Becoming a durable medical equipment (DME) supplier and selling the items can be a profitable endeavor but also requires complying with several rules and regulations. Make sure that when you’re ready to sell DME, you’re working with a skilled staff to ensure success.
We’re here to help educate you on the five things you should know about how to sell DME equipment in today’s market.
How to Sell DME Equipment Legally
Before you can sell DME supplies to patients, you’ll need to become an accredited supplier. You could be subject to criminal and civil penalties if you attempt to sell equipment without a valid license.
5 Things to Know About Selling DME
Just like with any business, how to sell DME items requires several factors to ensure success. This article will focus on five components for success: effective marketing strategies, a strong intake process, high-quality customer service, well-defined KPIs, and a healthy AR department.
Effective Marketing Strategies
Selling DME supplies in today’s market requires you to be creative with your marketing strategies. For example, finding ways to provide value to patients can make you the preferred choice over other suppliers. Additionally, try connecting with doctor offices, hospitals, and short-term nursing facilities to market to potential customers.
A Strong Intake Process
Did you know most claim denials go back to intake? You can significantly reduce claim denials when you create and maintain a patient intake system. It’ll also help you receive the maximum reimbursement amounts.
High-Quality Customer Service
How your staff interacts with current and potential customers plays a vital role in your business. Since most DME patients are older, they can have difficulty understanding their financial responsibility for an order. If your staff can’t effectively communicate with them while maintaining a positive attitude, it could end in delayed payments and negative reviews.
Provide your staff with communication strategies on how to establish rapport, engage in active listening, and speak in shorter sentences.
Key Performance Indicators (KPIs) allow you to monitor the business’s successes and failures so you can make adjustments for your business as needed. KPIs are a powerful component to ensure that the DME you’re selling is also profitable.
Are you confident that you’re using the best KPIs? Are you sure that your data is accurate?
A Healthy AR Department
A proper AR department will streamline your business and help produce a healthy cash flow. However, if your AR department is struggling with correcting denied claims or staff shortages, errors can occur, especially with the price table. In addition, if your table isn’t up to date, it could skew the reporting data (many times indicating there’s more revenue than the reality).
You can confidently make business decisions when you have a healthy AR department with accurate data.
Learn how AR management services can help your business grow.
Help Your Business to Prosper with Medbill
Industry changes will constantly occur, and working with the right industry partner can help ensure you’re set up for success. At Medbill, we provide several DME billing services to help your business thrive.
Contact our team to learn how our services can lower your denials and increase your collection rate!