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HME Business Growth Strategies: A Data-Driven Approach

Learn how to leverage competitive intelligence, develop patterns, optimize business, boost sales performance, and measure ROI for sustainable growth in the HME industry.

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HME Business Growth Strategies: A Data-Driven Approach

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  1. HME Business Growth Strategies: A Data-Driven Approach Ty Bello, President & Founder, Team@Work John Griscavage, CEO, PlayMaker Health

  2. Please Complete Your Evaluation Everyone should have received an evaluation form upon entering the session. Please complete evaluation form and turn in to room monitor as you exit the session. Or, you can complete your evaluation in the mobile app. Locate the session in the app and tap on the clipboard icon to begin the survey. Please help us keep the Medtrade Spring Education sessions the best in the industry by completing an evaluation for every session you attend! Your feedback is very valuable to us and will be used in planning future Medtrade Spring events! Connect with us on Social Media Twitter: @MedtradeConnect Instagram: @MedtradeConnect Facebook: facebook.com/medtrade #MedtradeSpring19

  3. Today’s Speakers John Griscavage CEO PlayMaker Health Ty Bello President Team@Work

  4. Incorporate Benchmarking: Leverage competitive intelligence that is actionable and supports forecasting • Develop Patterns: Identify high-value referral sources and partner networks, and understand where current business is coming from • Promote Business Optimization: Improve profitability and your bottom line • Boost Sales Performance: Increase productivity, not just activity, using referral trend reporting • Measure What Matters: Determine ROI as evidence that supports organizational growth • Empower Your Organization: Leverage HME-specific technology solutions Learning Objectives

  5. Make Sales Calls • Convert Prospects to Referral Sources • Grow Referral Base Accounts Sales Professional Objectives

  6. “Business men go down with their businesses because they like the old way so well they cannot bring themselves to changes. One sees them all about – men who do not know that yesterday is past, and who woke up this morning with their last year’s ideas.”— Henry Ford

  7. Leverage competitive intelligence that is actionable and supports forecasting • Use market data to understand your competitive position in your area • Identify areas of weakness in competitors and develop a data-driven strategy to capture additional market share Benchmarking

  8. THERE Business Optimization… THE PATH COURSE BHAG HERE

  9. Review past 2-3 years • Sales by Product Category • Referrals by Category • Profit Margin by Category • Chart Peak Performances • Monthly and Quarterly • Assess Seasonality and other Factors History and Peak Performance

  10. Oxygen Example • Delivery • Product Mix • Stationary • Stationary & Concentrator Portable • Stationary & Conserver Portable • Self Fill • POC Profitability Analysis

  11. Profitability Calculator

  12. HCPC Code E1390 E1390 & E1392 E0601 E0483 Equipment Cost $375 $1375 $250 $5495 Maintenance Cost $198 $865 $100 $0 COGs $573 $2240 $350 $5495 Reimbursement$1930.57 $2952.60 $461.48 $12563.75 GP $ $1357.57 $712.60 $111.48 $7068.75 GM% 70.32% 24.13% 24.13% 56.25% ROI 9.98 Mo 7.92 Mo 9.61 Mo 5.19 Mo Profitability: Bottom Line Impact

  13. Measure What Matters Leading and Lagging Indicators Leading Indicators Lagging Indicators Output Oriented Easy to Measure Hard to Improve • Input Oriented • Hard to Measure • Easy to Influence

  14. What Should Our Leading Metric Be? YOU HAVE THE ANSWER

  15. What are the Lagging Indicators? YOU’VE GOT THIS

  16. Referral Trend - Importance • Sales Call Impact • Identify Gaps • Measure Trends “If you are not winning the game, change the way you PLAY!”

  17. Referral Trend – How to Use • Sales Call Impact • Identify Gaps • Measure Trends

  18. GROWTH ACCELERATOR The New Reality

  19. CRM and Data • CRM • Sales Call Metrics • Trends in Trade Area Strategy • Accountability • Data-Driven Sales Approach • Targeted Selling • Dynamic Conversations

  20. CRM and Data Competitive Advantage But what could you do if…

  21. CRM and Data Competitive Advantage Better yet… DEVELOP STRATEGY

  22. CRM and Data Analyze and Grow

  23. CRM – The Recording Component • Sales & Marketing • Centralized Repository • Visibility into real-time • Sales Focus

  24. CRM – The Recording Component Visible Invisible Reduces reporting hours Protects intellectual property Dividing a growing marketplace • Capture notes from calls • Sales data for leadership • Clarity of opportunities

  25. CRM – The Recording Component Time Back into Pocket of Sales Professional Change the myth of Time Management Self-Management The Day in the Life of a Sales Professional… Time Talent Treasure

  26. Ty Bello, RCC President, Team@Work ty@teamatworkcoaching.com 260-627-8938 John Griscavage CEO, PlayMaker Health john.g@playmakerhealth.com 866-930-6847 x110 Contact Information

  27. HME Business Growth Strategies: A Data-Driven Approach Q & A

  28. HME Business Growth Strategies: A Data-Driven Approach THANK YOU!

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