Thursday, April 3, 2014

Year 2013

What happened in 2013? A recent poll in HMENews indicated that last year was worse than expected! 58% of the respondents reported a decrease of revenue of 10% or more. However, 63% believe that in 2014 net revenues will remain steady and INCREASE!

Well, this certainly isn’t a bed of roses, but I feel that our industry did NOT take as bad a fall as anticipated!

After attending Medtrade Spring in Las Vegas a few weeks ago, I returned home feeling very optimistic about the future of DME/HME. The attendees all seemed to be on a mission to find new OTC cash sale products. They filled the lecture rooms and listened to the speakers making suggestions on how to develop new sources of income. It was just reported that US demand for home medical equipment is forecasted to grow 8.2 percent annually, to $12.6 billion in 2018.

Yes, 2014 has the potential to be a super year for DME/HME providers; but like anything else worth doing, there is a great deal that has to be done in order to make it become a reality!

New legislation, some pending, must be passed. CMS has to be sure that prompt reimbursement is made when properly invoiced. Perhaps a licensure program must be established for DME as there is for other health care providers?

To be sure that 2014 will be the year that will see DME/HME recognized for their service, one small step has to be made. Every dealer or provider has to become a dues paying member of AAHomecare and their state DME association.

We have no choice. Tempus Fugit and when we band together, work together, become politically activated, and bring our clientele into the picture, 2014 will be the banner year we seek. I have received messages from several readers who feel the upturn has already begun.

Get on board, and let us make 2014 the year that we join forces and make a change from storekeepers to professionals. We must earn the same respect of pharmacists, physicians, nurses, and therapists. 2014 will be the year this all happens.

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