Tag: Miriam Lieber

DALLAS – Value-based care is a term that has been tossed around in health care for a while now, yet it’s still in the “early stages,” especially when it comes to the role of HME providers, said panelists during a session at Medtrade on Tuesday.  “You’re not the only ones struggling to define this,” said Allen Hunt, president of Hart Home Medical Equipment, a health-system owned, full-line HME provider based in Grand Blanc, Mich. “Health systems...

A New Year's Resolution is “a promise to do something differently in the new year,” according to Merriam Webster.For the HME Industry, a few ways “to do something differently” in the new year and in the new decade, might include one or more of the following:Software: Implement one or more new software initiative(s) that help you streamline the order-to-cash process. For example, mobile delivery and auto pay are software initiatives that have contributed significantly to improving...

A New Year's Resolution is “a promise to do something differently in the new year,” according to Merriam Webster. For the HME industry, a few ways “to do something differently” in the new year and in the new decade, might include one or more of the following: 1) Software Implement one or more new software initiative(s) that help you streamline the order-to-cash process. For example, mobile delivery and auto pay are software initiatives that have contributed significantly...

A. You don't want to wait until a referral source asks the inevitable question of when you are going to retire. In small to medium sized companies, clients often associate their experience with the CEO. Especially when the CEO is the founder, it is realistic to expect a referral source to want to know about any upcoming plans to switch leaders at the top. Ensure that the core management group of your company is aligned with your plans before unveiling them to the outside community. How is the new...

A. Begin planning well before a successor will be needed. Start with skill building for the identified core group of staff. Teach and train leadership techniques to the most skilled and talented group of employees at your company. Invest in coaches and mentors to help them strengthen their leadership skills. Sometimes, the CEO is the best mentor and other times, outside mentors are needed to develop a leader. Make sure you have more than one person in the pipeline as depth is needed to develop a...

Yes, succession planning is essential for every organization regardless of size because it demonstrates planning ahead and developing strategies, programs and people for the future and for inevitabilities. You do not want to be caught without a key player or a plan in the event something happens to your staff or your business. Further, relying on one key player to run the operation is simply a risky proposition.Prepare for sudden lossIn working with an HME provider recently, the chief executive tragically...

Fighting that fear factorVGM's Ronda Buhrmester spent the last two weeks of 2018 taking frantic calls from HME providers wondering whether or not they should change their Medicare enrollment status for 2019.Her general advice: If you're a participating provider, change to non-participating.“There's a fear factor, because it's a change in enrollment status for a lot of providers, and they're afraid of how it's going to affect their patients and their referrals,” said Buhrmester, director...

A. If you asked the leaders about their HME company's succession plan, they would likely say they don't have one and don't know exactly what a succession plan entails. A succession plan can be defined as a strategy for finding the next group of company leaders. When employees leave, the business must be prepared to move on. Identifying and training the future leaders is the key to a succession strategy. Core groupWith that definition in mind, how should you create your own plan? First, examine the...

Because the response to a recent HME Newspoll was so paltry (See “Goal for 2018: 'Make money, not lose it,' March 2018), I called Miriam Lieber to find out what providers could be doing differently with their businesses this year.Willing to take risksLieber, president of Lieber Consulting LLC, says the majority of her client base has experienced some level of success, despite the difficult climate. In the upcoming year, they're looking for ways to stay that way.“They're scrambling a little...

ATLANTA - Keeping an HME company in the black is a daunting proposition in the hardscrabble business environment of recent years, but four of Medtrade's best instructors say it can be done despite the pitfalls providers constantly face.Gaining “wiggle room” with margins and improving cash flow can be a reality if providers focus on two key areas, they say: reducing days sales outstanding levels and leveraging technology. By ensuring that deductibles are collected, claims are consistently...