Tag: Outsourcing
Outsourcing: Barge right in
April 6, 2021Todd Usher
Q. What cost savings does a remote work force offer?
A. As we decide how to best handle employees in a post-pandemic world, working from home poses more questions about how to best utilize current staffing. Consider the cost of working from home. Did you supply the PC/scanner/printer? Invest in remote time monitoring or IT infrastructure? Productivity software? What about trust?
When I look at job openings online and find every DME around me is hiring for positions that can be filled by remote...
Outsourcing: Beat back turnover
March 10, 2021Todd Usher
Q. How do I stop the revolving door of employees?
A. An HME business has many things to worry about and turnover is one of them. A recent search online indicates the turnover rate is as high as 60% for medical assistants in health care. I would agree with this percentage, as we have experienced the same.
That’s until we started hiring remote personnel five years ago and excessive turnover...
Outsourcing: Scale with the right team members
February 10, 2021Todd Usher
Q. How can I scale my personnel needs?
A. Signing a new contract or being awarded a new payer can leave you waiting for customers or inundate you with new business. In the case of the latter, you can go through the arduous process of hiring, farm-out to a service or onboard remote personnel.
Hiring takes time, careful consideration, and choosing the right people and capital with no guarantee of return, especially in the current environment where...
Outsourcing: Don't rely on point person
January 12, 2021Todd Usher
Q. Why don’t I just “farm it out”?
A. Intake and billing are critical functions that directly affect cash flow and your reputation as a provider. These functions are vital to your success.
When these functions are “farmed out,” you have little to no control over who is working your accounts, and what kind of in-depth knowledge and dedication they have. Assigned to your account is a “point person" who, in our experience, does not know what team member...
Prochant expands into infusion pharmacy market
August 4, 2020HME News Staff
CHARLOTTE, N.C. - Prochant now offers its billing and process outsourcing solutions to infusion pharmacies and current HME provider clients that administer infusion therapies. “We are excited to start our work with pharmacy providers,” said Joey Graham, general manager and executive vice president. “With the COVID-19 crisis, infusion pharmacies play a more important role in health care than ever before. Prochant is ready to help these overwhelmed providers manage their business...
Outsourcing: Analyze net revenue, actual cash
April 1, 2019Joey Graham
A. HME providers are split on how best to measure and recognize revenue in their businesses. In general, measures are organized into four camps:Charge billing Charge billing is full “retail” pricing, not including payer contracts and fee schedules. For most providers, this measure inflates expected cash by 100%-200%. For example, if charge billing is $100, then the expected actual payment is $50 or less. Allowable billing Allowable billing is charge billing less the expected contractual...
Outsourcing: Streamline, automate your cash posting
February 22, 2019Joey Graham
Cash posting is an essential part the revenue cycle. Accurately applying payments, adjustments, and denials to line items in your A/R remains the key to success - one that your billing team probably knows like the back of their hand. Still, there are ways to streamline this process.The three best practices I share below can save your team considerable time and effort.Using a LockboxAre you ready to streamline your cash posting? A lockbox acts as a P.O. box at your bank, where mail, including checks,...
Outsourcing: Set expectations for success
January 24, 2019Joey Graham
A. It is a new year! Is it also time for a new business strategy?The HME News Financial Benchmarking Survey, released in Q4 2018, suggests that HME providers still see outsourcing as a viable business strategy. Collections, billing and compliance have especially seen significant growth over the last two years.Still, you may be asking, “Why outsourcing and why now?”Business process outsourcing (BPO) allows you to focus on what really matters to your business—patient care and referral...
Global standards and safeguards providers can't ignore
April 23, 2018Guest Commentary
In recent years, reimbursement cuts and insurance deductible fluctuations have proven to be incredibly challenging, testing even the most experienced HME providers. Today's growth-oriented providers realize they simply can't “do it all” and still maintain focus on the essential functions of a patient-centric business. Providers are searching for ways to gain greater agility so they can better adapt to market conditions while maintaining profitability and gain a competitive advantage....
Prometheus turns into Prochant
March 27, 2018HME News Staff
CHARLOTTE, N.C. - The Prometheus Group, a provider of HME revenue cycle management services, is rebranding to Prochant. Along with a new name, the company has a new logo, graphics, website and messaging. “Our combination of solid processes and a team of highly skilled specialists is a winning formula that helps us make our customers more profitable,” said Joey Graham, general manager and vice president of operations for Prochant. “The new branding more accurately explains how...