Monday, April 20th, 2009
8:00am - 9:00am
How Do You Measure Up?
The 3rd Annual HME News/SRA Financial Benchmark
It’s back again by popular demand: the 3rd Annual HME News/SRA Financial Benchmark study, the most credible industry report of its kind. Whether it’s revenue per full-time employee, average DSO, operating expenses as a percentage of net revenue, monthly oxygen setups per sales rep (and that’s just for starters), we provide solid averages based on input from hundreds of providers. The HME News/SRA Financial Benchmark study eliminates the guesswork and presents reliable information that helps HME providers evaluate and improve their company’s performance. Data is divided into three groups: rehab, HME/RT and hospital-based HMEs.
Presenter: Tim Pontius, Steven Richards and Associates
9:15am - 10:15am
Insights for Success
HME 2014: A Look “Back” on the Past 5 Years of Healthcare Reform
If you’d like some idea of how your HME business will fare under federal healthcare reform, Johns Hopkins business professor Douglas Hough is here to help. Hough “transports” himself to 2014 and reviews the two leading reform options, a single-payer system and an expanded employer-based program. He examines their likely impact on the healthcare industry and then zeros in on HME. Has your company survived the changes? And if so, how have you transformed your delivery and service model? If Congress proposes a different reform plan, Hough will address that directly. This session offers insights for success from an expert on the business of health care.
Presenter: Douglas E. Hough, Ph.D. associate professor, The Business of Health, The Johns Hopkins Carey Business School
10:30am - 11:15am
Street Talk Workshop
Provider Helping Provider: It Doesn’t Get Any Better Than That
Part 1: Generating revenue
These annual Street Talk sessions provide some of the best networking opportunities in the HME industry. Attendees divide into three groups and discuss their business highs and lows: What worked and what didn’t work. This is brainstorming at its best. Are you kicking around an idea and wondering if it’s going to fly? This is the place to get feedback. The two-part program covers growing revenue and cutting costs, and will surely address Medicare’s 9.5% reimbursement cut and oxygen cap. Street Talk is simple: It’s provider helping provider, and in the opinion of past Summit attendees, it doesn’t get any better than that.
Moderators:
Mike Moran, HME News Executive Editor
Rick Rector, HME News Publisher
Don Clayback, The MED Group
11:30am - 12:45pm
A Suitcase of Ideas
Three Perspectives on Creating “Strong, Sustainable Growth”
What does an $80 million dollar independent HME provider (Landauer Metropolitan) have in common with a $5 million provider (Cape Medical Supply) and a $13 million provider (Premier Medical)? They all want the same thing you want: “strong, sustainable growth.” The question is: What strategies have they used—or are they using—to achieve that goal? How are these companies alike and/or different in their quest to become more efficient and profitable? What can they learn from each other? You’ll find out when four top executives sit down and talk shop. Rest assured: Whatever the size of your company, these executives will send you home with a suitcase full of ideas.
Moderator: Don Clayback, The MED Group
Panelists:
Gary Sheehan, president/CEO, Cape Medical Supply
Jeff Knight, CEO, Premier HomeCare
Lou Rocco, CEO, Landauer Metropolitan
Joe Luceri, CFO, Landauer Metropolitan
2:00pm - 2:45pm
Creative Ingenuity
Economies of Scale Matter, but Not as Much as You Think
Wallace Weeks lets attendees in on a little secret: You can be a relatively small HME company—under $5 million—and still use some of the same business strategies and tools often considered available only to much larger companies. Economies of scale matter, sure, but not as much as you might think. Wallace uses examples from “Strong, Sustainable Growth” to demonstrate how the average HME company, by exercising a little creativity and ingenuity, can employ some of the same business practices, strategies and tools used regularly by much larger companies. In some instances, little or no investment is required. All a company has to do is “deem it relevant.”
Presenter: Wallace Weeks, president, The Weeks Group
3:00pm - 3:45pm
Street Talk Workshop
Provider helping provider: It doesn’t get any better than that
Part 2: Cutting costs
4:00pm - 5:00pm
The Cutting Edge
Online Social Networking: It’s Coming to the Chronically Ill and Disabled Near You!
In the next few years, millions of HME customers will start using online social networking sites like Facebook, LinkedIn, Caring Bridge and CareFlash to connect with friends, family, caregivers and others who share their condition. When this many customers gather in a single place, the potential business opportunities are tremendous. Until now, these virtual communities have been the domain of tech-savvy young people, but they are also a perfect fit for the chronically ill and disabled populations. In this session, VGM CFO Mike Mallaro teaches you more about these virtual communities and discusses ways to integrate them into your business.
Presenter: Mike Mallaro, CFO, The VGM Group
Tuesday, April 21st, 2009
8:00am - 9:00am
Head Off Trouble
Learn from the Mistakes of Others
During her years as a turnaround expert, Karen Moore has seen it all. In
this session, she’ll use case studies and draw on her experience to
demonstrate how companies get into trouble, and, most importantly, how they escape it. Discover how she uses key financial benchmarks (cash-to-revenue ratio, bad debt, DSO, revenue per employee and gross margins) to improve performance. You’ll also hear one of her clients, HME provider Tom Voorhees, talk about what he’s done in the past to ensure his businesses stayed on track during periods of rapid growth. Learn from the mistakes of others and head off trouble before it strikes your business.
Presenters:
Karen Moore, vice president, AnCor Healthcare Consulting
Tom Voorhees, president, The PromptCare Companies, Inc.
9:30am – 10:15am
By the Numbers
Use Financial Statements to Drive Your Business Forward
When it comes to carrying out a strategic plan, count your company’s financial statements (P&L, balance sheet and cash flow) among your best friends. They track key performance indicators and measure progress toward your ultimate goal, whether that’s taking home a $100,000 salary, building a $5 million company in five years or generating a 30% gross profit. Unfortunately, HME providers—even those who work closely with accountants—often just scratch the surface of what their financial statements have to offer. That will no longer be the case after spending time with CPA and long-time business strategist Don Davis. You’ll leave this session with a simple, by-the-numbers approach to improving your company.
Presenter: Don Davis, president Duckridge Advisors
10:30am – 11:15am
PEOs and YOU
Increase Employee Benefits, Reduce Your Costs.
How would you like to reduce your company's healthcare premiums by 40% and increase your employee benefits package? That's what Joe Sansone did when he outsourced his benefit packages and some HR functions to a professional employer organization (PEO). Joe considers his move to a PEO instrumental to his DME companies' success, which includes being named among the best places to work in Texas for 2008. According to Joe, a PEO enables a small business to: 1. Reduce the cost of healthcare and other benefits; 2. Outsource time-consuming non-revenue producing duties; 3. Offer a benefits package that rivals those offered by larger companies; 4. Gain expert advice “free of charge” for any HR issue you may face. Talk about having your cake and eating it, too. In this session, Joe explains why he believes “most business owners could benefit from PEOs.”
Presenter: Joe Sansone, CEO, TMC Orthopedic and the Amputee and Prosthetic Center
11:30am – 12:30pm
Seize the Day
Tools, Strategies and Ideas for Success
Thanks to the motivational magic of Mike Sperduti, you’ll leave this session and the HME News Business Summit ready to tackle the world. As CEO of Emerge Sales, Inc., Sperduti has helped small, medium and large companies do what needs to be done to survive and thrive during challenging times. Sperduti learned these lessons firsthand. Years ago, he retooled Mediq ACS (“people said it couldn't be done”), drove it to a 20-year profitability high and then helped sell the company to Invacare. In this program, which promises to be fun and informative, Sperduti provides the philosophies, tools, strategies and ideas to help transform your company and spur you to take immediate action.
Presenter: Michael L. Sperduti, CEO, Emerge Sales, Inc.
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