If you want to learn how to do retail, go to Wal-Mart. No, don’t laugh. It’s good advice for home medical equipment providers, industry players say. The giant retailer has perfected the art of displaying, marketing and moving its wares, and a trip down its wide aisles can reveal much about successful retailing. In an environment that hasn’t looked kindly on the HME provider for some years, successful retailing could make the difference in whether your bottom line is black or red. Indeed, a successful retail operation can jump start your cash flow and reduce your dependency on third-party payers, according to industry consultants who, along with HME retailers, shared with HomeCare insights into how to beef up retail sales. “If you want to learn…

For home medical equipment providers interested in starting or expanding a beds and support surfaces business, there’s good news. The market is strong and growing, and well worth the investment, according to industry experts. At the same time, providers should not enter the beds and support surfaces market lightly. Experts caution providers to be prepared to do their homework — on the products, on strategic marketing and on the customers. Fiscal Growth… According to a 2001 report from market research firm Frost & Sullivan, the market for specialty beds and support surfaces for wound care will increase almost threefold by 2008, from $935.5 million in 2001 to $2.09 billion in 2008. Beds and support surfaces manufacturers are well aware of these numbers. Experts point to…

Ask a question of three home care providers and you will receive three different responses. At a least, that was the case when HomeCare queried Jim Binson, chief executive officer of Binson’s Home Health Care in Center Line Mich.; Todd Christopher, chairman and chief executive officer of Home Care Supply in Beaumont, Texas; and Joel Mills, president of Advanced Home Care in High Point, N.C., about their 2003 forecasts for the industry. HomeCare: How would you characterize the upcoming year for the HME industry? Jim Binson: Challenging and rough. A shaky economy, reduced reimbursement from state and federal programs, HIPAA, compliance [issues], lack of manufacturer support, competitive bidding, specialty providers, Wal-Mart and Walgreens entering our industry — all of these are equally challenging. Todd Christopher:…

The only thing permanent about life is change. Most would agree that this proverb applies to the home medical equipment industry, too. Granted, the industry has experienced many challenges during the past 10 to 12 years: acquisition mania, “superstore threats,” and concerns revolving around mass retailers, “direct” manufacturers, managed care, accreditation, oxygen reimbursement cuts and more. Nevertheless, one constant remains: the importance of the local, full-service HME provider. Whether the provider operates independently, as part of a buying group, or as a national account location, an autonomous, local, full-service, experienced and caring HME, mobility or rehab provider still is what best serves people in need of our products, and I fully expect this will continue to be true. There is a saying, “All politics is…

This year will be a challenging, but opportunity-filled year for the home medical equipment industry — let’s call it a “no-pain, no-gain” environment. The Internet will continue to affect the evolution of HME software into an essential component of the HME business profitability and productivity equation. Speed, security, affordability, redundancy, improved work flow and real-time access to information — all of these are the benefits of Internet-based HME software products and services. The biggest HME software innovations in 2003 will revolve around continued early adoption of Internet-based applications by forward-thinking HME organizations. As more businesses adopt HME software packages, they will become as de rigueur as computers, cell phones and DVD players are to the general population. Of course, there will be challenges to overcome…