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| Providing Web-Enabled Software to Managed Care and Medical Supply Companies. |
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Frequently Asked Questions
Q: What do Source's products do?
A: Source's products save money, increase sales, increase margins, and create profits. Source designs websites and software functions to go with them. The software is designed to replace cumbersome telephone and fax transactions with cheaper, quicker, more efficient online transactions.
Q: What can be improved with the way transactions are done now?
A: In a managed care environment, medical supply transactions have become cumbersome, involving several organizations and a complex flow of information. If a patient needs a simple product, a physician must produce a prescription, which has to be transmitted to the payer and the vendor. The vendor must approach the payer for an authorization. The vendor must acquire a prescription. Faxes are lost. Calls are missed. Valuable employee time is wasted backtracking, searching for documents, waiting on hold, answering calls from frustrated patients and physician offices.
Q: How does this affect present transaction costs?
A: According to an industry association study, the average transaction cost for medical supply companies are as follows: initial set-up of new patient $24.00: repeat order for existing patient $12.00. In short, at times the cost of the transaction is higher than the cost of the product. In low margin environments, these transaction costs can be ruinous.
Q: How do Source products bring down transaction costs?
A: By putting as much of a transaction as possible online, the costs associated with repeated telephone calls and fax attempts, lost documents and data-entry errors, can be eliminated.
Q: Can an entire transaction be done online?
A: This will be possible soon. Electronic signatures are not yet recognized for prescriptions. However, most of a transaction can now be done online using Source products, and remaining support documents can be transmitted by fax or mail. Even then, the back tracking, searching, and delays associated with pure phone and fax transactions are significantly reduced.
Q: How much do Source products cost?
A: Source pricing is tailored to each client. In general, we strive for the lowest possible up-front costs combined with reasonable, performance-based monthly fees depending on the structure of your business.
Q: With already high transaction costs, why would a company want to pay the fees associated with Source software products?
A: Online transactions lower costs so dramatically that the fees account for only a small percentage of what a company saves. Every time a client pays Source a fee, they save money. And because Source products will increase sales, clients not only save money, but make it.
Q: What are my competitors doing?
A: This is the way transactions will be done in the healthcare industry. Larger companies are now investing in online programming. Those companies that do not plan for the future will find themselves offering inferior products. Source's pricing saves money for large companies, but makes it possible for small and medium sized firms to compete.
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