India Pharma Outlook Team | Saturday, 21 May 2022
The 2020s changed the home healthcare industry forever. The Home Medical Equipment (HME) segment of that industry is under more strain than ever. The increase in demand coupled with staffing shortages revealed critical faults in the billing process for HME providers. Prochant, with over 20 years' experience in Revenue Cycle Management (RCM) and deep roots in the HME and DME (Durable Medical Equipment) space, secured a key partnership with Van G. Miller & Associates (VGM) to be the member service organization’s official partner for focused billing solutions.
“I have been involved with VGM since 2003 and experienced first-hand the invaluable services the organization provides to the HME field,” commented Mathew Mammen, CEO of Prochant. “As experts in RCM for the HME, we feel a responsibility to be as present and accessible to HME providers. This partnership with VGM will provide exactly that. Our international business is wholly-owned, with domestic leadership and global resources providing a truly unmatched level of expertise and service.
As technology leaders, we maintain HITRUST CSF certification, the gold standard for HIPAA compliant security certification. Our goal is to show VGM members fast, secure, and efficient ways to automate their RCM processes, spend less time buried in paperwork, and more time making lives better.
” Experts predict the HME industry growing 6.8% CAGR by 2027. (Allied Market Research) Meanwhile, HME providers are struggling with an industrywide staffing shortage from COVID-19 quarantines and changes in work culture. “Staffing is precarious already, that an absence is devastating to workflow,” wrote one respondent to a recent HME News poll.
“We can only care for customers; billing is waiting. Our staff is also very sick and out for two or more weeks.” (HME News) “Prochant has forged a great reputation in the HME revenue cycle management marketplace and we couldn’t be more pleased to partner with them to bring cost-effective billing solutions to VGM members,” said Scott Owen, Senior Vice President of Contracting for VGM. “Connecting our community with Prochant is more important than ever due to significant labor shortages coupled with rising labor costs.
Prochant gives members access to a hybrid workforce of domestic and global labor, providing labor cost-savings.” Prochant’s partnership with VGM, effective March 1, 2022, signals a key step as the HME industry modernizes its billing practices and rises to meet the demands of a growing population in need of safe, efficient, and affordable home care.
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