Issue link: http://read.dmtmag.com/i/59015
HME NEWS / APRIL 2012 / WWW.HMENEWS.COM FINANCE Hire an accountant to make money BY TOM SHAY Q. How can I be sure to hire the right accountant? A. The accountant has two jobs: MARKETING Put your information out there BY ANNA MCDEVITT Q. Are online resources effective marketing tools for providers? A. We often incorrectly assume that the HME target audience isn't online; however, as the Internet becomes less of a novelty and more of an everyday tool, it's no sur- prise that our aging population is becoming tech savvy. The Internet is becoming an important decision- making tool as well. The bottom line is this: Patients (and referral sources) can't learn more about your company online if you haven't put any informa- tion there to find. Every pro- vider should have a website that includes basic information, including company name and logo; the services/products you provide; location; and contact information. The best way to start is by putting yourself in the patient's shoes. What informa- tion would you want to find when "Googling" a provider for yourself or a loved one? Beyond a website, there are a variety of online marketing resources available to providers, many of which are budget friendly. Some providers have started to use Facebook business pages to upload photos of staff, allowing patients and referrals to "put a face to the name" and feel more connected to their healthcare partners. Oth- ers have made strong connections through email marketing. Low cost services (like Constant Contact or Mail Chimp) enable providers to create professional looking emails, which are great for patient educa- tion, event and sale promotions, newsletters and more. Company blogs are also effective to improve lead generation. According to a 2012 study, 57% of companies have acquired a customer though their blog and 81% of businesses report- ed their company blog as "useful to critical" for their business. HME Anna McDevitt is president of Laboratory Marketing. She can be reached at anna@laboratory-marketing.com or 248-227-6930. helping you pay as little as legally possible and pushing the tax liabil- ity into the future as far as possible. Having explained the job, selecting the accountant should be a lot like hiring an employee. You want to ask questions to learn about the accountant's prac- tice. The accountant can ask ques- tions about your business if you hire them. Some sample questions are: 4 Are there other DME busi- nesses you perform accounting duties for? If the accountant does not do the books for other DME businesses, how would this one know how to compare your expe- riences with another? 4 How many other small busi- nesses do you perform accounting duties for? This is a fall back ques- tion. If you do not get the answer you want to the first question, at least you want an accountant that has the experience of working with Smart Talk a business owner who is wearing many hats. 4 How will you help me make money? An accountant once said if his annual fees were $6,000, his job was to show how to save $6,000 or make $6,000 or a combination of the two so that the accountant was a source of income instead of an expense. You are looking for an accountant with the same idea. 4 To change to this accountant, how many years of the business 17 history does he need to review? Experience has been that some accountants want you to spend thousands of dollars for them to review, and possibly restate your financials. This idea has never made sense as I have not seen a situation where the review resulted in getting money back. HME Tom Shay is principal of Profits Plus Solutions. Reach him at tomshay@ profitsplus.org or 727-464-2182. MEDTRADE BOOTH 1824