A Durable Medical Equipment License, sometimes abbreviated as DME License, is critical part of most medical practices. Having a DME License will increase practice revenue, improve patient care and provides additional non-practice revenue opportunities. I am writing you to discuss the benefits of dispensing durable medical equipment directly to your patients and the process of acquiring a Durable Medical Equipment Regional Carrier (DMERC) license.
Durable medical equipment includes all sorts of medical supplies, from hospital beds to electric wheelchairs to basic braces. Your practice type will help determine what types of durable medical equipment you will want to stock and dispense. Regardless of what type of medicine you practice, rest assured dispensing relevant DME products will help you and your patient equally. I will tell you a little about how having a DME License can increase your practice revenues without adding expensive equipment, training or overhead to your practice.
Three reasons you should have a DME License.
1. Increase Practice Revenues
A DME License provides a wide range of revenue generating opportunities for your practice. It allows you to dispense durable medical equipment to patients and collect reimbursements from Medicare. Providing diabetic supplies to your existing diabetic patients provides an additional revenue stream without adding additional patients or patient support costs. Lastly, you have the opportunity to become a DME wholesaler and or retailer.
2. Unlimited Business Potential
As a physician, your practice is limited by many factors. Geography, specialty, socioeconomics and insurance company policies are just a few limiting factors. Obtaining a DME license creates unlimited business opportunities and alters the effect of limiting factors on your practice. There are many successful business models in the DME field.
3. Improve Patient Experience
Patient satisfaction is directly tied to the level of convenience they experience during an appointment. The last thing a patient that is experiencing an injury or symptoms wants to do is visit multiple facilities to complete diagnosis and treatment. By dispensing durable medical equipment at your location during the patient visit, you reduce patient stress. Adding convenience and reducing visit time requirements equals better care and increased patient satisfaction.
Process of acquiring DME License
The process of acquiring a DME license is a complex process that takes from six to nine months to complete. Below is a basic outline of the timeline.
Step 1: The first step in the process is gathering all of the required information for the application process. Know the following information to start the process.
- Doctor’s Full Legal Name
- Legal Business Name
- Physical Address (No PO Boxes are allowed)
- Proof of Liability Insurance
- Office Hours
- Complete Information on All Partners (if not sole shareholder)
- State and Federal ID Numbers
- NPI Number
- State License Number
- Proof of Incorporation
Step 2: Once you have submitted all the required information, you will start with the extensive application process and verify the provided information is accurate. Inaccurate information on an application can delay the issuing of your license.
Step 3: Once you have verified the accuracy of the information and completed the application, you will start with the process of submitting the application to the appropriate licensing authority.
Step 4: Once your application is received by the licensing authority and verified accurate and complete, a physical inspection of your facility is scheduled. This generally takes four to eight months from the submission date.
Step 5: The last step is issuance of your DME license.
Why You Need a DME License?
Many doctors already dispense supplies and durable medical equipment from their offices for patient use. Others generally write a prescription and send the patient to a DME provider. This is a lost source of revenue for the practice. Having DME and supplies available in the office is very convenient for patients and is a great way to increase patient satisfaction.
The Patient experience is much better when they can get diagnostic tests in the office. This eliminates the need to go to another facility to receive those additional services and reduces the need to take additional time off work, etc. Simply put, it is much more convenient for the patient. The same applies to dispensing durable medical equipment. It is convenient, saves time and improves the overall patient experience. By dispensing durable medical equipment in your practice, you also have some level of control over the quality of the items you dispense, ensuring your patient is getting the device you want
Conclusion
Having the ability to dispense durable medical equipment to regular insurance and Medicare patients creates an additional revenue stream without having to add long term expenses. As a doctor, you can only see so many patients and as insurance companies continue to reduce reimbursement rates, per patient revenue will continue to decrease. Durable medical equipment dispensing will allow you to offset some or all of that lost revenue and in some types of practices can dramatically increase practice revenues.
I honestly believe that dispensing durable medical equipment to your patients will improve patient care and increase practice revenues. Adding a DME License has the potential to dramatically increase the long term profits of your practice.
Please call me at +1(302) 613-1356 to discuss how a DME License can help your practice.