Successful hospices are looking to save money wherever possible while ensuring high quality of patient care. Due to reduced revenues coupled with rising operating costs, the industry is facing margin compression. One area of significant expenses for hospices is Durable Medical Equipment (DME); as such, it is often targeted for expense reduction with the goal maximizing the value on each dollar spent. To achieve this goal, successful hospices approach DME management with the short-term priority of lowering expenses, coupled with the intermediate and long-term goal of utilizing DME in a manner that provides increased value going-forward – all while maintaining high-quality patient care. This tandem approach works. Here is how to accomplish it.
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