VGM’s Lockard on how to get a ‘huge win’

WATERLOO, Iowa – Boone Lockard calls value-based care the “biggest ticket item” that HME providers need to buy into in the next few years. 

Value-based care has been a buzzword in health care for years now, but Lockard, the new director of VGM Respiratory, says the COVID-19 pandemic has propelled more care into the home and, subsequently, put more pressure on providers to show they’re helping to keep patients out of hospitals. 

“I think if you can show your insurance payers that you’re keeping patients out of the ER or out of acute-care, that gives you leverage to negotiate contracts with those payers and also helps you win at the referral-source level,” he said. “If you can prove you’re not just dropping off equipment and that you have stats to back up your clinical program – that’s going to be a huge win.” 

Here’s what else Lockard, who has more than 10 years of experience in the industry on both the provider and manufacturer aisles, had to say on a recent episode of the HME News in 10 podcast. 

The recall, ‘the elephant in the room’ 

“There is a light at the end of the tunnel,” he said. “The Philips device recall is one of the largest medical device recalls in history and the folks at Philips are also doing what they can to make right by this. Every step of this remediation process had to be built from the ground up and there was no playbook to get through it. They’re doing everything they can.” 

On a possible benefit of the recall: “Historically, there was ResMed and Philips in the CPAP market, and I feel like the recall has opened this up for other manufacturers to enter the space and I can see now there being a third or fourth major player in this market moving forward.” 

The mission at VGM 

“We’re here now more than ever to help providers bridge this revenue gap caused by the manufacturer crisis and exacerbated by the recall they’re working through,” he said. “My job is really to help members build or refine their ventilator or oscillating vest program. VGM is also great at connecting leaders throughout industry to talk about best practices and who’s doing what and what’s working for someone and what’s not working for someone even.” 

To listen to the podcast, go here.