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Industry Overview: Medical Equipment Distributors
The medical equipment and supplies distribution industry in the US includes about 6,000 companies with combined annual revenue of about $53 billion. The industry is highly concentrated: the top 50 companies hold almost 65 percent market share. Most companies participate at a regional or local level and have revenues of about $5 million. Demand depends on the number of people in the US receiving medical treatment. Major products include medical and surgical supplies (about 45 percent of the market) and instruments and equipment (about 40 percent).
Complete Industry Report: $129.00
Source: http://www.hoovers.com/medical-equipment-distributors/--ID__228--/free-ind-fr-profile-basic.xhtml
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Top 10 Medical Equipment Trends in 2009
The "Top 10 Medical Equipment Trends in 2009" report is an essential source of information and analysis that will help answer questions like: which companies are poised for high growth in the coming few years, which are the growth sectors, how are competitors responding to changing market dynamics, what products are in pipeline and how would they impact sector growth, which medical equipment sectors would retain investor confidence, and what are the regulatory trends in leading economies and emerging economies? These are among the many questions that will be answered with insightful analysis in this report. The report analyses the ten major trends expected to influence the future of the global medical equipment industry. A strong understanding of the key trends to impact the medical equipment industry will prove to be a decisive factor in strategic planning and decision making for all involved in the value chain - investors, manufacturers, distributors, regulators, payer/providers and analysts tracking this industry.
Price for Electronic PDF: $1,000
Source: http://www.researchandmarkets.com/research/55421f/top_10_medical_equ
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Medical Products Distribution Industry Overview Demand for medical care, and medical supplies and equipment is expected to increase rapidly as the US population ages. The number of Americans over 65 will increase more than 50 percent between 2000 and 2020. Healthcare spending on older patients is also three times as high as for the average patient. Increased consolidation among manufacturers and distributors has been driven partly by consolidation among customers: hospitals, doctors’ groups, clinics, purchasing groups, and managed care companies. To buy in bulk at lower costs, customers form large buying groups, and sellers are more likely to get contracts with these groups if they can offer a wide product assortment. Other factors driving consolidation are shorter product life cycles and the high cost of new technology development.
Source: http://industries.hoovers.com/health-care/health-care-products/medical-products-distribution
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Economic Growth Still Exists in Durable Medical Equipment Industry In an economy on the brink of disaster, stories of companies experiencing rapid growth are few and far between. Few industries have been immune to the rapid economic downturn, but the home-delivery medical supply industry continues to grow despite Americans having less income. Florida durable medical equipment supplier TOTAL e-MEDICAL has experienced a 200 percent increase in total revenue over each of the past three years. "No matter what is currently happening economically, people will always need their diabetic testing supplies , ostomy supplies , and pain management products," said Gerald Freshman, CEO of TOTAL e-MEDICAL, a leading supplier of diabetes products and other durable medical equipment. "Our business has experienced unprecedented growth in terms of revenue, and employee numbers."
Source: http://findarticles.com/p/articles/mi_pwwi/is_200902/ai_n31360828?tag=content;col1
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Patients See Medicare Home Oxygen Cuts for 2009Cuts create anxiety among beneficiary and provider communities As Americans nationwide prepare to celebrate the New Year, the home oxygen community is looking to 2009 with great unease due to significant Medicare policy changes that will present many challenges to beneficiaries and providers alike. On January 1 , two new policies in the form of a 36-month cap on payments for home oxygen therapy and a 9.5 percent across-the-board payment cut will take effect, deeply impacting a community that cares for more than 1.5 million elderly and chronically ill patients.
Source: http://www.emsresponder.com/web/online/Top-EMS-News/Patients-See-Medicare-Home-Oxygen-Cuts-for-2009/1$8752
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Excerpt: Industry Overview: Home Healthcare Services The US home healthcare industry includes about 18,000 companies and agencies with combined annual revenue of $55 billion. The industry is highly fragmented: the 50 largest companies hold less than 25 percent of the market. Demand is driven by demographics, developments in portable medical technologies, and patients’ preference for in-home care. The profitability of individual companies depends on effective marketing and efficient operations. Large companies have some economies of scale in sales and marketing. Small companies can compete successfully by serving a local market. The industry is labor intensive: average annual revenue per worker is about $60,000.
Complete Industry Report: $129.00
Source: http://www.hoovers.com/home-healthcare-services-/--ID__128--/free-ind-fr-profile-basic.xhtml
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The New Oxygen Math It has been three months since the 36-month cap on the rental of oxygen equipment went into effect, and most providers have found a way to stay in business so far. However, the industry has faced only the initial challenge associated with this new law, and there is still a significant lack of understanding of how to operate in this new environment. We should not expect that all is or will be well for O2 providers. There are at least six new challenges that have been heaped on providers' plates. Each creates operational issues and will have a direct impact on every oxygen company's income statement.
Source:
http://homecaremag.com/oxygen/grade-oxygen-rules-regulations-200903/
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Oxygen Reform Plan Moves Ahead with 'Provider' Change Intact "The primary threat to the home oxygen benefit is the continued belief by policymakers that the oxygen benefit is simply an equipment-based benefit, which requires little if any service to meet patient and physician expectations … We will not be able to break out of this mindset in Washington if we do not seek recognition as home oxygen providers, commit ourselves to provide a core set of services and allow for some form of cost transparency.” Some hold a different view. The National Association of Independent Medical Equipment Suppliers issued a statement on the plan, noting, "We do not agree that a move to provider status is the only path leading to meaningful reform, nor do we believe that such a move will protect us from further cuts to reimbursement." The statement also said NAIMES believes including elimination of competitive bidding in the plan "will result in an unacceptable cut to payment if it is to remain budget-neutral."
Source: http://homecaremag.com/oxygen/aahomecare-15-point-oxygen-reform-plan-20090413/
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Excerpt: Medical Market Overview & Industry Trends
The worldwide healthcare market is influenced by a number of demographic trends, including the following: - Growing and Aging Population: The U.S. Census Bureau predicts that the majority of the U.S. “baby boom” population (28% of the total U.S. population) will begin to turn 65 between 2010 and 2020.- Consumer expectations for improved healthcare are increasing in both developed and developing countries.- Reimbursement and coverage of medical expenses by insurances companies and employers are on the decline—customers/patients have to contribute more money.- Technology is giving rise to new clinical therapies, which in turn are addressing more and more medical ailments and aiding in earlier diagnosis and prevention of diseases. Healthcare spending per capita has grown significantly across the world. In the U.S., it has increased from $144 per capita in 1960 to almost $4,400 by 1999. The U.S. per capita spending is projected to grow to $7,500 by 2008. Equipment suppliers understand that in order to be successful in the medical market they have to be focused and successful in the U.S.
Source: http://www.altera.com/end-markets/medical/overview/med-overview.html
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American Association for Homecare Applauds President Obama’s Plan to Aid Small Businesses The American Association for Homecare and its members applaud President Obama’s plan to support struggling small businesses by providing $15 billion in loansto loosen lines of credit. However, the President and the administration could do more and save thousands of additional small businesses in the Medicare home medical equipment (HME) sector by rescinding Bush’s last-minute “competitive” bidding regulations. Those regulations, which will have a negative effect on both patients and HME providers, are set to go into effect next month. Home medical equipment and care is already the most cost-effective, slowest-growing portion of Medicare spending, increasing only 0.75 percent per year according to the most recent National Health Expenditures data. That compares to more than 6 percent annual growth for Medicare spending overall. Home medical equipment represents only 1.6 percent of the Medicare budget. The home medical equipment sector was subjected to a 9.5 percent reimbursement cut that took effect on January 1, 2009.
Source: http://www.aahomecare.org/associations/3208/files/AAHomecare%20small%20business%20press%20release%20March%202009.pdf
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National Association of Independent Medical Equipment Suppliers (NAIMES) Key Issues for 2008 Resolved National Competitive Bidding (NCB) will eliminate patient choice for home medical equipment and oxygen, and reduce, then limit the number of suppliers in the marketplace. Studies show it will result in cheaper equipment, less service and higher cost to the Medicare program. It will reduce access to medical equipment by eliminating thousands of small businesses and reduce the quality of care and equipment by forcing bid winners to supply lower quality products to remain profitable. NAIMES strongly opposes the competitive bidding of DME. We support the postponement of Round 1, and ultimately the repeal of the NCB provisions of the MMA 2003. Capping oxygen payments and forcing the ownership of oxygen equipment to the patients will result in catastrophic issues for the sickest and frailest of Medicare patients. Their inability to maintain their oxygen equipment will result in ER visits and higher costs to Medicare due. It will also result in a secondary market for medical equipment controlled under FDA regulations that will cause harm to end-users. NAIMES strongly opposes the capping of oxygen payments at any length of time and/or the transfer of ownership to the patient under any circumstances. NAIMES supports the passage of HR 621/S1484 to repeal the cap provisions of the DRA 05.
Source: http://www.dmehelp.org/index.php?option=com_content&task=view&id=18&Itemid=55
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