How to Choose Your NEMT Rates
If you’ve just started your own non-emergency medical transportation company, one of the first things you’ll want to figure out is how much to charge for every trip. This may seem like a simple task, but in reality, there’s a lot of thinking that goes into choosing the right amount. If you’re currently in this situation, we’re here to give you some tips for choosing rates that make the most sense for your business. The right rates will help you attract a variety of clients so you can become profitable as quickly as possible. Ready to pinpoint the best rate options for your business? We’ve got you covered.
What Factors Impact Your Nemt Rates?
When you sit down to talk through what you’ll charge for your NEMT rates, it’s not as simple as picking an amount that sounds both fair and profitable. The best way to choose rates that will yield positive results is by conducting some research, both about your own business and the area you’re operating in. The first thing you should look into is the average trip price in your area. Take a look at what other NEMT providers in your area are charging for trips. This will give you a good idea of what passengers in your area are already used to and willing to pay. Next, you’ll want to assess demand in your local area. How many other NEMT businesses exist in your area? If there’s a handful of them, you’ll have to make sure you can distinguish your business from what others are offering. Figure out what sets you apart, and market your services based on that. If you’re the only NEMT business in your local area, this puts you in a great position to secure every trip opportunity that comes your way. No matter the case, once you know how you fall in the market, you can focus on your strategy. The last big thing you should consider when thinking about your NEMT rates is the mode of transport. Will you exclusively do ambulatory trips, or will you also do wheelchair and stretcher transportation? These costs will vary in addition to the days and times these trips take place.
Additional NEMT Fees
Once you have a set rate that you’ll charge for private pay trips, it’s time to think about additional fees that could change that rate. Some of these fees are things you can choose to implement into all of your trips, while others are more of a case-by-case scenario. Below you’ll find a few examples of fees you might consider charging for your service.
Charge er Mile
You can either charge a flat NEMT rate for every trip or you can charge a set amount per each mile traveled. Since the majority of your trips will likely be local, charging per mile might not be the most effective decision. However, another way to charge for extra mileage is by setting a flat rate and then charging per each mile after a specific distance. This sets a good standard for your passengers, so they know that if their trips fall under your set distance cap, they’ll pay one price, and if they wish to travel further, they’ll have to pay extra.
This one is pretty standard. If a passenger doesn’t show up for their trip, they’ll be charged a set fee for missing their appointment. Using non-emergency medical transportation scheduling software is a great way to reduce the number of no shows you get.
Holiday, Weekend, and After Hour Fees
If you’re receiving a steady amount of trip requests on holidays, weekends, and after 5pm, you can charge fees for operating outside of regular business hours. These fees shouldn’t be exorbitant, but they should still exist to separate your regular hours from special ones. You may decide that weekends are part of your regular hours, in which case you would only charge your typical fee.
Most NEMT companies charge for deadhead miles. Deadhead miles are any miles driven without the passenger in the vehicle. For example, if a passenger needs to attend an appointment inside the city but lives 20 miles outside the city, your driver will have to travel a total of 40 miles without the passenger in the vehicle. These are deadhead miles, and since the passenger isn’t present in the vehicle during this time, you can charge for these miles.
How NEMT Software Improves the Billing Process
NEMT billing is a tedious process. Billing for transportation services by hand can take hours, and manual billing comes with the risk of billing errors—which will set you back even further. Whether you’re working with Medicaid billing or private pay, non-emergency medical transportation software helps you submit all types of bills without flaw.
Medicaid Billing With NEMT Software
Billing transportation brokers for Medicaid trips is a seamless process with software. All trip data is stored in the system, so as soon as the trip ends, you can quickly create a claim. The system checks the claim for errors before submitting to the insurance company, so you can be sure that the claim is clean. Additionally, you can view all claims statuses right within the software and make sure everything is being processed properly.
Private Pay Billing With NEMT Software
Private pay transactions are as simple as ever with software. Once your trip is complete, collect your passenger’s cash, check, or credit card payment and input the information into the system. Your passengers have the ability to pay in the way that’s convenient for them, and you get paid instantly. A digital record of every trip and payment is stored in the system in case you need to access the data again.
Run Your NEMT Business With Ease
You put a lot of work into building the perfect business. Don’t let billing and scheduling errors wreak havoc on your company. Non-emergency medical transportation scheduling software helps you manage your trips from start to finish so you can stay on track and achieve your business goals. If you’re ready to upgrade your process, book a free demo and check out RouteGenie’s NEMT software!