All About Solutions

Of the 308 million or so people in the United States, more than 72 million are now 55 or older. Census figures predict that by 2030, nearly one in five U.S. residents is expected to be 65 and older. In fact, another person probably turned 65 in the time it took to read this paragraph (approximately one every eight seconds).

As these baby boomers retire at a rapid pace, they will be looking to maintain quality of life in their later years. Most want to avoid assisted living as long as possible, and many have the financial resources to achieve that goal. The resulting trend toward aging in place offers multiple opportunities, most of them representing a lucrative untapped source of revenue — based on cash — for home medical equipment providers.

As well as construction designs (think wider doors and level thresholds), accessible living trends impact various types of equipment: Think access ramps, stair lifts, overhead track systems, bathroom products, environmental controls and more.

"Consumers are starting to learn more about these products, and they realize there are alternatives to selling their homes or moving into an assisted living facility," says Conor Sullivan, director of marketing, Harmar Mobility.

To build this business, Sullivan says, "the best place for DME/HME providers to start is with their existing customer base." For example, he says, "There's a good chance if a customer is using a power chair or scooter they could also be in the market for a vertical platform lift or a stair lift." Advertising in local media is another good way to find clients, including those who may not yet need a power chair or scooter but can use assistance going up or down stairs, Sullivan adds.

The NextGen Medtrade Accessible Home, built on the show floor at Medtrade in November, offered attendees a glimpse of the opportunities available in the accessible living market. The 1,500-sq.-ft. home featured home health care scenarios in real-life settings with actual equipment used to provide care. The Heartland Home for Independent Living, a similar display at VGM's Heartland Conference last June, also alerted providers to the opportunities in the accessible living market.

Reaction to the NextGen home was "overwhelmingly positive," says Sullivan, noting interest from providers who might previously never have paid attention to products such as lifts.