Being Binson's

For 54 years, Binson's Home Health Care Centers has been a staple of the Michigan home medical equipment community. But that doesn't mean it's stayed the same.

Indeed, says Ken Fasse, executive vice president and COO, “Our basic philosophy has been that if you are not growing, you are probably dying.”

Binson's is not dying. And in an industry beset by all manner of threats — competitive bidding, shrinking reimbursement and tightening red tape, to name but a few — it is not even embattled.

The reason? It appears to be a trio of strengths: diversification, reputation/longevity and being proactive when it comes to market changes. Like all HME companies, large or small, Binson's has felt the effects of declining product markets, competition from nationals and crippling legislative and regulatory mandates. But over the years, the company has discovered that some legendary adages are true.

“Don't put all your eggs in one basket”

From day one, Binson's was diversified. When pharmacist George Binson took over a drug store in 1953 in Center Line, Mich., population 10,000, it had a retail pharmacy and a soda fountain.

“Then, with the dawn of the beginning of the [HME] industry, we began to provide basic [durable medical equipment],” says Fasse.

The soda fountain gave way to canes, walkers and hospital beds. That was the beginning of Binson's retail HME segment, a division that has grown and prospered over the years. The company has expanded beyond basic HME to carry a full complement of products, including rehab, mastectomy, orthotics and diabetic supplies.

“We have 26 locations, and they are all retail-based,” says Fasse, noting that pharmacies are in only two of the locations. “That is one of the mantras, that all of our operations have a retail showroom and they are pretty dedicated to the retail side of the business.”

Each location has a “deep inventory” of products, according to Fasse, and the showrooms range from about 2,500 square feet to a formidable 16,000 square feet in the Southgate location. “We have a very large showroom in Center Line,” Fasse adds, noting that the main facility totals 64,000 square feet. “It's got every product line available, slat walls, carpets, it's set up very nicely. That's kind of the hub of the whole operation.”