I was reading the playbook put out by VGM “Analyzing Business Operations”. It is very good and has some excellent suggestions. If you’re not familiar with the VGM Group, it is an excellent member service organization that provides support and industry advocacy for the HME/DMEPOS companies in the United States. The playbook spent considerable time and space discussing how bad hires cost money, productivity, morale and potentially your reputation.
On costing money, VGM pointed out that you spend money on salary, training, and possible severance pay for hires that do not perform to your expectations.
On costing productivity, VGM stated that supervisors typically spend 17 percent of their time – or one day per week – managing employees who perform poorly.
Employee morale suffers, according to VGM, due to personality conflicts which affects other employees and their productivity.
Finally, your reputation may suffer if the terminated employee posts negative comments about your company on social media or other online sites.
What if I told you that we can help you eliminate a large part of this headache? Whether it is business as usual, or you won a competitive bid and need to ramp up, we can provide as many FTE as you need. Outsource your FTE needs for billing and collecting and this is what this means to you:
- Significant reduction in HR expenses. We cut your HR expense by 50% or greater. If you currently have ten FTE doing your billing and collections, your salary expense for those FTE is likely around $400,000 per year. Outsourcing those 10 FTE to us would cost you less than $200,000. Could you use an extra $200,000 to your bottom line?
- Flexibility. As you grow or shrink, we can add or reduce FTE quickly with no hassle.
- Efficiency. Our FTE are certified billers and coders. They have, at a minimum, a bachelors degree in the health sciences. We are fanatic about submitting clean claims. This is how we can proudly proclaim that 98% of our first time claim submissions get paid.
- Other cost savings. With remote FTE, you do not need to pay for space, equipment, benefits, vacation time, or lost productivity.
It just makes sense. Especially as your revenue continues to tighten and your expenses continues to increase. Let us help you. If you’re in any way unsure, give us a no-obligation try. Call me or send me an email to find out more.
877-327-5284, extension 1