Navigating the road ahead without Medicare
HME businesses continue to face an alarming decrease in reimbursements and a significant increase in pre- and post-payment audits. Responding to Medicare audits can be costly, time-consuming and disruptive events. Is this the time to do more cash sales and private pay to avoid being caught completely in Medicare’s grasp? Is Medicare-only participation in the best interest of your organization?
HME organizations that decide to become a non-participating provider need a software solution to help increase profitability by improving business efficiencies, identifying new revenue streams and taking steps to be more connected with the healthcare continuum.
Here are 4 areas you should improve before making your decision:
1. Boost your revenue by optimizing your resupply business Do you spend too much time managing routine day-to-day business processes? If so, it is probably difficult to carve out the time and resources to do things well enough to significantly move your business ahead. One common example of this is in how well you handle your resupply business. You’re not alone. Many HMEs face this challenge. Brightree ReSupply can help you improve your business efficiency and profitability by achieving a higher percentage of contacts when compared to manual resupply efforts using phone, email and text messages. Our patient resupply management solution offers the perfect combination of technology, cost-effective outsourced calling services, and the industry’s first resupply-focused data warehouse. ReSupply is designed to better support patients once they are in your resupply program. It can be a real game-changer for your resupply business because it helps to:
• Manage patient compliance • Retain more patients in your resupply program • Increase resupply revenue per order • Engage and educate patients on the health benefits of resupply • Manage resupply orders fast, accurately and cost effectively
2. Give your employees the tools they need to succeed How can you maximize employees’ capabilities to contribute to achieving your company goals while driving high-quality patient care in a cost-effective manner? HME providers must provide the right technology tools to employees. The knowledge and skills of your HME staff affect the quality of patient care. As a provider, you will be well-served to equip them with the most advanced technology tools to excel at their jobs (and love theirs!), improve your operational metrics, and achieve your goals. Brightree University provides education, onsite training, and best practices consulting to maximize your employees’ knowledge and usage of Brightree solutions. Brightree’s team of consultants work with thousands of providers regularly to help optimize their system, workflows, and business performance – and now you can also.
3. Improve the patient experience Eliminate manual/wasteful processes As part of your business strategy, determine what activities deliver the most value to your patients and have the greatest impact on your finances. Some of the most common areas of focus to explore are bottlenecks, inventory, patient wait time for delivery, and staff workload.
Many successful HME providers rely on Brightree’s business management platform to optimize workflows and deliver meaningful metrics to track and measure the actual time spent on each step. Results are readily available within Brightree to quickly identify areas for improvement, prioritize work and allow you to become more efficient.
Meet the needs of your patients faster With Brightree’s ePurchasing, your organization can leverage technology to become even more efficient and cost-effective by ordering supplies within Brightree directly from leading vendors and performing direct-to-patient shipping. This not only reduces shipping costs, but it reduces overall inventory carrying costs.
Another way to meet your patients’ needs faster is to implement a Mobile Delivery Management solution. Mobile delivery helps you eliminate excessive paperwork, multiple spreadsheets, and sticky notes that can delay deliveries and potentially compromise patient data. It also helps to efficiently manage your drivers so you can maximize productivity in the field.
4. Patient Collections Outsourcing is a common approach for providers who face challenges with patient collections. Brightree Patient Collections (BPC) gives providers an all-in-one solution complete with automation, best business practices, and a knowledgeable billing and collections teams to get you paid fast, improve efficiency, and allow your staff to concentrate on higher payoff activities and patient care. BPC:
• Sends invoices that are simple for patients to understand • Makes timely follow-up calls • Provides a fast and easy way for patients to set up automatic payments, pay online or over the phone
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