Poll respondents work to lower costs, increase sales

YARMOUTH, Maine – With reimbursement strained, it’s unsurprising that 50% of respondents to a recent HME Newspoll say they’ve targeted billing/collections as an area for improvement this year. 

One way they’re doing that: Gaining efficiency through new billing software, but it’s a process that takes time, say respondents. 

“We needed to reduce overhead expenses by reducing manual tasks,” wrote one respondent. “(I) didn’t expect it to take 18 months to complete and (it’s) still not 100% yet.” 

Overall, 70% of respondents say their efforts have been successful or somewhat successful. Another 25% say it’s too soon to tell. 

In addition to improving billing/collections, 25% of respondents say they’ve targeted sales and marketing. They’re improving in that area by leveraging outsourcing and focusing their outreach. 

“Given the current challenges of historically low reimbursement rates, stagnant manufacturer costs and long-standing closed networks in managed care, we have decided to target reputable referral sources this year,” wrote one respondent. “To ensure our survival, we recognize the need to increase our volume. Our proven track record of exceptional customer service, promptness and top-tier medical equipment ensures the highest level of service and timely deliveries.” 

Another 15% of respondents say they’ve targeted inventory management for improvement. 

“It appeared that inventory was functioning on automatic reorder without any caps,” wrote one respondent. “This has been a good change and (reordering) is based on need with minimums and maxes.”