Page 15 - HME Business, July/August 2020

VGM & ASSOCIATES
Relentlessly Dedicated to Your Success
VGM & Associates is the nation’s
largest and most comprehensive
Member Service Organization
(MSO) for post-acute healthcare,
including DME/HME, Respiratory,
Sleep, Wound Care, Complex
Rehab, Women’s Health, Home
Modifications and Orthotics &
Prosthetics providers. Over 2,500
providers with nearly 7,000 locations rely on VGM to connect them to valuable resources every single day.
VGM & Associates
1111W. San Marnan Dr. Waterloo, IA 50704
Toll-free: (800) 642-6065 www.vgm.com
COMPANY PROFILES
HME BUSINESS
The Ultimate Resource for HME Providers
Serving the home medical equipment industry since 1993, HME Business provides in-depth management features, operations insights and product coverage to help HME provider owners and operators ensure they are making the right strategic decisions for their businesses and patients.
July/August 2020
Volume 27, Number 5
We serve our readers through a range of media outlets, including our monthly print publication, special supplements, the hme-business.com website, the weekly e-Source electronic newsletter service, special edition e-newsletters, and regular webinars covering a broad range of provider management topics. Additionally, our social media presence helps us stay actively engaged with the entire HME industry on a daily basis.
Regardless of where the industry heads, our goal remains steadfast: to ensure that we are giving providers the right information that can help them stay on top of pivotal trends, industry issues, key challenges and new oppor- tunities so that they can strengthen and expand their businesses, and improve the clinical care and service that they deliver to their clients.
HME Business
14901 Quorum Dr. Suite 425 Dallas, TX 75254
Phone: (949) 265-1561 dkopf@1105media.com www.hme-business.com
Management Solutions | Technology | Products hme-business.com | July/August 2020 | Buyer’s Guide | HMEBusiness | 13
P A N D E M I C A Moment of Truth for HME That Will Likely
HME providers respond to the COVID-19 crisis
Shape its Future
Annual HME Handbook Inside
Americans began hearing the news about COVID-19 as an outbreak spread in Wuhan, China . By Jan . 30, the World Health Organization declared a Public Health Emergency of International Concern, and on March 11 WHO of- ficially declared a pandemic . The first case in the United States was identified on Jan . 20, and on Jan . 31, the Trump Administration declared a Public Health Emergency . By Feb . 29, the first U .S . COVID-19 fatality was reported .
By that time, many HME providers were working on their response to the disease . They had to protect staff and patients from COVID-19 and while working work with hospitals and physicians’ offices that were already limiting staff contact . Whole new workflows had to be devised . Providers implemented work-from- home for staff; started using tele- health for working with patients; rolled out new ways to safely handle deliv- eries and equipment setups; and even started conducting referral sales electronically . Meanwhile, industry advocates secured billions of dollars in relief for the industry and worked with CMS to obtain relaxed regulatory and reimbursement guidelines to make it easier for HMEs to operate during the public health emergency . Now, the question is, how will this pandemic impact HME’s future?
COVID-19’s Ongoing
Impact on HME . . . . . . Page 6
What’s Inside:
Annual HME Handbook . . . . . . . . . 10 Compression Product Solutions . . . . 27 HME Inventory . . . . . . . . . . . . . . . . . . 28 TheTelehealthImperative . . . . . . . . . 4 LearningFromaBadExample . . . . . . . 5 ATippingPointforHME . . . . . . . . . . . 31
Last December,
May/June 2020 Volume 27, Number 4 hme-business.com
DIY
Are Ways to Build Your Own
RCM
of rev- enue cycle management . Healthcare organizations such as hospitals, care providers, and health plans have been employing and refining RCM to opti- m m a i z r e g i a n n s d . R m C a M x i mi s i t z h e e t h t o e o i r l r t e h v a e t n e u n e s s u r a e n s d
What options are available to HME providers that can’t outsource their RCM?
success in an outcomes-oriented healthcare marketplace .
d o I w t ’ s n ” t a t k o e t n h a e w r e h a i l l me f o o f r p R o C s M t - a t o c u “ t t e r i c c a k r l e e , i b n u c t l u i t d ’ s i n h g e h r e o mn o e w m . F e o d r i c a a t l l e e a q s u t i p t h m e e p n a t , s t two or three years, some HME businesses have been implementing RCM solutions to improve workflows, patient outcomes and bottom-line performance . Those early adopters have seen first-hand how RCM can revolutionize a business .
That said, typically those earlier HME industry implementations of RCM have been on a larger scale and outsourced . So, where does that leave the majority of providers that clearly understand the value of RCM but might not be at a scale that lets them join the outsourced RCM game?
It turns out there are tools available to all providers that can let them create their own RCM solutions . Those homegrown solutions might not have the scalability and flexibility of outsourced RCM, but can at least start to yield some of RCM’s rewards . Read this month’s cover, “DIY RCM for HME,” story to learn more . Do-it-Yourself
RCM . . . . . . . . . . Starts on Page 20
What’s Inside:
Medtrade Spring Sneak Peek . . . . . 12 News, Trends & Analysis . . . . . . . . . . 6 Take the Time to Get Involved . . . . . . 4 AccreditationOfferings . . . . . . . . . . . 26 HMEInventory . . . . . . . . . . . . . . . . . . . 28 HMEAdvocacySavesLives . . . . . . . . . 30 RCM is a Key Process & There
We’ve all heard
March 2020 Volume 27, Number 2 hme-business.com