HME News

AUG 2018

HME News is the monthly business newspaper for home medical equipment providers. This controlled circulation publication reaches 17,100 home medical equipment services providers, including traditional HME dealers & suppliers, hospital- and pharmacy-o

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Page 12 of 32

Providers 12 www.h MENE M / August 2018 / h ME NE ws Although more states are legal- izing marijuana for both medicinal and recreational purposes, the plant carries a stigma that CBD generally does not—once people learn the difference, says Lindsay McKeelan, RN, an educator at Remedy Health & Wellness. "I teach 'CBD 101' in the store, and I am going to local businesses and medical facilities to educate them," she said. "We offer a safe and comfortable environment. It's not like a smoke shop." Provider Chris Rice has been exploring CBDs as a potential addition to his existing pain man- agement offerings. There's demand for the product and the margins are decent—he's seeing wholesale pric- es for CBD oils range from $15 to $30, with retail prices of $45 to $90. "It's very complementary to a lot of the other products we do," said Rice, CEO of Riverside, Calif.-based Diamond Respiratory. "People are warming up to the idea." While Rice likes what he sees, he hasn't made a decision yet on whether to carry CBDs. "We're still trying to wrap our arms around it and see if it's a prod- uct we can bring on," he said. Suess says it's important to thor- oughly research CBDs, not only the brands you carry but also any requirements and restrictions in your city and/or state. "It's a new product, an interest- ing product," he said. "There's a lot of garbage on the market. It takes a while to find a value product." HME CASH CROP ? c o n t i n u e d f r o m pa g e 1 Hollis: We do it because there's a need. We are firm believers in tak- ing care of our seniors. You see across the world the bad things, the scams, seniors losing their life saving savings and being treated unfairly. If we can take a little chunk of the negativity out of east Tennes- see, then we'll start there. HME SENIORS c o n t i n u e d f r o m pa g e 1 1 RELIA b LE c o n t i n u e d f r o m pa g e 1 1 RTs to do setups in the home. It's an expense we feel is worthwhile and will provide the highest level of patient compliance." That in turn, allows Reliable Respiratory to educate payers on the role data plays in keeping costs to the healthcare system down, said Mongeau. The provider wants to work with health plans and phy- sician groups on data integration. "Many times we are finding those groups aren't even prepared to digest the data," he said. "As long as we have the data, we can work with them to set up pro- grams and protocols. It puts us in the quarterback position in the relationship." HME the company in 2011, 95% of its revenue came from Medicare. Within the first year he grew the retail business to almost 30%. Since then, the company has increased its retail sales by 1,500%. "They had a small store," said Nicotera. "It was 500 square feet at the time and I worked with that. Within a few months I decided to put a lift chair in the store and it sold. We went from one to two and continued from there." Now the company stocks 20 to 24 lift chairs in each its Scottsdale, Mesa, Chandler and Peoria, Ariz., locations. Founded in 1992 as G&S Medi- cal Services, AZ MediQuip offers a full range of DME, including aids to daily living, compression, mobil- ity, CPAP, oxygen, compression, orthotics and pain management products. AZ MediQuip shifted to a cash- only business model in July 2014, when the competitive bidding pro- gram rolled out to the Phoenix- Mesa-Scottsdale area. "Even though I hadn't been in the business a long time I was afraid," said Nicotera. "Reimburse- ment is the cornerstone of the HME business—or at least it was—so giving that up was done with a fair amount of anxiety." HME AZ M EDI qu IP c o n t i n u e d f r o m pa g e 1 1 Aeroflow names c F o A e ro f l o w H e a l t h c a re h a s named Scott Sonnone as CFO. He will play a vital role in expanding business for the Asheville, N.C.-based provider. He previously held executive positions at Zealandia Hold- ing Company and Cane Creek Cycling Components, where he led the profitable expansion of both organizations.

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