Today DME/HME is looking at a new industry. What you did yesterday may no longer be applicable anymore. Reimbursements for services provided by CMS and Medicare are greatly reduced and they want to chop them down even further. Very often, the profits are so small that it becomes ludicrous. They are opening new “territories” via the “Competitive Bid” and many more dealers may be forced out of business.
But you are not ALL ALONE! DME/HME will continue to flourish, and you will always stay in business, solvent, and growing. You will become a marketer. You will take the role of a leader, and your company will be at the forefront of change.
Look around! Are the automobiles being sold the same way they were 10 or 15 years ago? Basically they are, but the manufacturers are offering them very differently. Price has always been a factor for any product but never has that stopped someone from purchasing the vehicle they like and want.
The grocery super-markets address this problem in an interesting fashion. Buy one – get one (BO-GO)! This is really new, with a history of perhaps only five or six years. Now they want you to purchase two of something when you only needed one. I approve of this because it makes you think about how, why, or where to shop.
Special sales running from or similar hours are also effective. These attract shoppers and give the impression they are giving away the store - they aren’t! They want you to come to their showroom. I spoke with a manager at one of the local department stores and he told me that for every “bargain” item purchased, two or more other items were also sold.
Don’t stand all alone. Work with your vendors and prepare better and bigger promotions. Look for new items that will fit your company, as we have been saying - OTC CASH SALES. Become the leader in your community and become the BEST marketer possible.