ORLANDO, FL – With Medicare revenues plummeting, the technology gurus
are sending a clear message; Find an effective way to go after the
largest untapped area of revenue—the patient.
“If you don’t have processes wrapped around how to go after patients,” says Keith Lilek, CEO of A/R Allegiance Group LLC, “you are ultimately going to go out of business.”
As
a veteran of the bruising collections business, Lilek is adamant that
survival demands change. “Our guess is about half of the DMEs are going
away,” he says. “The patients, however, are not going away. The
remaining companies are going to be servicing dramatically more
patients.”
With the inevitable influx, patient collections will
be more important than ever, and technology can make a difference. Doing
it the old way, however, can cost valuable time. “If you put out a
thousand statements, you may get a whole lot of calls and it only takes
about 40 to drive your people nuts,” says Lilek. “A guy might owe you
$50 and you are going to spend 20 minutes on the phone with him? It is
just not practical.”
Capitalizing on the different technologies
to reach out to patients who owe is one way that Lilek says can speed
the influx of cash. “Billing and collection has become a
technology-based business,” he says. “The piece of paper, e-mail, text
message—it’s all a valid way of communicating.”
Creating a better bill is an example of how Lilek is listening to the
needs of the market with an invoice statement that gets to the patient
earlier in the process. The statement leads to less confusion, minimizes
the paper, looks better, and is more understandable.
Right Time, Right Place
By
the time the Oct 7-10 Medtrade in Orlando, Fla, rolls around, much
will be known about the fate of competitive bidding. Whatever happens,
Lilek reasons that reimbursements rarely go up, and the patient side of
collections will only grow in importance.
With that in mind, he
says, “In the history of our industry, it has never been more
important to attend Medtrade. If you are going to survive, you must
change. Medtrade is an invaluable place to learn about how to make
those crucial changes.”
From a pure timing perspective, the Oct 7-10 Medtrade in Orlando,
Fla, will come at a pivotal moment in the industry’s history. “Round two
will likely have been in effect for more than three months,” explains
Jeff Baird, JD, chairman of the Health Care Group at Brown &
Fortunato. “Our momentum for MPP [market pricing program] will be
ratcheted up.”
Baird calls Medtrade the only venue in which so
many valuable opportunities are offered to DME suppliers. “The education
programs will be excellent and cutting edge,” he says. “The Medtrade
Education Advisory Board understands the challenges facing the industry
and has put together education programs designed to help suppliers meet
these challenges. Exhibitors will show suppliers the latest products,
plus the opportunity to network is unparalleled. Suppliers can share
problems with each other, and more important, can share the solutions.
Medtrade will give suppliers the tools they need to succeed in the new
normal.”
Early bird registration is now open for Medtrade in
Orlando, Fla, the largest trade show in the U.S. focused exclusively on
HME. Significant savings are available to providers who register
sometime in the next two months through early bird rates.
Click here to register for Medtrade Orlando.
