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M&A: Be thorough, thoughtful

 - 
07/30/2018

Q. I am interested in acquiring an HME business. How do I find a good business and what should I do to assess the opportunity?

Patient collections: Train, then communicate

Q. How do I communicate my new ‘card on file’ policy?
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07/30/2018

A. Once you’ve decided to implement a ‘card on file’ payment method, and you’ve begun changing internal processes, the next step should be to communicate this policy—the key in developing a successful automatic payment program.

Online learning: Observe, reflect, make

Q. How can I keep healthcare education engaging?
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07/30/2018

A. Have you ever sat through a tedious online course that was full of text-filled PowerPoint slides, with a person reading word for word what’s on the slide? How much of that content do you remember?

Billing: Prepare by self-auditing

Q. A recent OIG report discussed replacement CPAP supplies that do not comply with the Medicare guidelines. What is the correct documentation to collect?
 - 
07/30/2018

A. Don’t take for granted the documentation requirements for refill requests. CPAP supplies fall under the non-consumable guidelines, which are more durable requiring periodic replacement.

M&A: Don't skip to last chapter

Q. What is exit planning and how do I explore the strategic options for my HME business?
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06/26/2018

 A.

Patient Collections: Lock it down like Fort Knox

Q. You’ve decided to implement a ‘card on file’ Program. What should you do next?
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06/26/2018

A. There are four simple steps.

Select a Payment Vendor that Holds the Highest PCI DSS Certification

Online learning: Make your photos count

Q. I'm not a photographer, how do I take quality photos for patient education?
 - 
06/26/2018

A. Better photographs can make education easier for the patient to understand. Here are a few tips for an amateur photographer to improve their images.

It's all about light

Billing: Don't fall for misconceptions

Q. As our company is executing more non-assigned claims, ABNs are being utilized more frequently. Are ABNs required for non-assigned claims?
 - 
06/26/2018

A. The quick answer is maybe. Let’s start with some misconceptions in the industry about non-assigned claims. 

M&A: Be forthright and professional

Q. Some of my employees heard a rumor that we may sell our company. How do I deal with these rumors and what and when should I tell them?
 - 
05/29/2018

A. The era of competitive bidding has caused 40% of HME businesses to close or merge over the past decade. Sometimes a sale or merger is the only option for a business owner to scale for survival and realize a return on a lifetime of work.

Patient Collections: Don’t bet against the house

Q. Why should I implement a ‘card on file’ payment method for my business?
 - 
05/29/2018

A. Did you know that 60% of the amount owed by patients is never collected, and that 30% of patients have a past due balance of 60 or more days?

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