Page 31 - HME Business, May/June 2022
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2022 HME BUSINESS HANDBOOK
SMARTER REFERRAL TARGETING WITH MARKET DATA
Market data allows HME provider busi- nesses like yours to gain a better under- standing of potential opportunities and visibility of the best referral sources in your area. This is a critical tool to ensure your sales and marketing teams have guidance on where to focus their time and efforts.
With market data, your organization can validate a prescriber’s volume or referrals for both current, and prospec- tive, referral sources. This will unveil any untapped potential referrals your team has been missing out on and should begin targeting, while also maintaining existing relationships.
UNCOVER INSIGHTS INTO YOUR COMPETITION’S MARKET POSITIONING Market data also brings to light the competition you are facing and where potential referrals are going. Use insights to benchmark your performance and evaluate how you compare to peers by diagnosis-level metrics, payer mix break- outs, and other quality metrics.
Having this information equips your sales team with the knowledge they need to create a compelling marketing message as to why your organization is a better partner.
As the saying goes, knowledge is power and market data brings visibility to the actual number of referrals and market share your business is receiving. This level of awareness allows your organization to act on gaps or missed opportunities.
POINTS TO REMEMBER
• The right tools and insights will improve your operations.
• Market data is key for validating existing and new referral partners.
• Insights should be utilized to adapt your marketing message.
• A CRM captures critical information from your sales team’s activities
• HME provider businesses will benefit from adapting and utilizing the resources available.
LEARN MORE
Trella Health, which acquired PlayMaker Health in December 2021,
A CRM TOOL FOR PERFORMANCE VISIBILITY
A CRM is a game-changer for HME busi- nesses struggling with ways to measure the ROI (return on investment) of their team’s activities.
Capturing key information from referral visits, topics of discussion, and visits that result in referral gains allows leadership to better strategize and fore- cast for achieving personal and company goals. Not to mention, obtaining historical data on accounts is crucial for accurate reporting, attribution, and even onboarding new employees.
A CRM should include real-time activity tracking, executive-level dashboards, and referral pipeline performance.
Another critical component is a mobile app, so activities can be documented on the go. Tapping into this powerful tech- nology to help with territory manage- ment, call volume, and sales techniques can fuel your agency’s growth.
USING TOOLS AND RESOURCES FOR GROWTH AND OPERATIONAL SUCCESS
It can be challenging to fully evaluate
the opportunities in your market land- scape, but with the right tools to equip your business development team, your organization will benefit. HME organiza- tions that adapt and utilize new tools and resources will find the most success with growing their business. ■
Ashton Davis is the marketing manager for Trella Health and has spent her career working in marketing and sales in the healthcare industry.
provides the post-acute industry with the most comprehensive healthcare market data, CRM, and EMR integra- tion solutions, all in one platform.
With Trella’s market intelligence and CRM for home medical equip- ment (HME), customers can feel confi- dent their sales and marketing teams are focusing their time and efforts
on building the relationships that will have the greatest impact.
To learn more about ways to improve your referral sales with market data and a CRM, schedule a demonstration with Trella Health at www.trellahealth.com/demo.
HME SALES
HOW TO IMPROVE REFERRAL SALES USING MARKET DATA AND CRM
T
HE OPERATIONS for
HME businesses continue to evolve as organizations learn
to work smarter, not harder, to improve their strategies for their sales and marketing teams. To be successful, teams need direction and a clear plan to focus time and energy on referral targets that will bring the most business to their organization. But what is the best way to identify these targets and evaluate success?
To end the guessing game of referral targeting, market data
is becoming an essential tool to effectively identify the best sources of referrals to grow your HME business. Territory plans lacking market data result in inefficient targeting strategies and poor planning. Market data brings
to light the major questions your organization may be asking, such as “Are these truly the top referrals to be targeting?” Or “What partners are we missing out on that should be on our list?”
In addition to market intelligence, a CRM (customer relationship management) tool will streamline your sales and marketing team’s efforts and increase productivity. It is easy
to lose track of account notes or business development metrics, but a CRM tool enables consistent and clear documentation, so you never lose sight of your business’s performance.
By Ashton Davis
Management Solutions | Technology | Products hme-business.com | May/June 2022 | HMEBusiness 29