Fred Smith, the founder of FedEx was an undergraduate at Yale University in 1965. As an assignment, he wrote an economics paper exploring the process of transportation of goods in the United States. He found that the shippers relied on transporting large packages across the United States by means of truck or passenger airplanes. Smith thought of a more efficient transportation idea. He wrote a last minute paper on how a company carrying small, essential items by plane could be a much better business. He did not go into details however about how to actually run such a company. His paper was graded “C”. But Smith did not give up on the idea and launched the FedEx Company in 1971.
Fred was insistent that there was a more efficient business process that was being missed. While my previous blogs covered the advantages of outsourcing your billing, Fred's story hits to the heart of why billing through NEMO Health is different than using most other billing companies. Similarly, the differentiation lies in the "efficient transportation" of information.
Unlike other billing companies, NEMO Health eliminates the time and expense of transporting information back-and-forth. Our experienced podiatric billers work right through your own TRAKnet database to provide you with comprehensive revenue cycle management. This same level of efficiency also applies to our team of podiatric consultants who monitor your data and guide you in practice improvement strategies as part of our value. No other billing company can make that claim!
Smith was so confident that his efficiency concept was powerful and differentiating that with his last $5000, he flew to Las Vegas one weekend and played Black Jack. On Monday, the management of the company had a pleasant surprise lined up. FedEx had $32,000 in its bank account, which was just enough to cover the fuel for their plane and to continue operating a few days more. Soon after, the company was able to raise significant amounts in funding. Today FedEx is a global giant with operations in more than 220 countries and territories and an annual revenue of US $45 billion.
While Fred Smith was so confident that there was a more efficient way to transport goods, unlike Fred, you don't have to rely on the risky gamble of a Black Jack hand. Outsourcing your billing to NEMO Health is a sure bet!
If you would like a FREE Cost/ Benefit Analysis performed on your billing process,
please email me at John@nemocp.com