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Digg it UP - Show Me the Money: an MRO Inventory Analysis
The endless road that is medical billing and trying to make heads or tails of CMNs, is enough to drive even the most sane of us totally out of our minds. It seems that there is a CMN for every possible item. Some CMNs are fairly simple to understand and then there are those, like the DMEPOS CMN, or as is known in electronic billing circles as the GU0 record, that are about as convoluted and confusing as they come. This is now our tenth installment on the GU0 record with no end in site. It's no wonder medical billers are frustrated. We pick up our review of the GU0 record with field number 62.GU0 field 62, positions 266 - 269, is Reply NUM L04 N01. This field is the reply to the first question on any DMERC certification requiring a four position numeric res
Any business can benefit from the internet; they just have to know how. There are several things a business can to that are free to promote themselves and generate more cash. If you are just starting out online the learning curve can be staggering, but with a little know how you can beat the odds and promote your business to the topIf you are new to online marketing and do not have a website there are plenty of reputable places online who can help you build a website or point you in the right direction. I would recommend searching for free ebooks. You can find all you need to know about creating an online empire in free online ebooks. Don’t waste your money on things that you don’t know for sure are going to be exactly what you need. The more time you spen
Historically, no one ever really ‘owned’ inventory, so stocking another item “just in case” had very few, if any repercussions. Inventory was often seen as a necessary evil of doing business. The term Inventory Management was almost an oxymoron. There were few procedures for setting up an item, no standard structure or format. Item information was written in the manner of each individual….first onto cards, which were later transcribed into a computer system. More often than not, there were no stock review processes. The only ‘management’ of inventory came with its annual physical count undertaken for financial reporting purposes.
Typically over time, Stores inventory grew… and grew… and grew… to the point where the numbers were just too big to ignore. That’s when inventory gets the attention of management: when the numbers are just too large to ignore any longer. Af
Business competition has increased greatly in recent times. As a result, a need is felt to improve methods of marketing and proper research in order to increase business productivity. In order to put forward a better image in the consumer market, small firms, business houses and large multinational conglomerates have started adopting new marketing strategies. Small marketing methods like personal selling and demo presentations, to large high budget advertising campaigns have influenced marketing procedures all over the world. An effective way of marketing products and services is through the use of kiosks. A kiosk are small booth like structures in mall hallways or between the common areas of shopping centers and malls that market goods and services generally on the be
Historically, no one ever really ‘owned’ inventory, so stocking another item “just in case” had very few, if any repercussions. Inventory was often seen as a necessary evil of doing business. The term Inventory Management was almost an oxymoron. There were few procedures for setting up an item, no standard structure or format. Item information was written in the manner of each individual….first onto cards, which were later transcribed into a computer system. More often than not, there were no stock review processes. The only ‘management’ of inventory came with its annual physical count undertaken for financial reporting purposes.
Typically over time, Stores inventory grew… and grew… and grew… to the point where the numbers were just too big to ignore. That’s when inventory gets the attention of management: when the numbers are just too large to ignore any longer. A
Whether you are moving your office to a new location, larger or smaller, or you are simply looking for a way to maximize your current space, you will likely need to purchase new office cubicles and systems furniture. You may not be aware that there are many ways that you can save money when purchasing new office cubicle components and managing their layout, while at the same time maintaining employee satisfaction and increasing workplace efficiency.Turn Hard Wall Offices into Office CubiclesFirst of all, there is a misconception that if you are coming out of a hard wall office into a space in which you will use office cubicles, you will need to establish the new workspaces to be exactly the same size as those previously being used. This is simply n
Typically over time, Stores inventory grew… and grew… and grew… to the point where the numbers were just too big to ignore. That’s when inventory gets the attention of management: when the numbers are just too large to ignore any longer. A
It is inevitable. It happens every year. Hiding from it or ignoring it won’t make it go away. The dreaded company audit; there is no way around it, so companies must do their best to comply with the current standards. And to be able to prove that they are meeting those standards. The compliance regulations companies must strive to meet are HIPAA for the medical field and Sarbanes-Oxley regarding any company’s financial records.There are records management systems today that make the auditing process simple and painless. Each time there is activity within the records management system, the event is recorded to a log file. For example, when a medical record is updated by a doctor, the event is recorded, dated, and saved for future confirmation. If a compa
Typically over time, Stores inventory grew… and grew… and grew… to the point where the numbers were just too big to ignore. That’s when inventory gets the attention of management: when the numbers are just too large to ignore any longer. A
One of the strategies I teach to PULL your business forward, almost effortlessly, is to create a powerful vision for your business. My private clients have found this exercise to be both motivating and inspiring, and I'm certain you will too.Once a year, I take a short retreat to work on revising my vision for my business (and my life). This is an annual break I take away from my business (but with my family, although some of my clients prefer to go it alone, which is perfectly fine) to really think about and decide what I want the next 1 to 3 years to look like. I write my vision and I create a whole bunch of goals for my business. I also use this time to talk with my husband about my vision and goals. He is a great sounding board for all the ideas I come up wi
The ironic thing is that maintenance workers do not often have much confidence in Stores inventory. They do not trust that parts are really there in the quantities stated, or that they are still usable. They might even keep a private cache of parts hidden somewhere for their own use. Or they might by-pass Stores altogether and just order the part directly from the supplier. These scenarios are real and they add further to costs.
When a formal inventory review is undertaken, we often find that unfortunately, many item descriptions are inadequate, with spelling errors or missing manufacturer names and/or part numbers. Often the part descriptions are unrecognizable by a tradesperson.
Before any inventory analysis can take place, inventory item description data must first be cleansed. Any sort
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