Telamon's Business Process Solutions division assists durable medical equipment (DME) and home medical equipment (HME) companies stay lean in the competitive bid environment. As the squeeze tightens over the next 24-36 months, "payer" reimbursement cuts will drive down the maximum allowable charges by 20-30%. Medical equipment businesses need to adopt innovative solutions to ensure quick, consistent cash flow.
Survival in the competitive bid environment will require business skill and intuition about the medical equipment marketplace. Telamon offers a sound business solution directed at improving the management and tracking of required DME/HME documentation, such as Certificates of Medical Necessity (CMN's). Streamlining workflow improves cash flow by reducing the cycle time associated with HME/DME document management. Telamon transforms the document collection process into a virtual workflow solution dedicated to pursuing the required DME/HME documentation. Telamon's data entry clerks, project managers, and IT experts combined with cloud technology maintain receipts, audit, track, and alert duties while the clients' managers remain centered on the status of the documents. Telamon handles the mundane tasks while the client targets the revenue-centric responsibility.
Delivering value as profit margins continue to shrink is not a new challenge, however, for some medical equipment companies, the thought of outsourcing segments of the revenue cycle workflow seems daunting. The inhibition quickly disappears once the efficiency of the new approach kicks in. Business leaders see the value of shortening their longstanding accounts receivables or inconsistent payment cycles commonly associated with the medical equipment-billing paper chase.
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