Coping with Change

In the HME industry, the only constant is change. What varies is the scope of change. In fact, most HME companies thrive on change. With this round of competitive bidding coupled with the explosion of audits, planning will be the key to survival. We can not just make small modifications or rely on that which has always carried us through these market modifications. This time it will be survival of the fittest.

Thoughtful and strategic planning must happen now, because there will not be a later. For survival in HME today, companies must embrace operational efficiency and cut expenses while looking for ways to grow, diversify and strengthen core competencies. Here are some ways that providers are accomplishing that:

Automation

From more savvy and integrated billing software to inventory tracking and more, automation always has meant the difference between operationally progressive companies and those that struggle. Today, the same is true but more pronounced.

To forge ahead, rely on software to get you through the change. Automation initiatives save time and overhead while adding control and accountability you can not afford to live without.

Some key automation initiatives that have contributed to enhanced efficiencies are: document imaging, electronic faxing (especially for medical necessity documentation), electronic billing to all payers (ERN/EFT), automated denial tracking, outsourced private pay invoicing, inventory control (bar coding/scanning), online insurance verification, GPS and sales and clinician tracking. What works for one company will not necessarily work for another. Determine which automation initiative will strengthen your weakest process. 

Personnel and Goals

Automation may be the key to operational efficiency, but your staff is ultimately responsible for organizational success. With strong leadership, you should have the infrastructure to create a model environment. This will undoubtedly include setting expectations/goals and holding staff accountable. Allow staff to help establish goals. At a minimum, gather their input. This, of course, promotes ownership and buy-in, thereby enticing employees to perform.