“Another data point shows just how greatly Medicare’s importance as a revenue driver for HME has dropped. In addition to Medicare’s 16 percent share, Medicaid accounted for 15 percent of HME spending, and all other sources, such as private payer and retail sales, represented 68 percent of HME spending.”
“According to research AAHomecare had been performing using Medicare data, the number of traditional suppliers of home medical equipment to Medicare beneficiaries has dropped 40.9 percent since July 2013. In addition, the number of unique locations (commonly referred to as rooftops) serving Medicare beneficiaries has declined by 38.7 percent during the same period.”
“A successful marketing plan is based on what you did in 2016—what worked and what didn’t—and what you want to make sure you do again. If you don’t think about each of these items, you may be doomed for failure—you don’t want to be responsible for helping your competition have their best year in 2017. Plan now, and make the success all yours!”
It’s hard to believe that the year is coming to an end. It means it’s time to get a jump on planning for the new year. This article is full of great thought provoking ideas and tips on how to move your marketing efforts to a higher level. Full of great advice!
“One of the major changes in the medical device sector is the continuously growing emphasis on home health care through wearable device and remote monitoring devices. Technology now allows patients a much more flexible approach to therapy, one that does not diminish their life styles as previously. A recent research report by Meticulous Research estimates that the global home medical devices market is expected to reach $48.47 billion by 2022 with a CAGR of 7.8% over the period of 2016 to 2022.”
“Medicare reimbursement rates for home medical equipment cover just 88 percent of overall costs for companies providing this service, raising concerns about the future viability of the home medical equipment industry under the current Medicare model, according to an American Association for Homecare study.
The report’s conclusions show the current Medicare competitive bidding program for home medical equipment is producing financially unsustainable rates, and faults the program for its lack of transparency.”