HOW TO REMAIN PROFITABLE
IN THE FACE OF COMPETITIVE BIDDING
Let us show you how to optimize profitability on your wheelchair and hospital bed referrals.
It’s no secret that Competitive Bidding has created many challenges for Home Medical Equipment providers since its inception – some foreseen, some unforeseen. Competitive Bidding was introduced to level the playing field and stimulate healthy competition. But in some instances, it has virtually eliminated the playing field. Now providers are left to pick up the pieces.
Providers are being forced to lower their prices in order to compete for bids. If their prices aren’t low enough, often times, they are losing business. For those fortunate enough to win bids, they find themselves in the precarious situation of being locked into a contract with no price increase for up to three years and forced to accept a decrease in reimbursement. In all of these situations, it’s increasingly challenging for providers to remain profitable. In fact, many small Mom & Pop shops have been forced to throw in the towel – calling it quits. Moving forward, how can providers offset this loss of revenue?
Could an Upcaring Program Increase Your Wheelchair and Hospital Bed Profits?
Let us show you how an upcaring program can make your wheelchair and hospital bed sales profitable in the first months.
Learn How Much Your Company Could Profit from Upcaring Wheelchair and Hospital Bed Accessories
See our sample calculators, and contact us for a custom analysis.
How Upcaring Wheelchair and Hospital Bed Accessories Can Increase Operational Efficiency
Upcaring wheelchair and hospital bed accessories can have a positive impact on increasing operational efficiency.
How to Implement a Wheelchair and Hospital Bed Upcaring Program
Learn the steps to successfully implementing an upcaring program.
How Can Providers Remain Profitable?
The best way to try to combat decreasing profitability is for the provider to look at everything they are doing - or not doing. They need to take a step back and ask themselves if they could be doing it differently. Many providers will say that they’ve closed branches, cut staff, reduced their vehicle fleet and more just to make ends meet. But it’s also important for them to look at how they are selling and caring for their patients.
For instance, one of the easiest ways to increase profitability, specifically on wheelchair and hospital bed referrals, is by focusing on the patient comfort and safety accessories. By upcaring and adding these much needed accessories, it helps the provider support two very important goals:
1) It increases the comfort and safety of the patient while using their wheelchair or hospital bed, ultimately improving their overall comfort, safety and independence
2) It can increase the amount of reimbursement the provider receives from each wheelchair or hospital bed referral, ultimately increasing profits.
The good news is that if a patient qualifies and receives a wheelchair, he or she also automatically qualifies for many wheelchair accessories. The vast majority of patients who qualify for a hospital bed will qualify for and benefit from having a Group 1 support surface. It may not solve all your problems but upcaring hospital bed and wheelchair referrals with accessories can make your patients smile a little more often. You’ll smile a little more, too, when the reimbursement check comes in.
On the other end of the spectrum, patients who need these products are often forced to wait for deliveries or service from out-of-town providers, leaving them even more concerned about their well-being.
People’s livelihoods are at stake here.
