ELIZABETH, CO – Inspired by the wildly successful HBO series Game of Thrones, my educational session at Medtrade Spring will outline nine revenue diversification and maximization techniques along with a proven accounts receivable strategy to reduce days’ sales outstanding (DSO) and improve cash flow.
Whether you are from House Lannister, Arryn, Baratheon or Greyjoy, you will learn some obvious (and a few not so obvious) ways to help offset shrinking margins and demographic changes that affect the Home Medical Equipment market.
A sample of the revenue diversification / maximization topics that will be covered are:
• Developing Retail – Cash is king and has a DSO of 1. Retail cash sales are becoming a greater part of a successful provider’s offering. Many “retailing 101” topics will be reviewed.
• Data Mining – There is a treasure-trove of valuable information in your enterprise software. Find out how it can help steer your business.
• Determined Use of the ABN – Learn how to properly use this powerful yet misunderstood document.
• Document Imaging – Time to join the 21st century and become paperless.
• Dramatic Marketing – Marketing today with 1980’s techniques will not work. Learn how to market in today’s environment.
In addition to the revenue diversification/maximization topics, a proven strategy for the collection of the receivables you currently have will also be reviewed. It will include different approaches for collecting Medicare, commercial payor and private pay balances. Don’t be like Joffrey. Be more like Stannis and aggressively go after all the dollars that are legally yours. Margins are thin and effective collections are imperative.
If these Game of Thrones references mean nothing to you it is recommended that you binge watch the first five seasons prior to Medtrade Spring so you will understand any references given during the presentation!
Maintain the “King of the Castle” position in your market by attending this Medtrade educational session on Tuesday, March 31, from 2:45 p.m. – 3:45 p.m. It’s called: Game of Thrones – Stay on the Throne by Adopting New Profitability Strategies and Collecting AR.
Bruce Brothis is president of Allegient Billing & Consulting Inc, Elizabeth, Colorado.