As your reimbursement, regulatory and business environments continue to evolve, you’ve probably looked at how to reduce costs on multiple occasions. You’ve had to make some difficult decisions. One thing is for sure, you don’t want to incur additional expenses. But, what if an expense could yield new cost savings and efficiencies and pay for itself in less than a year? Asset management software can do exactly that.
Asset tracking software helps companies streamline and simplify asset management processes by automating workflows. Employees using handheld mobile devices follow step-by-step screens that lead them through a predetermined sequence of tasks. It’s impossible to skip a step as the mobile device screen won’t advance until the employee enters the appropriate information on the current screen. This eliminates unnecessary steps, increases worker compliance with defined operating procedures, standardizes workflows and improves process control. Continue reading →
Asset Tracking Software Helps HMEs with Compliance and Communication
As a medical equipment provider, you’re subject to a considerable amount of regulatory requirements and accreditation standards. And you probably manage contracts that each have specific obligations to which you must adhere. It’s a lot for anyone to remember.
If you’re using handwritten signs or sticky notes to communicate critical information to your employees, you could be leaving your business vulnerable to serious consequences. Asset tracking software like TrackAbout can automate the communication process and free you from worry. Continue reading →
Lockhouse will use a few key attributes of a cylinder (including serial number and other
properties) to uniquely identify assets with a readable code. This code then becomes the Passport Tag™ for that cylinder, which accesses a web-based application containing updatable information about each asset in real time. Manufacturers and owners can add important critical information, and can receive feedback and GPS coordinates of the asset from the operator.
Tim Fusco, TrackAbout’s CEO, likes to call Lockhouse a “virtual neck ring.” Since its inception, the industrial gas industry had used neck rings and other markings on cylinders and other packaged gas containers to indicate ownership. With so many acquisitions among packaged gas suppliers over the years, today neck rings are not always correct or useful. Lockhouse is a Virtual Neck Ring that indicates ownership and links to dynamic critical safety and inspection information as well as any other information that the owner wants to make public.
“Over the next decade, smart asset management will transform operations, marketing, finance and human resources. And it will forever change the way the enterprise views its assets.”
CIO Insight blog, “Being Intelligent About Your Assets”
A company’s portable assets often represent a substantial investment and success depends on the ability to manage them effectively. To do so, businesses are increasingly relying on asset tracking software, especially because the efficiencies created and the return on investment in tracking technology are so high.
In a recent blog post for CIO Insight, Samuel Greengard wrote, “Organizations that use intelligent asset tracking aren’t only able to understand what assets they possess, but they can also identify where they’re located, how they’re being used, what their condition is and how well they’re being maintained. This, in turn, can help organizations understand demand, supply chain issues and everything from optimal pricing to staffing. It can also help them understand product and machine lifecycles and financial issues, such as variable and fixed costs.” Continue reading →
Proper documentation is critical to CMS reimbursement. Yet research shows that 33% of Medicare claims are rejected due to inadequate proof of delivery.
Most suppliers operate a trustworthy business, but mistakes can still occur. Paper forms are prone to loss, illegible handwriting, incomplete information, inaccurate data and missing signatures. Storing, and eventually destroying, all that paper can be a costly hassle. In the world of post-payment Medicare audits, the obligation to maintain these records doesn’t end when payment is received. CMS requires suppliers to maintain these records for seven years. Continue reading →
New technology is transforming the way companies manage their assets. Asset tracking software is not simply about knowing where your assets are. Today, it’s about providing a complete history for every individual asset and using this information to achieve operational advantages. If you’re still using a manual system to track the comings and goings of your equipment or if your current software system only tracks the location of your assets, your competitors just might leave you in their dust. Continue reading →
It’s been a rough road for many HME providers. From competitive bidding to audit chaos to face-to-face requirements, all sorts of outside influences impact your bottom line. You might feel like your hands are tied. However, there are things you can do to gain more control and remain competitive in this challenging environment. Continue reading →
Although companies are achieving substantial benefits with asset tracking software, it’s still a new concept for many businesses. If you’re just entering the arena and are trying to figure out if your business can benefit, here are five clues that will help you sort it out. Continue reading →
How HMEs Can Maximize Tracking Technology to Compete in an Uncertain Marketplace
By now, you’re probably aware that an automated asset tracking software solution offers a world of advantages including better equipment utilization, loss prevention, accurate rental billing, and more. These benefits alone can help your company survive as your reimbursement, regulatory and business environments continue to evolve.
However, the value of asset tracking software doesn’t stop there. Collecting data about the physical location of your equipment is only part of the picture. When you extend the capability of the mobile device – whether it be a handheld computer or a smartphone or tablet – to automate your workflows, you access a new level of efficiency and control. Continue reading →