HME Business, April 2020

What’s Inside:
Products That Work . . . . . . . . . . . . . 19 News, Trends & Analysis . . . . . . . . . . 6
Achieving With Accreditation . . . . . . 9 HIPAAandCashSales ............ 10 AccessibilityProducts............. 28 FacingFutureChallenges .......... 31
Pulling Back the Curtain
Using analytics to get a closer look at your business.
Special Insert Inside:
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Helping pharmacy owners and operators expand their DME businesses.
A S P E C I A LF RP OU MB L I C A T I O N
ALSO INSIDE
A p r i l 2 0 2 0
To E or
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E-Prescription has come to DME. How should your pharmacy respond?
Page 4
• Online Pharmacy Marketing Page 10 • CBD Marketplace Page 13
hme-business.com
Analytics Help HME Providers Take Rapid, Strategic Action
They say that knowledge is power. If that’s true, then having
the right information must give HME providers superpowers. The questions are, how do they find the correct data, and how do they make sense of it?
HME businesses have been collecting oceans of data over the past decade or so, thanks to their billing and business management software. If they can leverage that data pool, providers can accomplish strategic tasks such as identifying and removing unnecessary costs within their operations, smoothing out their flow of revenue, and finding and capitalizing on market opportunities.
The problem is that studying that data in a way that lets a provider properly act on it is analogous to trying to find the right droplets in the aforementioned information sea. Moreover, providers must get to the data they need quickly, flexibly, and on-demand so that they can make fast, strategic decisions in the mercu- rial environment that is post-acute healthcare.
Fortunately, new analytics tools are helping providers pull back the curtain on their businesses and quickly get to the information that can help them make smart decisions. In this month’s cover story, we talk to analytics experts and a provider using analytics to see how these tools are generating real-world results.
Analytics for
HME Providers . Starts on Page 12
April 2020 Volume 27, Number 3 hme-business.com