For more years than I wish to count, CMS has been busy—working hard to decrease their funding of DME products. The results of these cuts have driven equipment providers to focus on items that do not require insurance billing. I’m talking Cash! … Good ole’ American greenbacks! … Moolah! Some companies without a showroom have added one to encourage walk-in traffic, while others have redone theirs to be more appealing to cash buyers.
You don’t need to be a brain surgeon to see that, as reimbursements are being chipped away, your bottom line is getting harder to maintain. Many of you feel that increasing cash sales will be your saving grace from this competitive bidding / insurance reimbursement mess.
Below are a few ideas I’m throwing out for your consideration. If you are serious about increasing your cash sales, you need to roll up your sleeves and make the commitment!
1. Saturate the market
I frequently hear radio commercials advertising scooters and lift chairs from one of our local DMEs. This company has been advertising for several years. Their competitors do not advertise in any media market and this DME is eating their lunch when it comes to scooter and lift chair sales.
To be successful in advertising, you need to saturate the market in the beginning. After the first month, reduce your ad frequency by 1/3, and another 1/3 after the third month. By month 4, you should be able to run your ad a few times a week, but the public will feel that they hear your ads all the time.
2. Train your showroom staff to cross-sell
Most items you carry can be associated with other products. Your staff should be trained on which items work together, along with a strategy on how to present those items to the customer.
3. Greet and welcome each customer
If the customer is unsure about making a purchase, your staff should give them a card with contact information. They should also thank the customer for stopping in and offer future assistance if needed.
4. Send regular emails to your current customers
Or place a notice in their monthly billing statements. Actively promote that you are holding a free seminar on bathroom safety, CPAP, Asthma… you pick the topic. If you have an active medical director, maybe he or she could conduct the seminar. Attendance is always improved when a professional is speaking. Market and promote your products that relate to the seminar topic.
5. Let Applied help you increase your cash sales
Sign up today for the OxyCare TOTAL Advantage™ program. It only takes a few minutes and there is no cost to you. Here’s how it works …
A customer comes into your store wanting to purchase an OxyGo FIT™ and lift chair, but they really don’t have the funds to make it happen. After an easy application and approval process, OxyCare secures financing for the patient and payment for you. They walk you through the entire process—from patient application and contract through approval. And you typically receive payment in one business day!
Your customer leaves happy, with items they would otherwise not have been able to purchase… and your company becomes a hero for meeting their needs. It’s a WIN-WIN! This new, FREE program has been proven to increase provider cash sales by at least 20-30%!
Don’t let customers walk out the door simply because they can’t afford the items they need. Enroll in the OxyCare TOTAL Advantage Program today by calling 866-235-0057. You have absolutely nothing to lose—and everything to gain!