What is a Broker?
A broker is an independent contractor who serves the NEMT businesses within a given geographic area. They can range in coverage from regional to national and have the capabilities to serve a few or hundreds of members. They assist you by assigning groups of trips to you based on factors relative to billing source, type of vehicle, and passenger needs.
Brokers in NEMT Chain
Brokers handle the administrative work associated with qualifying passengers for NEMT transportation through either the passenger’s insurance provider, Medicaid, or other billing modules in the nemt broker software. Brokers also source, schedule trips, and share information with NEMT operators to minimize the risk of errors caused by incorrect billing, dispatching, or routing.
Pros and Cons of Working With a Broker
Brokers provide you an additional revenue stream to supplement private pay and other contracts you may have set up through Medicaid or other institutions(hospitals, nursing homes, etc.).
Brokers assign trips to your company based on your location, number of vehicles, and type of vehicle needed for a specific passenger.
Brokers assist you in choosing the right vehicle for a trip based on a person’s mobility needs. (wheelchair, stretcher, ambulatory)
Brokers generate and send trip information to health insurance, Medicaid, or other institutions easing the burden on your staff associated with filing paperwork for reporting to healthcare agencies.
Inefficiencies in communication: Passenger has to contact broker, who then has to contact NEMT service if a driver is late or no-shows for a pickup.
Brokers are in full control of pricing which could “price out” certain passengers from using your service.
The greater relationship you have with a broker gives them greater control over your business volume.
The more members a broker is contracted with increases the risk of errors related to incorrect invoicing, bill sourcing, or duplicate scheduling of trips.
Lack of control in administrative functions. For example, risk of broker sending incorrect trip information to health insurance/Medicaid causing delays in payment of invoices by healthcare providers.
Many brokers are tied to specific states/geographic regions.
Major Names in the NEMT Broker Industry
Logisticare: Provides NEMT services for over 24 million members nationwide. Manages over 61 million rides per year and features a coverage network in 49 states including the District of Columbia.
MTM: With over 20 years’ experience in assisting 12 million members annually across the country with their NEMT needs, MTM provides a perfect mix of time and money savings, customer service, and passenger safety for its clients.
National Med Trans: Broker that offers 24/7 support and service to members in 14 states including California, New York, Virginia, Maryland, Ohio, Michigan, and Florida.
The ISI Technology Advantage Relative to Brokers
At ISI Technology, we provide customized software solutions for NEMT professionals. Our NEMT dispatch and billing softwaremodules are fully integrated with multiple brokers including Logisticare, MTM, and National MedTrans. We know that no two NEMT companies are the same and we will work directly with you to create a personalized software solution relative to your specific needs. Here are some features of our dispatching software for NEMT relative to connecting with and helping you manage the broker sector of your business.
Trips are automatically downloaded from multiple brokers in one centralized portal. – Saves time and work hours
Automation in downloading dispatch and billing data from all brokers virtually eliminates the human error factor. – Computer less likely to make mathematical mistakes than a person
Livetime updates for all broker-assigned trips decrease time, fuel, and monetary costs associated with no-shows/last-minute cancellations. – Just one no-show a day can cost your business more than $25,000 over the course of a year
Data from new brokers can be added to our system upon your request. – Customized to fit your NEMT needs
The role of brokers will continue to grow relative to the recent uptick in the NEMT industry. With 80 million baby boomers turning 75 in the next 5-10 years, the demand for better quality NEMT services will most definitely increase. Knowledge of your customer base and the services provided by your brokers is key to keeping ahead of your competition in this period of unprecedented growth in your market. Contact ISI today to apply for the best non-emergency medical transportation dispatch software.