Advising others

Monday, March 31, 2008

CHATTANOOGA, Tenn. – Rob Summit and Tim Moore are using their collective 40 years of home medical equipment experience to advise providers on how they can improve their businesses.
“We look at everything, whether it’s billing and collections or the whole company itself,” said Summit, president of The Summit Group, a Chattanooga, Tenn.-based provider. “We help them to determine things like whether existing products are making money and whether there is potential in other products or ancillary products.”
Summit and Moore began advising HME providers and other healthcare providers as part of Moore, Raven, Samuel & Bradley (MSRB), a business management advisory firm, on Jan. 1. Summit is a partner and Moore a managing partner.
The Summit Group has served as a “guinea pig” for Summit and Moore, the provider’s CFO. As a result of several analyses, The Summit Group recently decided to shift its focus from complex wheelchairs to ancillary products like lifts (See story on page 27).
“The problem with HME providers is that they’re scared to do anything right now,” Summit said. “They don’t realize if they don’t streamline now, there won’t be anything to streamline in 12 months. They have to analyze their businesses to shift their product and revenue mixes to sustain their businesses.”
Summit and Moore’s first customers have been physicians. The duo has advised them on everything from outsourcing billing services to purchasing new buildings.
“It’s cradle to the grave,” Summit said. HME