HME News

APR 2018

HME News is the monthly business newspaper for home medical equipment providers. This controlled circulation publication reaches 17,100 home medical equipment services providers, including traditional HME dealers & suppliers, hospital- and pharmacy-o

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Page 7 of 23

Smart Talk 8 / april 2018 / hme news Revenue Cy C le Rehab sales It pays to partner with Securi-T ® USA PECO COntInEnCE CarE PECO by Securi-T USA products are a favored choice among catheter users. As a trusted business-to-business supplier for two decades, you can count on Securi- T USA for: • Reimburseable-friendly products • The latest advances in materials • Proven product performance • High customer satisfaction Your trusted Source for High-Quality Urological & Ostomy Products Securi-T ® USA 877.726.4400 Choose from a full line of catheters, collection bags, underpads & accessories. InvEntOrY We are fully stocked and committed to keeping your business running smoothly with the depth and breadth of products you need, when you need them. $ ExPErtISE We have the tools and expertise to transition your customers to our reimbursable-friendly products that will satisfy their needs and improve your bottom line. $ InnOvatIOn Attract new customers with product introductions. Improve customer satisfaction and retention levels with innovations and enhancements— at no additional cost! $ WE ARE NOT YOUR COMPETITOR As your partner, we help you increase your profitability e stablish KPI goals By Dan Greyn Q. What KPIs show I have strong revenue cycle management practices? a . Industry experts suggest that every team member have perfor- Gain their commitment By Bill n oeltin G Q. h ow do I get a commitment or sale without coming off like a used car salesperson? a . Often, commitment might seem unspoken and a slam-dunk. Don't be fooled. Remember that the end of the cycle is "repurchase," not just 'purchase and I use the term pur- chase synonymously with applica- tion. What we want is your pros- pect's commitment to use your solu- tions from now on. For this, you have to ask. There are a couple ways to gain your prospect's commitment. In cold-hearted selling language you simply ask for the order. But it's not cold-hearted at all, really. If you've done things right up to this point, your expectations are aligned and since you are both convinced that your solution is the best, asking for your prospect's commitment is probably what they are expecting. "Thanks for the opportunity to help today. Do I have your permis- sion to get this started right away?" But don't stop there: "Ms. Jones, will you try my ser- vices and solutions for your next four clients?" "May I count on being able to provide help to you for your next four CP kids?" "Thanks for your support. Are we able to set-up a regular sched- ule today?" We desperately need outcomes studies. Please work with your com- pany's clinical management team to develop or use existing tools so that you can ask your custom- ers to participate. Reliable, broad- based outcomes will provide proof sources that can be used to support funding approvals, reimbursement levels, accurate coding, and a host of other things—including making you more convincing—that will help provide seating and mobility to the people that need it. hme Bill Noelting is principal at Noelting Creative Productions. Reach him at bill@ mance goals, engage in monthly feedback sessions with their team and manager, and receive incen- tives for performance improve- ments. If you have such a system in place, here are several business KPIs that will demonstrate a posi- tive impact on your bottom line. o ur csr s meet or exceed their p atient i ntake goals When establishing goals, discuss ways to: 4 Shorten the time an intake remains in a certain state 4 Reduce or eliminate issues impacting their ability to confirm an order 4 Reduce the number of touch points on a document before acceptance 4 Reduce the number of docu- ment rejections o ur c ollection t eam is meeting or exceeding their revenue goals Here are a few areas to consider: 4 Number of touches until pay- ment 4 Percent of a collector's claims resulting in a payment 4 Number of denials being worked daily o ur r eimbursement r ate is improving month over month If this is true, you have strategies in place to ensure: 4 Payers are not paying less than their contracted rates 4 All of your staff are trained to enter orders accurately the first time o ur d enial r ate is decreasing To make this true, implement tac- tical decisions to reduce and pre- vent denials by: denial code, insur- ance, HCPCS, intake owner/CSR. You can rate the success of your processes by challenging your business with each of these KPI statements. hme Dan Greyn is senior systems consul- tant, sales, at Computers Unlimited. Reach him at

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