LAS VEGAS – Medtrade Spring attendees already know that ruthlessly efficient billing/reimbursement software (in-house or outsourced) is essential in 2018. Providers looking to upgrade and/or switch their billing system will have an amazing chance to sample, see, and speak with representatives from several different companies when Medtrade Spring convenes March 27-29, 2018, at the Mandalay Bay Convention Center in Las Vegas.
“When I was starting my own company, Medtrade Spring made it really easy for me to go find my accreditation company, software company, etc.,” says Robin Nyberg, owner, CPAP & More, Sparks, Nevada. “It’s the best place to go to have all your vendors and all your products in one spot. On the west coast, there is nothing like Medtrade Spring.”
For those who have already registered for Medtrade Spring, or who may be pondering registration, advance rates are still in effect. Medtrade Monday spoke with a sampling of exhibiting software companies to get a feel for what Medtrade Spring attendees can expect when the show starts in less than two months.
Q: Why is the right billing/reimbursement software and/or system so important for today’s HME providers?
Wayne Bailey, director of Client Services, Bonafide Management Systems: The HME industry is undergoing significant consolidation right now, and the changes are massive for HME providers. Everyone has to make the shift from mom and pop shops to data-driven businesses that can maximize profits and scale. HME providers that implement a complete Enterprise Resource Platform (ERP) like ours are the ones that will succeed and thrive through these industry changes.
Melinda Ross, marketing events manager, Brightree: The efficiency of your business management software has a critical impact on the financial performance of your business. The HME world is no longer just about posting payments and submitting claims, your revenue cycle encompasses many steps from when an order comes in until the time when there’s no longer a balance on that patient’s account. It also includes front-end tasks like confirming sales orders to insurance eligibility; and back-end tasks like claims submission, denial management, and management of outstanding balances. Your ability to get paid faster, and in the full amount, will depend on the efficiency of your business management system. With all of the challenges facing the HME industry, having the right technology, equipped with the latest features, solutions, and services, will get you on the path toward a prosperous and efficient business.
Doug Iversen, director, Sales & Marketing, Computers Unlimited / TIMS Software for HME: Having a highly functional billing/reimbursement software is absolutely a core requirement for any successful HME. Additionally, what is important for today’s HME provider is to realize systems are not just billing systems. Today’s technologies deliver more opportunities for HME providers to introduce higher levels of efficiencies in every aspect of the business operation, not just billing. Systems have become highly tuned to exact industry needs for all personnel within a provider’s organization—topics such as inventory control and delivery practice cannot be ignored. Without modern, deeply integrated tools in place, many HMEs are unknowingly behind the technology curve, and it becomes increasingly difficult for them to catch up. Any provider with a system 4-5 years old is already behind.
Kent Barnes, director of Marketing, TeamDME!: With reimbursement cuts, there is no room for any margin of error. You need to be able to see your companies complete financial picture, as well as, managing all of the complexity of getting reimbursed.
Joey Graham, vice president, Operations, Prometheus Group Inc: The payer community has driven down HME reimbursement to historic lows. Today’s providers are experiencing tremendous pressure on their margins. Maximizing revenue cycle performance (i.e. maximizing collections) and lowering labor costs are two priorities that every HME provider is currently facing. Finding the right revenue cycle management solution and ERP software is absolutely key to success.
David S. Golen, vice president, Business Development, Universal Software Solutions, Inc: The right software is vital to the efficient operations of HME Providers, allowing better patient care, staff contentment, and profitability.
Q: Why did you decide to exhibit at Medtrade Spring 2018?
Wayne Bailey, director of Client Services, Bonafide Management Systems: Medtrade is the largest and most important forum for the home health market. Our software is designed specifically for DME/HME providers, so we enjoy attending both Medtrade Spring and Medtrade Fall so that we can stay abreast of industry trends and meet the people running home health businesses.
Melinda Ross, marketing events manager, Brightree: 2018 is set to be a very exciting year for Brightree. Our continuous investments in technology have allowed us to automate, and streamline nearly every element of the HME/DME workflow, leading to increased revenues and reduced costs for our customers. Medtrade is the perfect platform to share our exciting technology with new customers and our existing clientele.
Doug Iversen, director, Sales & Marketing, Computers Unlimited / TIMS Software for HME: We are excited to continue our commitment to HME providers through our attendance at the Medtrade Spring show. The event has always proven to be a fruitful opportunity to visit with our customers, showcase our latest features to TIMS users and prospects, and network with a broad range of industry leaders and stakeholders.
Kent Barnes, director of Marketing, TeamDME!: It is a great time to see our existing customers and it gives us an opportunity to meet companies that are looking to make a switch in their software provider.
Joey Graham, vice president, Operations, Prometheus Group Inc: We have been exhibiting at Medtrade for several years now. The exposure we get to the industry is second to none. It is our opinion that if you are a vendor to the HME industry, exhibiting at Medtrade is an absolute necessity.
David S. Golen, vice president, Business Development, Universal Software Solutions Inc: It is important to support the HMEDME industry, participating in Medtrade events gives us a chance to communicate with providers and other supporters as well as stay on top of important industry news.
Q: What can Medtrade Spring attendees expect to see and/or experience at your booth?
Wayne Bailey, director of Client Services, Bonafide Management Systems: In addition to having the only Enterprise Resource Platform (ERP) for HME providers, Bonafide is also moving into some exciting new arenas, including a product marketplace and infection control systems. Our software is increasingly allowing HME providers and other healthcare providers to manage all business systems under a single umbrella, and we are excited to be sharing our capabilities at Medtrade.
Melinda Ross, marketing events manager, Brightree: We will be showcasing new features and enhancements to our Inventory and Reporting modules that will allow providers to increase profitability. We will also continue to showcase Brightree® ConnectPRO™, a powerful resupply management program that combines all of its technology, services, and data analytics into one time-saving solution.
Doug Iversen, director, Sales & Marketing, Computers Unlimited / TIMS Software for HME: Our primary purpose in attending Medtrade Spring is to make ourselves available to our users, and invite prospective customers to become acquainted with our company, products and services. Computers Unlimited is very much a service-based company with a premium suite of Enterprise software applications directed toward best practices in the HME industry. Attendees will certainly see new features, products and concepts but, just as importantly, attendees will find Computers Unlimited to be a responsive, customer-focused systems provider with an expansive and deeply integrated software worthy of serious consideration.
Kent Barnes, director of Marketing, TeamDME!: It is not a new concept but it is really to the point that providers cannot continue to push paper. We can show providers how they can streamline their workflow and cut the paper pushing and chasing out.
Joey Graham, vice president, Operations, Prometheus Group Inc: We are very excited about this year’s Medtrade Spring because we are launching a proactive revenue cycle management solution under a new brand. As a part of this new offering clients can get an audit of their existing front and back office processes, rapidly implement changes, and track key performance indicators. Attendees should be sure to stop by booth 653!
Q: For providers who are looking to change and/or upgrade their billing software/systems, what is the most important factor they should consider?
Wayne Bailey, director of Client Services, Bonafide Management Systems: The most important factor is whether they can track a piece of inventory from the order process through its lifetime. Our inventory control system is the only one that allows HME providers to maintain flawless inventory control, which enables them to maximize margins in ways that are otherwise impossible. We are extremely proud of the fact that our customers are able to optimize their businesses using the data systems available through Bonafide.
Melinda Ross, marketing events manager, Brightree: With all of the challenges facing the HME industry today, having the right technology, equipped with the latest features, solutions, and services the software industry has to offer, will get you on the path towards a prosperous and efficient business. Providers need an experienced, trusted technology provider to help them uncover potential growth strategies of their business, suggest process improvements and find new revenue streams
Doug Iversen, director, Sales & Marketing, Computers Unlimited / TIMS Software for HME: There is never a single factor—that would be a gross over-simplification. But to consolidate two factors that are certainly primary considerations, Computers Unlimited strongly suggests that the choice be the right fit. Fit from the perspective of having a highly functional suite of applications fine-tuned for the HME provider, and just as importantly fit from the corporate perspective of a robust vendor partnership. Systems are deeply embedded within organizations. Prying one system away to install another cannot be accomplished successfully without heavy reliance on vendor resources and industry know-how. The quality of vendor resources for implementation, training and ongoing support will have an impact equal or greater to the fit of the software/billing system.
Kent Barnes, director of Marketing, TeamDME!: The most import part of changing your billing software/system is not assuming the software will do everything and making sure your are considered a customer not just a number.
Joey Graham, vice president, Operations, Prometheus Group Inc: Providers should understand that this is a partnership, not a vendor relationship. They should partner with a company that is at the leading edge of our industry. In other words, a company that is evolving as provider’s needs evolve.
David S. Golen, vice president, Business Development, Universal Software Solutions Inc: The most important factor to consider, is if the software under consideration has the most efficient work flow and processes, also provides the information to staff and management to make proper decisions.