Durable medical equipment (DME) is a type of therapeutic equipment that is recommend by qualified medical professionals to individuals who have certain medical conditions or illnesses. DME billing does not cover equipment used for patient convenience or beyond acceptable medical necessity. Durable medical devices like nebulizers, ventilators, dialysis machines, etc, are a great example. Most DME are design to provide therapeutic advantages for individuals with chronic medical disorders.
Three reasons for getting a DME licence
- Boost practice income
A DME licence offers your practice a variety of ways to generate income. You can give patients durable medical equipment and get payment from Medicare at the same time. Giving diabetic supplies to your current diabetic patients creates a new revenue stream without increasing costs. Finally, you might choose to work as a DME merchant or wholesaler.
- Endless Business Possibilities
Your options as a doctor are constrain by a variety of things. Only a few restrictions include geography, specialisation, socioeconomics, and insurance company rules. The impact of restricting constraints on your profession is change by obtaining a DME licence, which also opens up limitless commercial options. In the DME industry, there are several profitable business models.
- Enhance the patient experience
Patient satisfaction is closely related to how convenient they find a visit to be. When a patient has an injury or other symptoms, going to various institutions for diagnosis and treatment is the last thing they want to do. Reduce costs by dispensing durable medical equipment at your facility while the patient is there. Better treatment and higher patient satisfaction are the results of adding convenience and cutting visit times.
How to obtain a DME licence?
A DME licence can be obtained through a difficult process that takes six to nine months to complete. The timeline’s fundamental structure is shown below.
Step 1: Getting all the data needed for the application procedure is the first stage in the process. To get the process going, be aware of the following facts:
- Full Legal Name of the Physician
- Legal Company Name
- Physical Location
- Liability Insurance Documentation
- Working hours
- Detailed details on each partner (if not sole shareholder)
- Federal and State ID numbers
- State License Number NPI Number Proof of Incorporation
Step 2: Following the completion of the rigorous application procedure, you will start to check the accuracy of the information you have supplied. The issuance of your licence may be delayed if an application contain inaccurate information.
Step 3: After confirming the information accuracy and finishing the application, you will begin the process of sending it to the relevant licencing body.
Step 4: A physical examination of your facility is on plan when the licencing authority receives your application and confirms that it is correct and comprehensive. After submission, this typically takes four to eight months.
Step 5: getting your DME licence issued.
Providing durable medical equipment to patients with standard insurance and Medicare generates more income without requiring additional long-term costs. You can only see so many patients at once, and as long as insurance companies keep lowering their payment rates, per-patient income will also keep declining. Dispensing durable medical equipment will enable you to make up part or all of the money lost, and in some types of practises, can significantly boost practise revenues.