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Retail: Determine your retail niche

Q. How do I price products in a retail store?
 - 
06/21/2013

A. Pricing in retail is an art, and there are a number of factors you must consider. What niche are you trying to fill? Are you a low-priced discounter, or are you in a higher income area where you can emphasize quality and service over price?

Efficiencies: CASH in on outsourcing

Q. Will outsourcing parts of my business offer an efficient return on investment?
 - 
06/21/2013

A. As with many business decisions, a lot depends on your outsourced business partner. With a dependable partner, you may lose some day-to-day control, but you will likely gain valuable expertise and scalability.

Contracting: Stay on top of contracts

Q. How can contract management benefit and lengthen the relationship?
 - 
06/21/2013

A. Being able to provide information quickly and efficiently to your customer as far as trends and outcomes is critical to maintaining long-term contracts.

Billing: Keep eligibility rules in mind

Q. What are the rules for supplying to patients who are in a SNF or who are receiving home health care?
 - 
05/24/2013

A. Many denials stem from a patient being admitted into a skilled nursing facility (SNF) or having a home health episode.

Retail: Put feet on the street

Q. Do I need an outside sales person for my retail store?
 - 
05/24/2013

A. In retail, the goal is to drive as much traffic as possible into the store. You are trying to make the public aware you are there and give them a reason to come in.

Efficiencies: Do your tech homework

Q. What are the key technological advancements in DME that we can look at to improve efficiency?
 - 
05/24/2013

A. The largest motivation providers should keep in mind when focusing on potential efficiencies is the ability to successfully implement technological advancements into their business.

Contracting: Evaluate, then rate

Q. What are areas of importance for rating vendors?
 - 
05/24/2013

A. Vendors play an essential role in a provider’s success at contracting. Any great business has performance standards and guidelines for their vendors. If you are only looking for low pricing, keep in mind that sometimes the lowest price comes with the lowest service.

Billing: Understand TENS unit requirements

Q. When is a TENS unit covered by Medicare?
 - 
03/22/2013

A. Medicare pays for the TENS unit in three instances: acute post-operative pain, chronic low back pain when enrolled in a clinical study, and chronic intractable pain other than lower back pain.

Post operative pain

Retail: Find a commercial real estate agent

Q. How do I determine the right size and location for my retail medical supply store?
 - 
03/22/2013

A. I have seen successful retail medical equipment stores in sizes anywhere from 800 square feet to 3,000 square feet. It depends on how much you can afford and what you can find in locations you like.

Efficiencies: Focus on processes, people

Q. With all that is going on in HME, where do I make changes first in my organization?
 - 
03/22/2013

A. Right now, we are at an area of opportunity in HME. Some may think I’m off my rocker, but let me explain. Our customer base is increasing at record levels, private equity funds are rushing in and technology is creating more efficient ways for us to help our patients.

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