HME News

MAY 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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Smart Talk 8 www.hmenews.com / may 2018 / hme news Revenue Cy C le Rehab sales Apply for an HME Excellence Award! Judges evaluate company performance in the following categories: quality control, staffing, financials, and community involvement. All company information remains strictly confidential. There is no fee to apply. www.hmeexcellenceawards.com excellence award We're looking for the nation's premier providers Apply online today: All applicants get a FREE digital HME Toolkit! a void pitfalls, reap rewards By Dan Greyn Q. What are the top three pitfalls of RCM that I should avoid? a . The revenue cycle is a complex process with many moving parts. Those "parts" are better known n o margin, no mission By Bill n oeltin G Q. I seem to be making more choices about money than about clinical excellence. What should I do? a . We've seen reimbursement become tougher over the years and your employers have become more and more squeezed for profit. When I was in the hospital contract man- agement business, CEO Sister Mary Jane Beth Sue said to me, "Sonny, no margin no mission!" Learn a lesson from Sister MJBS. Never compromise your standards for profit, but don't think you can deliver excellence without it. And don't forget that one of your prima- ry customers is your employer. Help your employer be good. It's easy to say, "I can't deliver excellence because my employer won't let me provide what I want to provide, what my clients and therapists want and need." It's hard to deliver excellence in the face of that dilemma. It's hard to help your employer understand. It's hard to convince your clients and therapists to accept less. Well, buck up sissy-pants. You didn't become an ATP because you thought it was going to be easy. You did it because you care. Help your employer be good. Throw the flag when there's a foul, and don't always be a Debbie Downer. Your employer wants to hear your ideas about how to make things better. Tell them. You must understand the expec- tations and needs of all your cus- tomers and present clear solutions. You must overcome their skepti- cism. You must be compelling with examples about how your solutions will satisfy their needs…clinically and financially, client and employer. Without your active support, this industry will drift. Fight for what you need and for what your clients need. But remember, no margin no mission. hme Bill Noelting is principal at Noelting Creative Productions. Reach him at bill@ noelting.com. as people and processes, and they need to work harmoniously for your company to achieve bottom- line results. Here are three pitfalls to avoid as you manage your rev- enue cycle: c licking the 'print' button The average cost of every piece of printed paper is 2.47 cents (includes paper, toner, and the printer drum). Now, take any physical file on your desk and calculate the cost of that file. Plan on adding more docu- ments to it? You will be adding cost and losing revenue. Today's software systems can do electronic documen- tation management for you. Clinical documents, authorizations, EOBs, and ERNs—every document can be electronic, searchable and usable by your entire staff. m issing out on low-hanging claims The No. 1 cause of lost revenue is not working holds daily and assign- ing them an owner. Generally, not working all of your claims daily is a source of lost revenue. If you are doing this, you'll also be certain to work the timely filing deadlines. Intelligent work queues and high- level management dashboards built into your software system can bring a level of awareness that you and your staff won't be able to ignore. l acking feedback systems When you have access to all your data, a productivity report can show areas of improvement between teams. Pull the teams together and discuss your findings. Ask them to give each other feedback and find ways to improve the processes. Increasing productivity will have a direct, positive impact on how fast you get paid and how frequently. Technology offers many advan- tages to your business revenue. A tactical leader actively works to avoid pitfalls by making technolo- gy support every team member and process within the company. hme Dan Greyn is senior systems consultant, sales, at Computers Unlimited. Reach him at dan@cu.net.

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