Features
HME At Your Service
Friends and other providers frequently ask me about “the future of our industry” as if I were some kind of soothsayer with a crystal ball. The fact of the matter is, when asked this question, my thoughts always turn to two things: demographics and consumer opinion.
Americans are getting older. I know that because my beard is gray, my sons are both over 30 years old and my grandson will soon celebrate his second birthday. These personal indicators are supported by irrefutable statistics. Within 30 years, for example, the number of people paying into Social Security will be lower than the number of people receiving Social Security benefits. The leading edge of the baby boomer generation becomes eligible for Social Security and Medicare by the end of this year. And, the average lifespan in America grows two to three months longer every year.
In addition to an aging society is the fact that modern medicine now enables people to live longer, although many will be dependent on some form of home care and home medical equipment for several years. Further, technology is entering the world at a dizzying pace, and much of this technology is enabling people with chronic illness and disability to be more active and more productive. Consumer demand for HME products is on the increase, and there is no end in sight to this growth.
While many traditional HME providers bemoan the fact that television advertising and Internet sales are taking away some customers, this kind of marketing is also increasing consumer awareness of what products are available. Many people are not comfortable calling an 800-number, and they are even more unwilling to conduct business over the Internet. This bodes well for the traditional provider who can give consumers the kind of personal touch and hands-on experience they need to make a purchasing decision.
I am sure that a lot of people will want to argue with me on this point, but I believe television advertising and Internet sales are increasing demand for HME. Much of that increased demand ends up in the traditional provider's store.
