With regulatory pressures making for a rocky road, providers are trying to find ways to keep their businesses in the fast lane. As competitive bidding threatens to drop the ceiling on margins and perhaps force providers to almost reinvent how they do business, finding new efficiencies, cutting costs and discovering and maximizing new business opportunities are the name of the game.
Besides, when you get right down to it, providers simply have too much to do when it comes to running their business. From servicing customers, to staying on top of billing, to getting new patients, they are already redlining.
“The biggest thing we’re hearing from the providers is ‘I want to focus on patient care and growing our referral basis,’” says Dave Cormack, CEO of network-based HME systems provider Brightree Inc., which recently signed a 10-year agreement with the VGM group. “They say, ‘Competitive bidding updating prices tables, etc. -- It’s engulfing us.’”