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Risk management: Make it a pop quiz

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11/12/2019
Adam Miller

Q. What should I consider before bringing on a new vendor or product?

A. Whether your operation has a history of successful vendor partnerships, or you’ve just started expanding your product line, bringing in a new partner is an opportunity to grow your business.

Human resources: Be mindful about holidays

 - 
11/12/2019
Laizer Kornwasser

Q. Should we celebrate holidays at work?

A. During December, a common greeting heard by many employees in the United States is,“Happy Holidays.” There are millions of Americans who don’t celebrate a holiday in December, either due to not having a religious affiliation, or because their religious holiday(s) is/are observed during a different time of the year.

Retail sales: Know your Nexus

 - 
11/12/2019
Kamal Haddad

Q. I have an e-commerce website; what is my sales tax exposure?

A. The general rule used to be you have to collect and remit sales tax in the states you have a physical location or Nexus. What is nexus? It’s a connection between how and where you do business in a particular state.

Risk Management: Err on side of caution

Q. What documentation is necessary to mitigate future claims and protect me in a lawsuit?
 - 
10/28/2019

A. When done right, good documentation tells a story. It paints a clear picture of the facts surrounding a claim—the classic who, what, when, where, why. But, of course, it’s no simple task.

Human Resources: Lead by example

Q. How can I encourage feedback in our organization?
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10/28/2019

A. It’s easy to imagine the experience of a doctor’s office visit: after waiting 30 minutes to be called into an exam room, another 30 minutes pass while waiting for the doctor to finally arrive and perform their exam.

Financial outsourcing: Use KPIs to take your pulse

Q. How can I optimize performance tracking?
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10/28/2019

A. Getting the pulse on your HME business is simple when you know what to look for and how to look for it. Key Performance Indicators are used to break down strategic objectives into trackable metrics.

Retail Sales: Chase the right dollars

Q. What is your opinion about investing in online advertising and paid search to promote retail sales?
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10/28/2019

A. Short answer: it’s a waste of money for most HME providers. Have you been told otherwise? It is probably from folks that sell marketing services. And, if you have tried it, it probably has not provided a good return on your investment.

Risk Management: Be proactive with rental equipment

Q. How can I prevent my rental equipment from disappearing?
 - 
09/30/2019

A. It’s a common practice for HME providers to rent equipment to their patients. The arrangement works out well, for the most part. The patient doesn’t have to pay the full price of their device up front, and the provider gains a steady source of recurring revenue.

Human Resources: Obsess over customers

Q. Why does company culture matter?
 - 
09/30/2019

A. The culture you create and the employees you hire will determine if you will be Kodak or Amazon.

Financial outsourcing: Check your business pulse

Q. Why should I outsource my finance and accounting?
 - 
09/30/2019

A. When was the last time you based strategic business decisions on reliable, quantifiable financial data that you were confident in?

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