Primed for Acceleration
DME ordering is an antiquated, highly manual process.
- Utilizes paperwork, fax, and phone calls resulting in errors, denial rates and long fulfillment times.
- 95% of DME orders are still done by fax and phone, including within EHRs which simply embed eFax.
- Prescribing providers spend valuable time resolving DME order errors resulting in provider dissatisfaction, increased length-of-stay, and poor patient experience, and often drive unnecessary readmissions.
On average, a DME order takes 71 minutes to resolve, is riddled with errors 90% of the time, and results in 25% of delayed discharges for DME. With our aging demographics, the problem in DME ordering is only growing.
DME represents a $2.5B market with over 280M DME claims submitted annually across Medicare and Commercial DME prescriptions.
- E-prescribing adoption is nascent as suppliers estimate less than 10-20% of their order volume is digitally processed today.
- The fragmented nature of both the supplier and provider landscape is ripe for a digital-first, marketplace approach
Parachute’s DME solution is a double-sided marketplace between > 3K DME suppliers and >60K providers representing >220K physicians that has reduced the time spent per order to <2 minutes and <1 minute with EHR integration.
- Referring providers can prescribe a majority of available DME products through a single platform that uses
- guided documentation to increase reliability and completeness of orders
- point-of-care insurance eligibility check
- a dashboard that provides visibility across order status
- Parachute enables physicians and NPs to e-sign DME orders. This includes a real-time communication capability for medical assistants to digitally communicate with suppliers, allowing patients to easily track the order status of their DME.
- More than 5 million patients have been cared for through the Parachute platform.
Network effects are developing quickly as suppliers and providers rapidly leave the fax machine behind for smart, digital ordering and communication.
Hot off the press! Parachute Health partnered with Optum and Walgreens/CareCentrix to enable payors and payviders to decrease their DME spend by over 10% by automating prior authorization at the point of care, managing their supplier networks, and streamlining utilization management.
More at parachutehealth.com
