While the home respiratory therapy business has been under siege from Medicare and managed care over the years, it still remains a viable product line for the HME provider — provided of course, it is managed well to produce profitability. In today's competitive environment, HME providers need to develop respiratory programs that set them apart in the eyes of their customers. With continued cost pressures, providers need to look at any extraneous costs in their business. The application of respiratory therapy clinicians in the business may fit into this area.
How to Create a Business Plan for a Training Center
Our business strategy - Our Company - AstraZeneca
But it happens — and more frequently than you might think. What does it take to become an RT entrepreneur? We talked to several AARC members who have taken that path. CSW Medical Corp was born as a DME provider, but soon thereafter, the DRGs came into being, leading many hospitals to look for long-term care settings where they could place patients with tracheostomies and other pulmonary complications who could no longer be cost-effectively cared for in the acute care facility.
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Starting a respiratory equipment business presents relatively few, if any, major stumbling blocks. However, the respiratory equipment category is extremely competitive with an abundance of government controls. Your challenge, therefore, is to start a respiratory equipment business that will be profitable.