NEWS ARTICLES
Q. We currently service oxygen patients
with concentrators and compressed
gas for portability. In the last
year we have lost several patients to
competitors because we don’t offer liquid.
How should we evaluate what type
of equipment to provide going forward?
A. A simple way to analyze the cost of an
alternative system is to calculate the
anticipated monthly operating cost savings
(typically reduced oxygen and delivery
costs of servicing portability versus
a traditional system) per month and
divide those savings by the additional
upfront purchase cost of the alternative
system. The result will be the number of
months required to recapture your investment
in the additional cost of the
system. At a minimum, you should plan
to recover the additional cost sooner
than the expected life of the equipment.
The increase in direct marketing to
patients and physicians is a trend that
will continue and probably accelerate.
You need to evaluate if you want to
participate in this segment of the market
and, if not, how you will respond when
your existing patient base reacts to someone
else’s advertising.
No single system will be the most
appropriate answer for all patients. The
most successful providers we work with
are offering all of the systems depending
on the particular patient and circumstances.
And they are spending more
time educating referral sources and
patients about the new options available
and where each may be the best
solution.
Richard Glass is the President of SRA,
specializing in the growth and sale of HME/
Respiratory companies. 800-813-4984.
Reprinted with permission of HME News from the July 2004
issue. ©2004 United Publications, Inc., Yarmouth, ME.
www.hmenews.com
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