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Clinical documentation: Defend yourself with documentation

Q. What’s the risk associated with not obtaining clinical documentation?
 - 
12/20/2013

A. It is probably the main area where DME suppliers are most vulnerable. In an audit situation, documentation is your only defense. If you are waiting until you get audited to get the documentation, chances are,  it’s too late.

Comparative analytics: Measure yourself against peers

Q. What’s the difference between business intelligence and comparative analytics?
 - 
11/26/2013

A. HME providers must align critical financial and operational business components to deliver cost-effective solutions for customers and maintain healthy financial performance. Businesses need to measure, monitor and manage these components. 

Marketing: Nurture customers, new and old

Q. How can a marketing automation program help me increase cash sales?
 - 
11/26/2013

A. Competitive bidding has changed the way you need to think about your sales process.

Rentals: Consider adding rental business

Q. Is renting medical equipment right for my business?
 - 
11/26/2013

 

A. Medical equipment companies are continually seeking ways to grow their business.  This is true for medical equipment distributors, as well as medical supply stores. 

Clinical documentation: Choose your physicians wisely

Q. What do we tell a physician who doesn’t want to provide documentation?
 - 
11/26/2013

A. I feel your pain and understand the challenge associated with this task.  

Valuations: Create more cash to improve value

Q. How do I assess and improve the financial health of my HME company in order to increase its value?
 - 
10/25/2013

A. Being a financially sound and healthy company involves a lot more than simply turning a profit on paper. For-profit businesses shouldn’t simply strive for a positive net income.

Collections: Tame the beast

Q. How can I get organized to realize potential patient revenue?
 - 
10/25/2013

A. Turning your potential revenue into actual revenue is looked at as something scientific and difficult to achieve. In all actuality, it needs to be managed individually like any other department.

Legal: Evaluate HIPAA compliance program

Q. Can a person or entity sue for a HIPAA violation?
 - 
10/25/2013

A. Generally, no. HIPAA requires covered entities to maintain the confidentiality of patients’ medical records and other protected health information.

Audits: Appeal early, appeal often

Q. Is it better for me to wait to file my appeal and group my appeals together?
 - 
10/25/2013

A.

Valuations: Weigh pros, cons before partnering

 - 
09/24/2013

Q. What are the major considerations in determining the benefits of entering into a partnership/joint venture with a hospital-based HME provider?

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