Successfully Moving Into the Retail Market

“Leave it to Beaver” has been replaced by “Modern Family.” The old way of running a DME business no longer works. With competitive bidding, stringent documentation requirements, lower reimbursement, and post-payment audits, Medicare fee-for-service should only be a component of the supplier’s total income stream. There are 78 million Baby Boomers retiring at the rate of 10,000 per day. Boomers are accustomed to paying for products out-of-pocket. And most Boomers want the “Cadillac” product - not the “Cavalier” product - so they can have an active lifestyle well into their 80s. The successful DME supplier will be focused on selling upgrades, utilizing ABNs, and selling “Cadillac” items for cash. These retail sales may take place in a store setting, through a kiosk, or over the Internet. When selling products for cash, there are a number of requirements that the DME supplier must meet. This program will discuss these requirements. Lastly, this program will discuss the benefits of setting up a separate legal entity through which the retail business will be operated.

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