Business

Like you, Essentially Women and all other communities here at VGM are closely watching and adjusting to the coronavirus (COVID-19) situation as it develops. We continue to work relentlessly for your success. Essentially Women remains open to help serve you. Please contact us if you have questions or concerns during this time. Our teams have been in contact with CMS and other government entities to get answers for your questions. To stay connected on the latest information, visit vgm.com/coronavirus.

In an age where many industries are turning to technology to advance their businesses, there’s one industry where having a physical showroom gives you the upper hand – and that’s retail! While brick-and-mortar retailers often struggle to compete against the low prices available online, solely online retailers can’t compete with the traditional retailer’s ability to capture the “touch and feel” customers. Physical stores provide customers with a different

HME Business recently shared what providers should look for in software to help owners track their key performance indicators (KPIs) in order to know the right information about their business.  Key data points to keep in mind include:  Days Sales Outstanding (DSO)  Outstanding Accounts Receivable Over Time  Gross Profit  Cash Flow  Sales Per Square Foot  Inventory turn times  Unit sales  Along with identifying KPIs, it is also

HME experts often position retail sales as the ultimate panacea to whatever ails an HME business. It makes sense: retail sales are free from the hassles of Medicare and private payer; they aren’t subject to capricious price cuts; they can expand a provider’s reach into all new markets.  However, there are a number of real world business issues associated with retail sales, as well. One of the most important is purchasing.   HME Business provides information about why managing

By: Ryan Ball This article was first featured in Essential Advantage Fourth Quarter 2019.  Strategic planning season is upon us, are you ready? Often times strategic planning feels like you’re pulling numbers out of thin air. You have a goal in mind, but it is difficult to quantify how, exactly, to get there. In today’s world of providing specialty medical equipment, with increasing competition, women’s health boutiques must leverage business from more physicians if you

Medicare and commercial insurers are pushing providers and suppliers away from the traditional fee-for-service (“FFS”) reimbursement model and towards a coordination of care reimbursement model. Under the coordination of care model, reimbursement is tied to patient outcome, which is dependent upon providers and suppliers working together. CMS and the OIG have correctly determined that the federal anti-kickback statute (“AKS”), the beneficiary inducement statute, and the

9 Steps to Improving the Working Environment Customer service representatives (CSRs) have a very important role to play in your company. Anyone that interacts with customers or patients should have strong customer service skills that reflect your company and brand and also positively impact the customer experience.  While you may not have CSRs who work in a call center environment, these nine areas are worth reviewing for anyone who interacts with your clients, ie- anyone in your

VGM & Associates' podcast, "Industry Matters-Powered by VGM" is back with two new episodes this week.  Episode 45: 2020 HME Outlook and Leadership Chat with Miriam Lieber is the first episode of a new leadership series featured on Industry Matters. VGM's Lindy Tentinger is joined by Miriam Lieber, President of Lieber Consulting LLC, for an informal chat about the 2020 outlook for the HME industry, leadership, and employee engagement thoughts. Listen below or click

By: Miriam Lieber, President, Lieber Consulting, LLC One of the key observations I note at each of the businesses I visit is that you are only as good as the people who work for you. Moreover, you are only as good as the next leader you develop. In fact, you should be looking for your replacement. As owner or executive leader of your company, you should be thinking of your succession plan. Easier said than done, we will explore the topic in this article. No single factor has a greater impact

For more than 20 years, Essentially Women has been committed to providing benefits and services to hundreds of mastectomy and home medical equipment providers, salons and boutiques nationwide. EW strives to foster relationships to help build strong business alliances, to connect you with like-minded professionals and experts, to provide essential business programs and services that help you compete and prosper, and to make sure that you have the time to focus on what you do best - take care of patients