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The Next Phase In Sales For Our Industry
By Mike Ferris, Director, Simione Consultants
I am not usually into trying to predict the future, but
after a thorough investigation into the explosive growth of referrals, I've
discovered what the most consistently successful way there is for Sales Reps to
grow their referrals! (and most are not using it.)
My feeling is, once our client's competition starts looking
into why they're growing rapidly, they too will jump on this unexplored
bandwagon.
For years, the paradigm shift for Home Care and Hospice was
for agencies to realize that Sales wasn't a bad word. The hiring of Reps
to go out into the community and sell the benefits of using our wonderful
services could both grow the bottom line AND help patients in need. Now that
this concept is slowly becoming old news, the new frontier will be NOT to only
compete for existing referrals, but instead to focus on expanding our best
referral sources use of our services.
This concept may seem benign, or obvious, but with 95% of
agencies in our industry NOT doing this, and the 5% that are (mostly our
clients) have seen some astounding results...well, you get the picture.
On the surface, this concept may also seem easy to
accomplish or implement. I can guarantee that it is anything but. In the
training we've provided clients, it has involved a subtle and intricate shift
in techniques and thinking for each Sales Person, necessitating a unique and
continual training approach.
Long having brought this training on-site to our clients, we
are now about to release a version of this training that can be learned and
integrated while listening to it in the car between sales calls. We call it our
iSELL Mobile Learning Library, and the Hospice version will be released April
21st, and the Home Care version will be released in the Fall. For
more information visit http://www.hchms.com/product-detail/24/Training/isellhospicemobile
For more information about the benefits of our on-site
training, please email me and I will be happy to talk with you about your needs
and how we can work to best serve them.
To learn more about Marketing, Sales and Customer Service,
click here
To sign up for the Legendary Sales Leadership e-newsletter,
click here
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Come Visit Us at the NHPCO Conference Booth 402 this Thursday, April 22nd and Friday, April 23rd
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 Compliance Tip.....
By Robin Seidman, RN, BSN, MSN, MBA, LNCC, HCS-D, Director, Simione Consultants
REMINDER: April 1st Mandatory Compliance Date for CR6540: All hospice providers must report the National Provider Identifier (NPI) of the attending physician/NP in the attending physician field on the NOE and claim with effective dates or dates of service on or after April 1, 2010.
To learn more about our Compliance Consulting Services, click here |
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FINANCIAL MONITOR TM
How Does Your Commercial Insurance Collection Compare With Other Home Health Agencies?
By Rob Simione, Senior Consultant, Simione Consultants
- We didn't receive your claim
- It's being sent back for reprocessing
- Call back in 30 days
- Claim was denied for missing a procedure code
Do these statements sound familiar? These are some of the most common answers given when trying to collect commercial insurance claims. Did you know the average Days Sales Outstanding (DSOs) in the 4th quarter for commercial insurance are 68 days? DSOs are an important financial metric for Home Health Agencies to review every quarter. By looking into your Days Sales Outstanding and comparing them to industry benchmarks, your agency has the ability to better understand the performance of your intake and/or billing and collection departments. In reviewing your DSOs, you will be able to understand the length of time (in days) it takes for one dollar from a sale to actually be recognized as cash. An agency should have a goal of keeping their DSOs below the national averages. If your Days Sales Outstanding is significantly higher you may want to reevaluate your intake and/or billing and collection processes.
To learn more about the Financial Monitor click here
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 Cost Report Tip
by Maureen Laskowski, Director
Simione Consultants
If your cost report is due May 31st and you have not yet registered for the IACS system to obtain the PS&R report, contact your FI/MAC immediately. They may be able to send you an electronic copy of the PS&R report for this filing period only. You still need to register as soon as possible to obtain subsequent PS&R reports. Go to http://www.cms.gov/IACS and click on the CMS Application Portal to register.
Need some guidance in preparing your cost report? Click here to view our power point presentation on how to prepare your Medicare home health cost report.
To learn more about our Cost Reporting Consulting Services, click here
To View Our Power Point Presentation on The Home Health Cost Report, Click Here |
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