As all of us have noticed, the DME industry is undergoing massive change. Last week at Medtrade, which is a very public reflection of the health and vibrance of the industry, we saw the consolidation of the industry first-hand. The show floor has dwindled down to a very small audience of DME providers, and you can feel the change in the air.
As a software provider in the DME industry, we can see first-hand the disaster that lower reimbursement rates have wreaked on small business providers. We have taken note that the providers that are surviving today are adopting new systems and business infrastructure. These changes are undoubtedly very uncomfortable, and require massive changes in the way they do business, but they are also critical to survival.
There are a few providers who are quickly embracing Bonafide’s software to help them gain important business systems, insight and management tools. These are the providers that are thriving. Their margins are healthy because they have close control over their inventory, delivery systems and billing systems. They maintain lean overhead, get reimbursed faster, and at maximum rates. These providers are taking market share from other providers based on their ability to control margins with powerful software from Bonafide.
As we see it from the inside, change is a welcome godsend if embraced, death if not. Please, give me a call and let’s talk about how Bonafide can help your business be not just a survivor but a thriver in today’s compressed market. I would like to see you on the other side of this consolidation process, and I know we can help make that happen for you.