The Evolution of HME Retail a Great opportunity

GAMES 2012 Annual Convention

August 6th 2013By: Jim Greatorex

HME Retail Topics Discuss the Retail Vision and Culture Discuss the opportunity and market What product catagories have the best

potential and what SKU’s move Marketing to all potential customers Hiring and retaining Great retail staff

When you want to sound intelligent steal some quotes!

"The mighty oak is just a nut that held its ground."

"To accomplish great things, we must not only act, but also dream, but also believe.“

"Every vision is a joke until the first man accomplished it; once realized,

it becomes commonplace."

Opportunity is all around you

If you don’t like change, you will like irrelevance less

Think about turning yourself into a marketing company who happens to sell HME

HME Retail - what is it

Retail- the sale of goods to the public in relatively small quantities for use or consumption (Oxford Dictionary)

HME Retailer- A company who sells and markets Health and Wellness aids to the general public in their store at a price in which consumers will buy.

The Myths to HME Retail

You are limited in what you can sell by Medicare rates and rules

Nobody will buy the bigger ticket items

You must bill insurance for everything possible

The product offering is limited and therefore so is the market

HME Retail is evolving Where competitive bidding is stifling

innovation in HME, retail is where the new technology is at

We are where people go to get products, advice, training, a trait that embraces the local company

For success we must be great marketers, product experts, and have great execution

Seize the opportunity

We must bring new technology to new prospective customers

Retail Marketing is different and evolving

Seek out new technology We must have great retail sales

people We must be marketing 24/7

The Retail Culture You can’t be afraid to ask people to

pay for things The philosophy should be gauged

around bringing people into the store. STOP DELIVERING EVERYTHING!

LIVE, EAT & BREATHE ABN’S Incorporate what you already do

well into retail opportunities.

KNOW YOUR MARKET

ROBUST SENIOR POPULATION? HOW MANY ASSISTED LIVING

PLACES AVAILABLE REASONABLE

COMMERCIAL REAL ESTATE MAKE YOUR EXPECTATIONS MATCH

YOUR MARKET

WHO’S REALLY BUYING 35-55 YEAR OLD

WOMEN!! SOME OF MY

FAVORITE PEOPLE!

ACTIVE SENIORS

AND…..

YOUR EXISTING CLIENTS

Traditional SKU’s you move STAIRGLIDES SEAT LIFT CHAIRS ROLLATORS SCOOTERS ORTHOPEDIC SOFT

GOODS SUPPORT HOSE PRIVATE RENTALS SAD LIGHTS TUB SEATS BP SETS &

STEHESCOPES

TRANSPORT WHEELCHAIRS

BEDS ALL TYPES POWER WHEELCHAIRS FOOTCARE MANUAL WHEELCHAIRS CANES PILLOWS HOT/ COLD PRODUCTS 20% OF DME PRODUCTS AIR PURIFIERS HELP ME I CAN’T GET UP POP DISPLAYS

New Markets to consider

Wellness and Pain Relief Products Incontinence Diabetic’s Accessibility Patient Handling Recurring Cash Sales

The Pain Market

30% of all US Adults greater then 18 years old report having Joint pain or stiffness

17% report the pain in the knees 9% report the pain in the shoulder A recent report stated that 116

million Americans have on-going pain issues

Back Pain is everywhere! In the United States, back pain is

reported to occur at least once in 85% of adults below the age of 50. Nearly all of them will have at least one recurrence. It is the second most common illness-related reason given for a missed workday and the most common cause of disability. Work-related back injury is the number one occupational hazard.

Customers Pay for Pain Relief! Find Products that

are proven helpful in helping people relieve pain

Everybody Sleeps! Compliment this

line with back, neck, knee, and cervical pillows

Look for New Technology

New Products New Referrals Find niche products that require sales

expertise Inside- Out Approach Must develop an outside promotion

program Doctors do not like to prescribe non-

covered items Do we truly know how to prospect? Inside sales people need to be product

experts

Best Marketing Opportunities

Home Shows Sales people calling on referrals for

retail products! In store promotions Web Site Promotion Infomercials

Incontinence and Diabetes

8640 Baby Boomers turn 65 every day Retail Incontinence is a 3 Billion dollar

market per year Figure out how to capitalize 23.6 Million People have Diabetes-8% Be the resource for their cash needs

Accessibility Products

People will pay for these products in order to stay in their home

Sell, rent, and buy back these products

Promote in Senior Publications, print, web site, and with Contractors

Know your competition

Patient Handling Products

This product line has a corporate and in home market

Hospitals and Nursing homes have Capitol budgets for these products.

Stimulus Money was made available specifically for this

Market to health facilities and online

Keep the Senior Home Help me I’ve fallen and can’t get up

products All the staples, Bath Safety, Seat Lift

Chairs, Transport chairs, etc.. Many sales of these products are the

introduction to the future products Would you like some steamed

mushrooms with that FOOD???

The Internet and HME Retail

Internet hits for HME retail products are on the rise.

Internet sales are slowly rising Baby Boomers are a common web

buyer Get on staff person to be your

companies web master

Demands on Manufactures Demand some market exclusivity Demand protected web pricing. Demand Sales Training In turn, we must give them a planned

detailed marketing plan and follow through.

Our best chance for continued success is promoting products that require a trained sales person

HME Sales Employees tips Don’t make it the bottom rung of the ladder Train them to be product experts Great hires are Big Box Store workers Average pay between $28-35K Build in spiffs and bonus programs Give them ownership on in-store marketing $30-35k per mo. Retail sales volume is a

goal

Questions?

Visit us in Portland Maine Contact info:

jim@blackbearmedical.com

Tel# 207-400-8023 Happy retailing