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Retail opportunity: Ensure safety, communication

Smart Talk

Retail opportunity: Ensure safety, communication

January 12, 2021Sue Chen

Q. As an HME retail store, what are the three most important things I need to do in this COVID retail reality? A. No retailer could have planned for 2020. It was crazy and unprecedented. When stay-at-home and lockdown orders rolled out in March and April, the HME industry, including retailers and providers, were deemed essential businesses and able to stay open. Even so, there were limitations that required continuous shifting and pivoting to keep the HME store open, surviving and thriving.  Here...

HME retail, Nova Medical Products, Sue Chen


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Technology: Make it work for you

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Technology: Make it work for you

January 12, 2021Mark Ludwig

Q. How can providers use technology to provide more services and, ultimately, more revenue? A. Surviving the turbulence of COVID-19 makes thinking about new software and integration strategies impossible for even the most strategic and successful DME operators. It is in these challenging times, however, that we have to count on technology focused innovators and problem solvers to help DME operators improve operating efficiencies and find new sources of revenue. Fortunately, great work is being...

Bonafide Medical Group, Mark Ludwig, technology


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Repairs: Get the full picture

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Repairs: Get the full picture

January 12, 2021Dan Meyer

Q. What are the pros and cons of outsourcing my respiratory equipment repair versus doing it in-house? A. When that invoice arrives from your equipment repair center, it’s understandable to ask yourself: “Should we keep outsourcing repairs or fix our equipment in-house?” That’s a business decision that dealers must make for their unique circumstances, but here are some factors to consider. Diversity of your fleet If you are a full-service respiratory provider, the...

Dan Meyer, home respiratory equipment, Repair Authority


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Outsourcing: Don't rely on point person

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Outsourcing: Don't rely on point person

January 12, 2021Todd Usher

Q. Why don’t I just “farm it out”? A. Intake and billing are critical functions that directly affect cash flow and your reputation as a provider. These functions are vital to your success. When these functions are “farmed out,” you have little to no control over who is working your accounts, and what kind of in-depth knowledge and dedication they have. Assigned to your account is a “point person" who, in our experience, does not know what team member...

outsourcing, Tactical Back Office, Todd Usher


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Resupply: Measure it to manage it 

December 14, 2020Mark Boardman

Q. How well is my CPAP compliance and resupply program performing compared to other HME providers? A. Perhaps one of the more useful statements pertaining to business excellence is, "If it can't be measured, it can't be managed." Applying this to key aspects of our businesses is critical if growth and improvement objectives are going to be achieved. If a business goal or objective is to become a leader in CPAP compliance and resupply, it is essential to know the industry benchmarks to...

compliance, cpap, Mark Boardman, resupply, Sleep Coaches


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Leadership: Understand the signs 

December 14, 2020Sarah Hanna

Q. How do I combat burnout and stay motivated in my position after experiencing the challenges of 2020?  A. During stressful and uncertain times, burnout in the workplace hits an all-time high. Understanding burnout and steps to move through it is key to improving your motivation. First let’s identify some common signs of burnout: reduced efficiency and energy; increased errors and frustration; suspiciousness; fatigue and headaches; more time spent working with less being accomplished.  Moving...

burnout, leadership, Sarah Hanna, Smart Talk


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M&A: Assess your timing

December 14, 2020Samantha Lincoln

Q. Is the timing right to sell my business?  A. This question sparked my interest because on the night of Dec. 21, 2020, the winter solstice, Jupiter and Saturn will form the “Great Conjunction.” They will be in alignment closer together – just 0.1 degree apart – than they have been in nearly 800 years. (They align every 20 years or so, but this is the closest.)  Only you and your adviser can assess your specific timing, but several “planets”...

acquisitions, M&A, mergers, Paragon Ventures, Samantha Lincoln


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CBD: Keep it simple

November 12, 2020Andrea Mangini

Q. What kinds of CBD should I be recommending for pain?A. CBD is widely accepted as a treatment for both acute and chronic types of pain due to its clinically proven effects on inflammation, but as we all know, different types of pain require different types of treatment and CBD can help in most cases. If you're unclear on how to navigate all the products in the market, my advice is to keep it simple.I have always and will always recommend a full spectrum or, at the very least, a broad spectrum CBD...

CBD products


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Resupply: Optimize patient engagement

November 11, 2020Mark Boardman

Q. How do I optimize patient engagement for maximum revenue and retention? A. Increasing patient engagement results in improved compliance rates and resupply revenue per patient. The question is how to optimize and maintain those levels of engagement and retention. Omni channel vs. single channel By studying customer engagement programs from other industries, we learned that the most successful programs utilize an “omni-channel” approach to optimize engagement. This method enhances the...

Mark Boardman, Sleep Coaches


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Leadership: Make your list

November 11, 2020Sarah Hanna

Q. I have so much on my “to-do” list that I get overwhelmed and end up not accomplishing the important things. How do I determine the priorities so I can hit my goals?A. You are not alone in feeling overwhelmed from too many items on your list. New tasks are added daily while others seem to stay without any movement. Continual prioritization is needed to ensure you are addressing the most important and timely items.When prioritizing, be sure to include meetings that are scheduled to know...

leadership, Sarah Hanna


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