Page 3 - HME Business, October 2019

HME Providers Must Learn to Work with Many More Payers
Each October, HME Business meets with various members of its editorial advisory board (you can find the full list of the board on page 6) about critical trends they believe providers will need to address in the coming months . Usually, this round- table discussion results in a broad range of insights from an equally diverse group of experts .
Not this year . Surprisingly, the board members participating in this year’s roundtable were almost unanimous in their opinion: providers will need to learn to work with a wide variety of payers and revenue sources .
We’ve known for many years that the Medicare-only business model has become untenable for HME providers . We’ve also known that they must diversify revenues . For many, retail was the first viable option in that regard, and it wasn’t long before the “caretailing” blend of Medicare and retail revenue caught on .
However, the board is saying providers must approach this far more strategically . Medicare and retail are critical revenue sources, but HMEs must go further . They must explore private payer insurance . They must tap into managed care . They must investigate opportunities in supplying facilities-based care . Moreover, all of that will require high-level payer relations, deal-making, and contract negotiation .
Advisory Board
Roundtable . . . . Starts on Page 28
Managing Diverse
Payer Relations
Good at negotiating? You’ll need to be.
What’s Inside:
Six-Year Lookback Audits . . . . . . . . . 12 Medtrade Product Preview . . . . . . . 18 OutsourcedBilling . . . . . . . . . . . . . . 33
HiringOffshoreStaff . . . . . . . . . . . . . . . 8 Retail’s Sales-Inventory Link . . . . . . . . 10 ManagingYourHME‘Fleet’ . . . . . . . . 40 Diabetes Management Services . . . . . 42
October 2019 Volume 26, Number 8 hme-business.com