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Medical devices are a fast-growing segment in the health care industry. The demand for devices is accelerating from two particular areas, emerging foreign markets where the devices are relatively new, and in the U.S. with its aging population. Medical devices manufacturers face unique challenges when compared to other equipment manufacturers. Not…
As we approach the end of the year, how have you done on your sales strategy? Did you achieve your individual and company goals? Did you have a plan? Did you stick with it? A lot of questions, but all very valid. Many HME providers know technology can help their…
An important element of the success of DME suppliers is a vibrant marketing program. In implementing a marketing program, the supplier needs to avoid pitfalls pertaining to the Medicare anti-kickback statute, the federal beneficiary inducement statute, the federal telephone solicitation statute, the Stark physician self-referral statute, federal and state telephone consumer…
With shrinking margins everywhere in the DME business, it is more important than ever that you carefully track all of your inventory and reimbursements, so Tracking DME Performance Metrics is very important for your business. The days of sloppy monitoring are over, and it’s time to get serious about managing…
Starting a DME store is one of the easiest ways to tap into the health care industry, since the business caters to a wide range of professionals and individuals. All types of medical professionals, from veterinarians to midwives and eye doctors, need specific supplies to do their jobs. DME business…
Several years ago, DME competitive bidding was instituted by Medicare and the impact has been dramatic. Many smaller DME companies that could not successfully compete sold their assets, restructured their business, or simply closed their doors. However, other companies saw an opportunity to be exploited. In my national DME merger…
How Medical DME Suppliers thrive to push boundaries? As an industry, the Medical DME supplier market world is more competitive than ever before. Whether it’s a product of technological innovations, an ageing population, or some combination of the two, more people are accessing Medicare and medical equipment than ever before.…
What is a closed or narrow network? A closed network is a payer network which currently has participating providers similar to you and, therefore, is not adding more similar providers, including you, to their network. A narrow network means it has just a few par providers of a certain type…
Revenue cycle management checklist of durable medical equipment companies face workforce challenges, limited productivity, and slowing growth. Intelligent operations can provide DME companies the agility to respond. The revenue cycle management function has come a long way for companies with a recent paradigm shift in thinking from a cost centre…
When you run an ambulance billing service, you need income to drive your organisation. In order to concentrate on your organisation and see that it is the best in its field, your crucial component to help you is your billing area. If you have a strong, dedicated and knowledgeable staff…
