Each year around this time, I find myself in the position of appealing to HME providers for help on two initiatives that are very important to the future of the HME industry.
The first is the HME Excellence Awards.
Going back to 2002, a panel of three judges has helped us select the best provider in three categories: HME, home respiratory and rehab technology. It’s a fun tradition around here—seeing who applies, being bowled over by how many great providers there are out there, and calling the winners.
For the providers who submit applications, it’s a great way to take stock—of their financials, community involvement, policies and procedures, and more.
For the winners, it’s a great testament to all of their hard work and a great marketing tool.
Not to mention—amidst all of the doom-and-gloom right now, wouldn’t it be nice to pause and celebrate what’s right in the HME industry? That providers are helping to keep patients in the home, where they prefer to be and where Medicare will spend less money on them. That they’re helping patients to live independent lives despite a chronic condition or a disability.
An added bonus: Winners will be given free registration to the HME News Business Summit and invited to participate in a panel discussion led by judge Miriam Leiber.
The initial application for the awards only takes a few minutes to fill out. Do yourselves a favor and submit one today. The deadline is June 7.
The second is the HME News/SRA Financial Benchmark Survey.
HME News, along with Steven Richards & Associates, has been conducting the Financial Benchmark Survey for seven years now. Benchmarking data is something I frequently get calls about and, as far as I know, this is the only game in town. Data points include everything from revenues per employee to DSO to commission per setups to employee expenses.
This probably takes more than a few minutes to fill out, but it’s the only way to get the results for free.
I’d be eternally grateful if providers participated in these two initiatives. I realize everyone’s busy—and has little attention for anything non-competitive bidding related—but I think they’re well worth your time.