In case you are about to start your own non-emergency medical transportation business, one of the primary things you would like to find out is exactly how much to charge for every trip and set your NEMT rates. This could appear to be a simple job; however, much thought goes into determining the right NEMT rates. If you are dealing with this scenario right now, we are here to help you choose NEMT prices that are most appropriate as well as advantageous for your NEMT business. The fair NEMT pricing will enable you to attract a wide range of clients, allowing you to gain more profit in a short period of time.
Are you ready to determine the most appropriate Non-Emergency Medical Transportation rates for your NEMT business, which benefits you as well as your clients? Let us help you!
Well, NEMT stands for Non-Emergency Medical Transportation. It is a Medicaid program that offers transit facilities to healthcare service providers for individuals who do not have alternative options. Beneficiaries are taken by qualified professionals employed by the State Department of Health (SDH) or Medicaid-managed care companies through transportation brokers (MCO).
A NEMT business offers transit service to those who require assistance traveling to medical facilities. Dialysis patients and nursing home residents frequently use NEMT services. Depending on the state, NEMT enterprises operate as independent driver-providers (IDPs) under various service types.
A NEMT broker connects clients with NEMT operators in the most efficient and cost-effective manner. NEMT brokers are responsible for a number of NEMT duties such as client eligibility criteria, provider network administrative structure, provider certification, trip confirmation, and reporting. States that employ the brokerage model pick a broker through a competitive bidding process based on expertise, reputation, cost, and a range of other variables.
When it comes to determining your NEMT rates or how much you should charge for a trip, it's not as simple as choosing a sum that seems equally reasonable and profitable. The easiest method to set NEMT rates that will deliver great results is to undertake some study both about your own NEMT business and the region in which you operate. The very first thing you should do is examine the typical travel cost in your location.
You May Also Read: Is NEMT a Good Business in the USA?
Examine how much other NEMT providers in your area charge for trips. This will provide you with a fair indication of what clients in your region are used to and willing to pay. Following that, you should examine demand in your immediate vicinity.
Are there any other NEMT companies in your area? Your NEMT business needs to stand out among your competitors, if there are any. Find out what distinguishes you, and then sell your services accordingly. In case you are the only NEMT company in your region, you are in an ideal position to grab every trip offer that comes your way.
In any event, once you know where you are in the market, you can concentrate on your plan. The mode of transportation is the final major factor to consider when determining your NEMT pricing. Will you only undertake ambulatory rides, or will you also transport wheelchairs and stretchers?
Since there are no standard NEMT rates in the United States and charges for NEMT services vary by provider, we have prepared a chart showing the typical NEMT rates. This chart is intended to give you a rough understanding of how to set charges for your NEMT service.
Even if you have decided on predetermined NEMT rates for private pay rides, consider additional services that may increase those rates. Some of these costs can be applied to all your rides, while others are applied case-by-case. Here are some examples of prices you may consider charging for your service. Well, these charges will differ based on the days and hours the trips take place on.
You can create your own, one-of-a-kind NEMT services’ NEMT rates. However, we recommend that you check local NEMT providers for quotations or NEMT pricing so that you may give fair costs to your clients.
You may either set a fixed NEMT rate for each ride or a defined amount per mile covered. Because many of your rides will most probably be regional, charging per mile may not be the best option. Another option to charge for extra coverage is to set a fixed fee and then charge per mile after a particular distance. This puts a fantastic example for your clients, as they will understand that if their rides fall within your specified distance limit, they will pay one fee, and if they desire to travel beyond, they will have to pay more.
The majority of NEMT businesses charge for deadhead mileage. Any kilometers traveled without a patient are considered deadhead miles in the Non-Emergency Medical Transportation industry. For instance, if a patient wants to attend an appointment within the city but resides 20 miles away, your vehicle will need to travel 40 miles without the patient. These are deadhead or empty miles, and you may claim charges for them because the patient is not in the vehicle during this time.
This one is quite typical. If a passenger fails to appear for their ride, they will be fined a price for failing to appear. Using NEMT Scheduling Software is an excellent approach to decreasing no-shows.
If you often receive ride requests on weekends, Sundays, or other holidays, and after 5 p.m. you can charge extra for working outside of usual business hours. These fees should not be ridiculously high, but they need to be distinguished from normal-hour NEMT rates. You may consider weekends your normal business hours; in such an event, you would apply the standard NEMT pricing.
You certainly work hard to establish an ideal NEMT business. Well, don't risk billing and scheduling failures devastating your business. NEMT Scheduling Software assists you in managing your rides from start to end, allowing you to stay on track and meet your business objectives. If you are ready to improve your NEMT business operations, contact us to Schedule a Free Demo!