PROS:
· DME EXPERTS WITHOUT THE HEFTY PRICE TAG: Boost Advisory Group utilizes their deep industry knowledge and expertise to assist their clients through navigating the healthcare industry. Our team has over 70+ years of proven successful experience, where we have taken the time to recruit and hire knowledgeable experts in the field as assets to our business and yours.
· IMPROVED EFFICIENCY: Our team of professional’s work around the clock to ensure your business needs and client expectations are met to standard by handling your business like it’s our own, all while maintaining compliance. Our 24/7 work ethic combined with our knowledgeable experience, allows for us to provide better results for your business with improved timely reimbursements, fewer cashflow interruptions, reduced billing errors, and a stronger financial performance.
· LESS STAFFING NEEDED: By outsourcing a part of your business to Boost Advisory Group, you can cut down on cost internally and reduce the staff you would need to hire if you kept the project within your own company. By outsourcing to us, you only pay us for the work we do, there is no added cost of benefits, salaries, and unworked hours a typical employee would take on. Despite the decreased staff on your side, our staff offers flexibility, skilled expertise without the hassle of going through the hiring process and finding the “perfect” candidate, increase your in-house efficiency by sharing and dispersing the workload onto us.
· IMPROVED VISABILITY: By utilizing the robust reporting suite that Boost Advisory Group provides, our clients gain more insight into what is working, what is not working, drivers, cause and effect relationships and how to drive effective improvements to bill rates, collect rates, DSO, denial reasons, and bad debt management. Additionally, with Boost’s DME outsourcing services, you are assigned a dedicated account manager, and we provide weekly, monthly and quarterly business review meetings.
· IMPROVED QUALITY AND COMPLIANCE: By outsourcing to the DME experts at Boost Advisory Group, your DME business will benefit from improved quality and compliance. Our team of licensed clinicians, proven DME executives, and product specialist will ensure strict compliance with Medicare LCD’s, the PIM, payor guidelines, and regulatory updates. All Boost team members are subjected to annual fraud, waste, and abuse training, compliance training, and HIPAA training, in addition to, ongoing product and LCD training. We are tied into Medicare, Medicaid, and commercial payors and kept abreast of changes that may impact your business. We stay on top of compliance, so you do not have to worry about it.
· IMPROVED FLEXIBILTY: Boost provides onshore and offshore services, multiple pricing plans that fit your budget and provide the best solutions for your business, and 24/7 coverage to our DME outsourcing clients.
· IMPROVED LABOR UTILIZATION: With Boost Advisory Group’s DME Outsourcing services you no longer have to pay for non-productive hours (estimated by most to be at least 20% of wages), PTO, payroll taxes, benefits, training, human resource management, additional office space, workstations, software subscriptions, or additional management. No more paying for personal texts, calls, internet browsing, water fountain chats, attending weekly trainings or meetings, paid days off, etc. With Boost DME Outsourcing services you only pay for actual work completed. Our services are 100% performance based. Our pricing is 100% transparent.
CONS:
· COMPLETION OF WORK: Outsourcing can be a scary task, one that many try to avoid due to the risk associated with handing off your business to another company. However, Boost Advisory Group has enhanced the experience of outsourcing by making it feel and look like your company is doing the work. Our enriched skill set enables us to provide better quality work at a faster turnover rate. We will not lie to you, the fear that your business’s reputation might alter is true, but unlike with a typical outsourcing company, Boost Advisory Group will only alter it for the better.
· LACK OF ORGANIZATIONAL LEARNING: Many businesses worry that they will lose the knowledge and skillset associated with RCM if they were to outsource it to another company. However, Boost offers an array of services across all categories within the healthcare spectrum on training and facilitating your staff and processes to be completely optimized to the six-sigma level. The risk associated with losing the skill set, allows you to focus on core business activities that are crucial to your success, while we manage, optimize, and maintain the business processes that you trust us with.
· COST-EFFICIENCY: A common question associated with outsourcing is “Is this really going to cut cost?” and the answer isn’t always a definitive “yes” when looking at outsourcing as a whole. Many outsourcing companies are known for adding on hidden cost and up-charging clients without adding any value to the company. At Boost, we make it our mission to provide value-added activities to your business by offering a 100% satisfaction guarantee. We have revolutionized the industry by cutting out the risk associated with spending a large sum of money, without the return.