New program helps HMEssee margins
The VGM group hit the Medtrade floor last month with a new bariatric/wound care program featuring a tool that allows providers to plug in their costs and calculate gross margins.
"We want to offer providers different avenues to increase their revenue stream," said Heather Raub, director of wound care and bariatrics. "This can be a hand-held program if they have never been involved before, and it is also helpful for people who have already been in wound care."
According to Raub and VGM Vice President Pat Suda, the biggest reason HME providers shy away from the wound care/bariatric market is reimbursement. The margin calculator helps take the guesswork out of whether or not they'll make money in this niche.
"For many providers, if they were already doing it, they dropped out because of the reimbursement aspect," Suda said.