Imagine if you were able to reduce the inventory sitting in your warehouse and have vendors like McKesson, VGM, and Medline drop-ship many of your items. This would undoubtedly increase your efficiency and decrease your inventory overhead. Your margins would immediately increase.
The good news is that this functionality is completely possible. Bonafide’s Enterprise Resource Platform (ERP) is integrated with more than 20 vendors. Here’s how it works:
Our competitor Brightree promises vendor drop-shipping functionality, but it is not nearly as comprehensive, and sometimes adds complexity and therefore cost to the process. Only Bonafide offers automatic order tracking and delivery confirmation. Brightree requires double-entry and manual processes where we offer automated workflow.
Additionally, Brightree charges significant additional fees for its drop-ship functionality. At Bonafide, we pride ourselves on providing every single customer with a comprehensive solution without any hidden fees or surprises. We also are willing to add vendors to our system at no charge to you. Because that’s just good business.
|Double data entry||None||Significant|
By Bruce Gehring, Allegiance Group
Are you struggling trying to collect your private pay balances?
If so, you are not alone. Outstanding private pay balances can create problems for business small and large. Your staff gets too busy to mail statements or make collection calls. And in the back of your mind you know the longer a balance goes unpaid, the harder it will be to collect. Where can you turn for help?
Consider using a billing and collection partner. They can help you get your statements mailed on time and can generate several touches to remind your client of their outstanding private pay balance which results in you collecting more cash faster using fewer resources from your office.
Here are the five areas you should consider when selecting a partner:
You will want an industry leader, so make certain the company is experienced in collecting outstanding balances in the HME/DME industry and can show results.
The growth of your business depends on repeat customers. Any partner is an extension of your reputation, so make certain your clients will be treated with respect.
The biggest tools that billing and collection companies use to reach out to your clients are invoices and phone calls. Ask for a copy of their invoice and phone scripts. As you review them, ask yourself the following questions:
Note: The company’s timeline should be flexible to meet the needs of your business.
Integrations streamline the flow of data so your client services team will have current information to better serve your patient.
When you compare costs, here’s what to expect:
Take the time to check the company’s references. The comments will probably be positive, but you can still find out how a vendor will work with you by asking the right questions:
Why take the time to go through this process?
Here are a few of the benefits of hiring a billing and collections partner:
If you have any questions how a billing or collections partner can help your business, please contact Bruce Gehring at firstname.lastname@example.org or 913-338-4790 x202.