HC: What is your view of where the HME/DME industry is headed in the coming years?
TR: As has been well documented, America’s 78 million Baby Boomers are turning age 65 at a rate of one every 10 seconds and people are living longer in general. So despite the changing landscape of the industry from a legislative/regulatory standpoint, there are more opportunities than ever. In July 2013, when Round 2 of the Competitive Bidding Program begins, it will be critical for providers to expand their product offerings and diversify if they do not win a bid. With all challenges, through adversity comes great opportunity. The remainder of the decade will present consistent growth for providers, and the industry is positioned to capture this opportunity.
Retail items are becoming increasingly important as Baby Boomers—many of whom have disposable income—can easily afford them. This generation wants to remain active and independent. They want to be able to spend time with their grandchildren and get out of the house. Mobility products are extremely valuable to mobility impaired seniors who desire to lead full lives. Providers need to get engaged with retail, make the investment, jump in with both feet and stay committed to best practices to drive awareness to consumers. To think like a retailer, they need to create traffic, offer a compliment of products, including brand names and be knowledgeable of the market and consumer. Providers also need to know their competition, both locally and on the Internet, and be the true mobility specialist within their area. Pride invests heavily in helping to train our providers’ sales staff to be retail sales specialists. This includes keeping provider associates up to date with the latest product information and assisting with development of customer service skills. We also focus on showroom merchandising techniques and the tools necessary for each retailer to do their job effectively. Rounding out the retail sales strategy is utilizing Pride’s Provider Market Support Services which incorporates advertising, public relations support and participation in retail events, all designed to deliver a consistent message. Successful providers are those who implement marketing strategies to communicate with, and capitalize on, potential and repeat customers who have newly established or existing HME needs.
HC: How is Pride/Quantum helping HME/DME providers in the current environment?
TR: The most important thing in the competitive bidding environment is to have high quality products at a low cost, which is what Pride Mobility and Quantum Rehab strive to give its providers. With their profitability dropping, most providers do not have the time or resources to make repairs to products. Developing additional retail products that allow providers to minimize cost and maximize profits is priority one. Pride and Quantum want to be sure we are treating providers in a fair and equitable manner. In order to gain efficiency, we are working as a company to streamline processes. Our new website, www.prideprovider.com, is an example of this. The new provider website combines all online provider resources into one site with a single login. It has a clean, aesthetic look and intuitive navigation. The website allows the provider to have a simplified shopping experience for products and parts online. Ordering through the website helps providers keep costs at a minimum and gain new efficiencies in their businesses. We are continuing to work from a government affairs perspective toward the best outcomes possible for beneficiaries and the industry as a whole. We also have a Competitive Bidding Resource Center on www.prideprovider.com. The website is a one stop source for all providers’ competitive bidding needs, including bid spreadsheets, Medicare bidding documents, product information and more. Our Government Affairs team is continuing to work toward the best outcomes possible for providers and beneficiaries, including advancement of the Market Pricing Program industry alternative to replace the flawed Medicare bidding program where action is expected in December.
