2013 Innovative HME Retail Product Awards

The 2013 Innovative HME Retail Product Award winners were showcased at Medtrade last month in Orlando, Fla. More than 20 entries were judged by retail expert Jim Greatorex—owner of Black Bear Medical in Portland, Maine—and a panel of industry members on functionality, quality/durability, aesthetics/style, environmental sustainability and ease of retail setup and pricing. The results were announced at a roundtable conference session, The Best New HME Retail/Cash Opportunities, moderated by Jim during the tradeshow. We stole a few minutes with Jim to discuss the new products and what they mean for HME providers.

HC: How did the idea of the awards come to fruition, and how did you choose the judges?

JG: The Medtrade Education Advisory Board was looking to highlight new vendors and products, and when you think about it, why do many buyers come to Medtrade? To find the latest cutting-edge products that may be a new revenue generator for their markets. We thought this track would help people get a peek at new products and see the best new opportunities in one quick hour.

HC: How difficult was it to narrow down the product entries? What were you looking for?

JG: We thought all the entries were great and offered opportunity, especially for suppliers who have a cash/retail mindset. The products we picked, we felt were innovative, offered the biggest and broadest market opportunity and had some marketing assistance for the supplier.

HC: Do you have a favorite product among the winners? Will you be carrying any of them in your store?

JG: Among the winners, our company already carries the Nufoot product line. We also ordered the iWalk and EVE products. We are researching some of the other products and will discuss them with our marketing team. Each product requires some individual marketing attention in order for it to be an inventory turner, so we’re focusing on the lines we feel will turn the quickest or offer the greatest return on investment, rather than tackling so many at once.

HC: What made the five winners stand out from 
the crowd?

JG: There were many great new products. We felt like the winners had the broadest market appeal and were the freshest innovation. There were great products that we didn’t highlight that either didn’t have as broad a market, were maybe a twist on an existing product or were great products but had been around for three or more years already.

HC: Have these manufacturers seen a spike in sales since the winners were announced at Medtrade?

JG: I was told by the three vendors after the session that people were leaving early to go place orders. I heard that EVE and iWalk, pretty much sold out of their current inventory. We definitely consider this event a success, and will continue to highlight innovative cash/retail products at future Medtrade gatherings.