reconciling data manually. This will free up your accounting staff, making them more productive.
DME businesses are complex, but at their core is inventory. Without the right products in the right warehouse, in the right trucks, and with the right customers, you simply can’t run your business. Separate sales, inventory and billing data systems make it virtually impossible to know your inventory status in real-time. This leads to breakdowns in communication when customers are promised items that are out of stock, or delivery drivers are sent out with incorrect items. With an ERP system, staff in every department has real-time access to inventory data. Products can be seamlessly counted, loaded, sold, rented and ordered from a single database. Even better, you can quickly see the margins for every item.
Every software system that your business uses requires someone who understands it and can train employees how to use it. As your business grows across multiple software systems, you need a larger support staff to bug-fix, train on and administer all those software systems. Patchwork software systems require a team of administrators and trainers, and yet they still underperform. ERP systems require less oversight, because it is a single company providing your software business-wide, and you can quickly and easily deploy training, support and new features company-wide.
To learn more about Bonafide’s cloud-based ERP is the best solution for growing DME businesses, contact us to schedule a demo.
by Eddy Hsu
Mobile devices are used everywhere, but did you know that they can increase your delivery efficiency? Your drivers probably are already using a smartphone to make calls to clients and headquarters, so you don’t need to invest in new technology. Instead, just make sure they use their smartphones to support your business operations.
Bonafide offers mobile applications that allow your drivers to transform their vehicle into a mobile warehouse. They can stay connected to management systems at all times and vastly improve their efficiency.
Here are some ways that equipping your delivery staff with mobile applications will support your business goals:
Accurate inventory count
In most cases, you assign rental equipment in the warehouse to a specific client, and then if your driver arrives and realizes the equipment is the wrong size or is inoperable, he must take another trip or ‘scratch through’ the delivery ticket, making a mess of your paperwork.
A smartphone can transform your trucks into mobile warehouses, enabling drivers to deliver the right product the first time, and accurately and precisely manage inventory in real time. Your count is always accurate and the billing process can begin as soon as the product is delivered.
Drivers are famous for forgetting some document or another and failing to obtain a signature. With Bonafide, your drivers can utilize their smartphones as a documentation device. There is no chance for misplacing documents.
Once he has the patient set up and trained on all the equipment, the driver can review each item received and have the client acknowledge receipt on his mobile device. At that point the entire order can be billed and a claim filed from the headquarters. All of this documentation is HIPPA compliant, encrypted communication.
Add deliveries en-route
With drivers, time is money. You don’t want them making unnecessary return trips to the warehouse throughout the day if you can avoid it. Since the truck is a ‘mobile warehouse’ with a high performance inventory control system on board, your driver can load extra items on the truck in anticipation of additional orders being added to his delivery trip during the day.
You won’t have to wonder where your equipment is or worry about theft. Instead, with our bar coding inventory system, you will always know what is on your trucks, and can add delivery stops to any driver’s route at any time.
We can help you transform your trucks into mobile warehouses using our mobile technology and exclusive inventory control system. Give us a call if you would like to find out more!
by Michelle Tohill
No matter how confident you are in how you run your business, the phrase “you’re being audited” can strike fear into everyone. The idea of having a comprehensive analysis of your system is bad enough, but it’s even worse to think of the time that may be required to comply with the requirements of the audit process. Thus, although audits are very necessary parts of our healthcare reimbursement system, they are definitely considered a significant disruption.
Here are four ways you can avoid audits in the first place. Taking these steps will also ensure that you are fully prepared in case you ever do fall under the watchful eyes of CMS.
1. Verify eligibility up-front for every patient.
The ability to verify payment eligibility up-front, before you file a claim, is critical in maximizing your reimbursement rates and avoiding future audits. Additionally, if you went through the process of verifying eligibility, you have now created a paper trail documenting your system that will be helpful if you are audited. The right software system can make this easier by providing instant eligibility checks.
2. Review documentation to ensure proper ICD9/ICD10 & HCPC coding.
Before you ever file a billing claim, you should make sure that you have the proper coding. This is a time-consuming but necessary step to ensure that you are reimbursed appropriately for the services and products rendered. It will be a red flag if your coding is consistently off, as CMS may interpret that level of inconsistency as a part of how you do business.
3. Keep/scan your supporting documentation so that it is available if needed for an audit.
Always ensure that proper documents are being scanned and provided to the billing department. Dated screen shots provide a good source of documentation, but whatever your system, make sure your record-keeping is meticulous so that if there are any individual questions it doesn’t spark questions for CMS and lead to an audit.
4. Educate your staff on required documentation to meet medical necessity requirements.
No matter how great you are as an individual, or how knowledgeable you are of how to avoid audit, at the end of the day your staff could be the main weakness in your business if they aren’t fully aware of the documentation and coding requirements. Talk with them regularly and monitor their execution of your standards to ensure they are taking the steps necessary to avoid audit.
Michelle Tohill is Director of Revenue Cycle Management of Bonafide Management Systems and oversees all billing programs and processes. Her specialty is conducting AR audits to expose inefficient billing practices that fail to fully reimburse physicians for their work. She conducts AR audits and provides Bonafide customers with training and consulting on how to improve every aspect of billing and practice management to maximize revenue.
Q: Can I electronically submit my Medicare audits using Bonafide?
Bonafide has an Electronic Submission of Medical Documentation (esMD) electronic submission of Medicare audits module.
Many of our clients are spending time with Medicare audits. Because of this, we created an esMD solution. This allows you to submit Medicare audits electronically through your Bonafide system. This process shaves off quite a bit of time and shortens your reimbursement time, and the cost is only 5 cents per page! There are no other start up, sign up or maintenance fees.
Using Bonafide’s esMD to electronically submit your Medicare audits is easy:
1. Go to your Claim Filing screen and select the Medicare claim for which you would like to submit the audit.
2. You will see a new tab labeled esMD. Click on this tab.
3. The ordering physician information on the claim is automatically populated, but you may need to enter the Order Physicians License Number.
4. Enter the Case # from Medicare (this is the 30-digit Documentation Case ID Number from the audit letter).
5. Enter the ICN (the 17-digit Medicare claim number from the letter, including the “-“ separator).
6. Attach all supporting compliance documents in a single PDF file (this is something you will need to create ahead of time).
7. Select the appropriate “Audit Recipient/Payor type. Example: RAC, MAC, ZPIC, etc.movie streaming
8. Once all of this has been entered, simply click “Submit,” and your audit information for that claim will be sent electronically to Medicare/CMS.