According to the organizers of Medtrade Spring, the industry outlook is moving from cautious optimism to optimism. As we were talking to attendees, we could hear the optimism in their voices.
We know the HME/DME industry is continuing to change. Today, HME/DME is a $46.5 billion industry. It is projected to grow to more than $60 billion by 2020 according to Harris Williams & Co. In 2010, one in ten companies only offered High Deductible Health Plans (HDHPs) to employees, Last year, one out of three only offered HDHP plans. This means private pay portion in the HME industry will continue to rise. By 2020, the industry expects to nearly 37% of the industry’s A/R to come through private pay. Business owners need to be prepared for this change. We were happy to demonstrate how technology and automation can help them incorporate best practices in their private pay collection process.
Medtrade provided many opportunities for attendees to learn about new products and ideas–the exhibits, the panels, the discussions. We heard both presenters and attendees enjoyed the new panel format for some of the educational sessions. The interaction of the panelists brought a new dimension to the session. Allegiance Group was proud to sponsor Andrea Stark, one of the panel presenters at two of the educational sessions.
We want to thank Medtrade for providing us the opportunity to meet with so many HME providers at this conference.
We look forward to Atlanta!
Quality DME was writing off a lot of patient A/R because they did not have complete Patient Pay Billing and Collection system. Their staff was responsible for printing and mailing statements but did not have time to make collection calls. So, they used the outside collection company. Without an integration with their collection company, it was challenging to track the payments the collection company received.
Quality DME Boosts Collections through Integration
CareLinc improved intake process significantly reduces Patient Pay A/R
Upstate HomeCare’s Automation or Patient A/T Yields 80%
Gundersen Palmer’s Recovery Performance Exceeds 90%
Keene Medical Products
We are now attending events in person. Please join us at the following events:
