There are several categories in the HME market that providers can profit from. A category that is often overlooked is bed safety. Did you know that the average person spends one third of their life in bed? That is a lot of time, and it is also a lot of money HME providers are missing out on if they are not selling every person who walks in the door a bed safety product.
There are different types of bed safety products, from full hospital beds that can be used in the home to patient lifts and trapeze bars to assist in transferring in and out of bed. However, probably the most common and widely used bed safety products are bed rails. They range from rails affixed to hospital beds to universal bed rails that can attach to any home, hospital or adjustable bed. A common misconception about bed rails is that they are only used to keep people from falling out of bed, and that is not the case. Other than full hospital beds, there are universal bed rails on the market that offer fall prevention, but most bed rails are designed to be used as bed handles that provide assistance getting in and out of bed. Every senior could benefit from using a bed rail because of the extra support and stability it provides for increased mobility.
So how do HME providers profit from offering bed rails? First of all, the best strategy with any product category you bring into your store is to offer "good, better and best" options to your customers. This means the customer will buy from your store rather than go somewhere else because you only offer them one option. And most customers end up buying either the better or best option because they want a higher quality product, and the lowest cost product gives the customer a frame of reference. You then become a destination for your customers to purchase home health-care products because they know that you provide more options for them to choose from and they don’t need to shop anywhere else. You are also increasing the average dollar spent per customer by offering options besides just the lowest priced product, which in turn increases your overall sales, leading to more money in your pocket.
Now you are probably wondering which types of bed rails you need to offer in order to provide “good, better and best” options. There are several different ways to go about it, but the key is to offer bed rails that have various features and benefits for different prices. For example, your “good” bed rail option should be a rail that provides assistance getting in and out of bed, and possibly has an organizer pouch, but not much more than that. It should be in a price range between $49 and $79.
The “better” option should be a rail that offers the same features as the “good” option, plus a few more. For example, one that can be used as a bed handle and has an organizer pouch to overcome entrapment, but is also a bit wider than the “good” bed rail option to act as a half safety rail as well. The “better” option could also include other features such as legs to the floor that give the end user a better sense of security and stability, or even a rail that can drop to the side of the bed for easy transfer when not in use. The “better” option should be in the price range between $89 and $129.
Finally, with the “best” bed rail option, your number-one goal should be to upsell the customer and increase your profit. Your sales staff should be trained to always introduce the customer to the “best” option first, and give a detailed explanation as to why that option is superior to the others. The “best” option bed rail should include some of the same options as the “good” and “better” rails, but also include a few more features. For example, you will want to offer a bed rail that is a full length safety bed rail, or that has an adjustment option to be both a safety bed rail and bed handle. Other features could include an upgraded, padded zero-entrapment organizer pouch, an included swivel tray attachment or a higher weight capacity of 400 pounds or more. Some bed rails are even designed to have the ability to swing out perpendicular from the bed and provide even more stability, allowing the user to get to their walker or wheelchair more easily. The bottom line is that your “best” option bed rail should be a deluxe or high-end product to increase your cash flow, and the price range should be between $139 and $199.
By examining these examples of bed safety products—and applying the simple formula of offering “good, better and best” options throughout your store—you will not only see an increase in bed safety sales, but an increase in your store’s overall profits.
