By 2025, the orthotics billing as well as the prosthetics billing market is expected to reach more than USD 12.28 billion according to a recent market research. In short, the demand for wrist braces, arm braces, spinal orthotics, heel casts, walkers etc are going to be consistently in demand; exhibiting a range of 5.1% CAGR during the forecast period.
Today the reason for such increase not only depends on only factors like the increasing incidence of sports injuries but the rising incidence of osteosarcoma and expanding geriatric population base etc equally contributes a large sector of people in driving the market expansion equally. In fact, according to the market prediction and studies, the orthotics market today has risen from 962 million in 2017 and is expected to reach 2.1 billion in 2050 and the reason mostly being the geriatric population. The geriatric population in fact is more susceptible to conditions such as osteoporosis and osteopenia, making them common users of various orthopedic solutions.
However, despite such huge demand, healthcare practices end up with delayed reimbursements largely due to errors in claims.
Orthotics billing dilemma :
One of the major reasons for denials in orthotics billing is improper claims management. With claims not being précised, orthotics billing encounters a lot of challenges. Staring from mislaid information to coding errors, most of the denial ends up with missing information as well – missing of the accident date, medical emergency and instigation etc.
The Sunknowledge help :
Taking care of all your pre and post orthotics billing operations and scrutinizing all claims for missed fields, Sunknowledge experts excel in providing customized RCM solutions. Ensuring direct doctor office follow up, proper data entry, eligibility verification, claims management and AR management while working on the highest first pass collection rate; our experts further ensure timely and accurate claims submission. Saving you from wasting money, time and resources, we additionally assist you in reducing the operational cost by 80%.
So, if you are looking to improve your revenue cycle productivity, Sunknowledge is here to help at a service charge of $7 per hour. Delivering you a professional help, we are here to provide you with the essential edge you need to cut losses and improve your cash flow.