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It’s reality folks: in the world of healthcare, going it alone is virtually impossible these days. As a stand-alone, multi-physician practice or sole practitioner, the myriad of requirements and obligations involved in healthcare have made being a small player a real challenge. Hospital chains, both for profit and nonprofit, have become negotiating powerhouses – and their clout guarantees preferential payer contracts.  

HOW TO MAKE MONEY ON DME AND COMPLY WITH THE NEW REGS

By: Chantelle Walker

New Revenue Stream Provides Easy Access to Significant Profits

The old stock-and-bill model is out the new “physician friendly” model is in. Gregory Simms, President of DME Advanta, LLC speculates that “the in-office DME trend will increase anywhere from 10-25% in the next five years due to a newly established federal mandate which does away with the old ‘stock and bill’ model.” As an industry veteran with over 20 years experience, Simms pioneered the in-office DME protocol after he continued to see shrinking reimbursements, dwindling patient loads and the need for ancillary services to improve profitability. The new model uses such services to put profits back in the pockets of doctors.