Business

Part I of the buying and selling series focused on representations and warranties when entering into a purchase agreement to sell a business. This part II of the series focuses on specifically the indemnification section of the purchase contract. This is another section of the purchase contract that is typically glossed over, but should be reviewed carefully. The representations and warranties let them know factual statements about the business. The indemnifications section spells out how

Are you thinking of buying or selling a business? Within the actual purchase agreement, representations and warranties are one of the biggest causes for post-closing disputes, but they are often overlooked. This section is where the parties make factual statements and the condition of their business as of a certain date. Typically, sellers give more exhaustive representations than buyers, which makes sense since the seller is making representations on the business as a whole. The buyer would make

Ever since providers had to become accredited in order to bill Medicare, the importance of accreditation has continued to grow. Where accreditation once was something providers sought out as mainly a requirement they needed to fulfill, they quickly realized that accreditation can help them better respond to immediate industry changes and market opportunities. Moreover, accrediting organizations now offer specialized accreditation programs to help providers distinguish themselves as expert providers

Each quarter, Essentially Women issues statements that show the total amount in sales reported to EW from our participating vendors. Many members have asked how they can make sure they are getting all of the vendor discounts available to them or vendors they purchase from are missing from their statement. To make sure that you are getting the Essentially Women participating vendor discounts and rewards, if the vendor pays rewards, we need your vendor account numbers. Providing vendor account numbers

Assume that a physician does not directly or indirectly generate referrals of federal health care program (“FHCP”) patients to a DME supplier. If the supplier compensates the physician for services, then neither the federal anti-kickback statute (“AKS”) nor the federal Stark physician self-referral statute (“Stark Law”) will be violated. Now let’s change the facts and assume that the physician does directly or indirectly generate FHCP

Recently, HME News sat down with Miriam Lieber from Lieber Consulting LLC to discuss succession planning. When and how should businesses start thinking about a succession plan? Miriam's advice? Start planning well in advance. Start skill building with an identified core group of staff. Teach and train leadership techniques to the most talented staff members. Create goals and metrics and communicate them to be able to gauge how well team members are able to perform and measure up to expectations.

DME suppliers are currently preparing for Competitive Bid Round 2021. Only certain product categories are included in competitive bid. Please note, this is the first round for off the shelf back and knee braces to be competitively bid.  Bidder registration period and the bid window will likely open in June 2019 (this date may change).  EW members who are planning to participate in this current round of bidding, prepare now. VGM has put together tools to help our members go through

This article comprises the second in a series of four that looks at the benefits of outsourcing the four financial functions of Accounts Payable, Accounts Receivable, Payroll, and Financial Planning and Analysis. Our first article, on accounts receivable, noted how outsourced personnel bring IT, financial, and customer service expertise to a growing firm that otherwise would have to discover that expertise on its own or hire a more expensive but still unnecessary full-time employee. For

A “loan closet” is the same thing as a “consignment arrangement”…which is the same thing as a “stock and bill arrangement.” A DME supplier can have a loan closet with a hospital, physician, wound care center, and other providers. Recently, Medtrade featured an article focused on a loan closet between a DME supplier and a hospital. However, the discussion in this article also applies to loan closets with other types of providers. Medtrade covers

What is your succession plan? Do you have a basic plan outlined if a key staff member would suddenly be gone? Miriam Lieber, a speaker at 2019 Focus Conference, recently outlined some key steps that every business owner, regardless if they are a retailer, HME provider, mastectomy business, or anything in between should follow. Make sure your business has a succession plan in place. Identify key staff in your business and train or cross-train to prepare for them to either take over the business in