Everyone has heard that technology helps to create a more effective and lucrative business, but what technology is best for providers and what exactly can technology do for a company? Dealer/Provider spoke with Spencer A. Kay, president and CEO of Fastrack Healthcare Systems Inc, Plainview, NY, about how technology can impact an HME business.

Dealer/Provider: How can technology level the playing field and allow small providers to compete with larger ones?

Kay: The implementation of the “right” technology by its very nature can level the playing field and help small providers effectively compete and grow their business. Remember, not too long ago, companies like Jet Blue, Dell, and Federal Express were all small. Their innovative use of technology allowed them to compete and rapidly expand. The same can be true for providers as evidenced by the success of so many Fastrack clients. Fastrack has seen our clients realize a competitive advantage from our technology solutions, including sophisticated order and billing audit functions, document imaging, sending and receiving faxes from within the Fastrack application, business intelligence tools, bar coding, PDA devices, etc, that are integrated into the Fastrack Enterprise System for Windows/SQL™. This includes software and hardware tools that some of the national players are presently using, plus the advantage of certain state of the art innovations not being used by the nationals that Fastrack provides. Today’s technology will reduce costs, improve productivity, and assist in improving customer service and staff morale.

DP: How can technology help providers better position themselves for competitive bidding?

Kay: A key in winning under competitive bidding will require the ability to better analyze data to make the best decisions. Using a business intelligence or data mining tool is a technology that can aid in “drilling down” on data to better understand key issues, including profitability, as it relates to the products and services you offer.

DP: What kind of technology would you recommend every provider implement?

Kay: Fastrack recommends the use of a true Windows-based system utilizing a Microsoft SQL database for the productivity benefits of this environment, to ensure full access to data and for ease of connectivity to third-party systems. In addition, there are several technologies that will help automate your business, including map-based routing of trucks that will reduce the costs of deliveries and allow customer service to provide the patient with an approximate delivery time, as well as being able to locate a driver in an emergency. There are also cellular PDA devices with bar-code reader attachments to automatically confirm deliveries in the field, wireless PDAs to automate order fulfillment, physical inventory and receiving in the warehouse, point of care devices such as a notebook or tablet PC that allow clinicians to access and capture data at the patient’s bedside and eliminate redundant entry of data back in the office, a “dashboard” to provide an at-a-glance view of the health of your business, and business intelligence and enterprise-wide reporting.

DP: What does technology hold for the future?

Kay: Technology will continue to improve productivity and allow providers to do more with less people. This will improve the bottom line and truly level the playing field. The price of technology will continue to fall so that it is no longer a barrier for a smaller player to compete. DP