Tag: Metrics

Q. What financial metrics guarantee business health?  A. Although there are hundreds of financial metrics to consider for business health, we will focus on five: revenue, accounts receivable, cash deposits, denials and profit.  Revenue is the total of all booked sales for a given period.  To know your revenue, your fee schedules must be up to date. You can then trend your revenue and track growth.  We must acknowledge that there is a delay between the booked sale and...

Q. How can you manage what you don't measure?   A. Metrics. A lot of times we're frozen by inability to even know where to start.  But start you must, because you cannot fly blind. In this industry with tight margins, crippling staffing shortages, ever changing fees and payer requirements, you must know and track what is going on.  Thankfully, the EMRs we use have the data. We must harness this data, refine it, and translate it into actionable insights....

CHARLOTTE, N.C. - Prochant, a provider of HME billing and outsourcing services, has released a white paper, “Are You Tracking the Right Metrics?” to help providers track metrics that are critical to success. The paper suggests using industry-standard key performance indicators (KPIs) such as days sales outstanding, 90+ A/R, payment rate, and write-off rate allows providers to measure and track what is most relevant to their decision-making process. “The KPIs shared in our new white...

ATLANTA - Lab Tactical Consulting has launched LabTac Academy, a collection of online courses for HME leaders. The courses draw on the Lab Tactical team's experiences in the field with providers. The first bundle of courses offered through the academy is called HME Business Basics and comprises “Excel for HME,” “Net Revenue in HME,” and “Baseline Metrics in HME.” “This series of three courses will share no-nonsense insight into managing the revenue metrics...

A. Typically when we receive questions about tracking metrics, they are from providers searching for ways to improve their business, but unable to determine which areas to focus on. It is increasingly imperative that organizations manage every area of their business through metrics, with a keen eye on constantly improving processes and streamlining or eliminating repetitive tasks and activities. We always recommend that providers start with measuring and monitoring business metrics like days...

The Sword in the Stone film It was a whirlwind day in Baltimore. There were five sessions and two workshops, as well as a networking reception. Here are some highlights from the day's events: Godzilla vs. Mechagodzilla II full Bad Dreams release Possession hd Douglas Hough, a professor at the Johns Hopkins Carey Business School, told attendees that the success of independent HME providers in the next several years will depend on their ability to prove their clinical effectiveness. If providers...