Cost Climate: What's the Impact on Complex Rehab?

Published in Complex Rehab on October 06, 2023

Cost Climate: What's the Impact on Complex Rehab? This post was originally featured in HME News.

U.S. Rehab and NCART have teamed up on a new survey to assess the impact of today’s radically changed business climate on the financial health of complex rehab technology companies. 

The survey, conducted by Christy Ryken and her Strategic Marketing Services team at the University of Northern Iowa, seeks to gauge the impact of inflation and supply chain disruptions, as well as increased wages and shipping costs, says Wayne Grau executive director of NCART. 

“What we’re trying to demonstrate is the cost structure of this business model,” he said. “It’s a lot of services, at a high level, and we want to take care of customers, but a lot has changed, and we may be forced to make some decisions that will have an impact on that, such as limit service areas.” 

The survey, open through the end of September, collects data on the cost of everything from labor to repairs to compliance to purchasing. 

Data from the survey, when combined with data from other industry tools like U.S. Rehab’s Functional Mobility Assessment, which measures outcomes, will better position CRT companies from a regulatory and reimbursement perspective, says Greg Packer, president of U.S. Rehab, a division of VGM & Associates. 

“We believe that with some of the actual outcomes data we have, we can show CRT as a cost saver, not a cost driver – that is, if it’s utilized properly and reimbursed properly,” he said. “It can save in the long run.” 

The industry was overdue to conduct such a survey, Grau and Packer both say, with previous studies done back in 2017 by the Saunders College of Business at the Rochester Institute of Technology and in 2008 by the Simon Business School at the University of Rochester. 

“Any major analytical data that we have is old,” Packer said, “so what we’re trying to do is get an accurate picture in time of how these companies are faring with these pressures and staying in business.” 


TAGS

  1. complex rehab
  2. data

From Our Experts

Embracing Change: Our Journey Toward Diversity, Equity, and Inclusion thumbnail Embracing Change: Our Journey Toward Diversity, Equity, and Inclusion Diverse, equitable, and inclusive companies are better able to respond to challenges, attract top talent, and meet the needs of different customer bases. Soft vs. Hard Skills for Today thumbnail Soft vs. Hard Skills for Today No matter how they were looked at in the past, having people with good soft skills has always been as important to your profit as understanding your billing system. Unlocking the Future: Recruiting and Retaining the Next Generation of Talent thumbnail Unlocking the Future: Recruiting and Retaining the Next Generation of Talent Recruiting and retaining a younger generation of employees is a critical challenge for organizations seeking to stay competitive and innovative in today's rapidly evolving business landscape. Preventing Pressure Injuries: Your Guide to Pressure Injury Prevention Month thumbnail Preventing Pressure Injuries: Your Guide to Pressure Injury Prevention Month November is a significant month for healthcare professionals and caregivers around the world as it marks Pressure Injury Prevention Month, particularly on 2023 Worldwide Pressure Injury Prevention Day (November 16). Nurturing a Resilient Organizational Culture for Remote and Diverse Teams thumbnail Nurturing a Resilient Organizational Culture for Remote and Diverse Teams As business leaders, cultivating a strong and vibrant organizational culture across remote and diverse teams is essential for driving success and employee engagement. Revolutionizing Mobility: Dr. Pooja Viswanathan, Tyler Mahncke, and Reliable Medical Supply on the Future of Smart Wheelchair Technology thumbnail Revolutionizing Mobility: Dr. Pooja Viswanathan, Tyler Mahncke, and Reliable Medical Supply on the Future of Smart Wheelchair Technology In today's episode, Tyler Mahncke, V.P of U.S. Rehab, sits down with one of the top complex rehab technology providers in the U.S., along with Dr. Viswanathan, Founder and CEO of Braze, as they share stories about the success of this growing smart technology for power and manual wheelchairs. U.S. Rehab Announces Retirement of Greg Packer thumbnail U.S. Rehab Announces Retirement of Greg Packer Greg Packer of U.S. Rehab has announced his retirement as president, effective at the end of 2023. From Dreams to Life-Changing Beds: Tyler Mahncke, V.P of U.S. Rehab Chats with the CEO of Cubby Beds thumbnail From Dreams to Life-Changing Beds: Tyler Mahncke, V.P of U.S. Rehab Chats with the CEO of Cubby Beds In today's episode, Tyler Mahncke, V.P of U.S. Rehab, sits down with Caleb Polley, the CEO of Cubby Beds, one of the most innovative and fastest growing companies in CRT, as they share stories about the success of their life-changing bed solution for children with special needs.