The Evolution of HME Retail a Great opportunity

The Evolution of HME Retail a Great opportunity GAMES 2012 Annual Convention August 6 th 2013 By: Jim Greatorex

HME Retail Topics n n n Discuss the Retail Vision and Culture Discuss the opportunity and market What product catagories have the best potential and what SKU’s move Marketing to all potential customers Hiring and retaining Great retail staff

When you want to sound intelligent steal some quotes! "The mighty oak is just a nut that held its ground. " "To accomplish great things, we must not only act, but also dream, but also believe. “ "Every vision is a joke until the first man accomplished it; once realized, it becomes commonplace. " n n n

Opportunity is all around you If you don’t like change, you will like irrelevance less n Think about turning yourself into a marketing company who happens to sell HME n

HME Retail - what is it n n Retail- the sale of goods to the public in relatively small quantities for use or consumption (Oxford Dictionary) HME Retailer- A company who sells and markets Health and Wellness aids to the general public in their store at a price in which consumers will buy.

The Myths to HME Retail n n You are limited in what you can sell by Medicare rates and rules Nobody will buy the bigger ticket items You must bill insurance for everything possible The product offering is limited and therefore so is the market

HME Retail is evolving n n n Where competitive bidding is stifling innovation in HME, retail is where the new technology is at We are where people go to get products, advice, training, a trait that embraces the local company For success we must be great marketers, product experts, and have great execution

Seize the opportunity n n n We must bring new technology to new prospective customers Retail Marketing is different and evolving Seek out new technology We must have great retail sales people We must be marketing 24/7

The Retail Culture n n You can’t be afraid to ask people to pay for things The philosophy should be gauged around bringing people into the store. STOP DELIVERING EVERYTHING! LIVE, EAT & BREATHE ABN’S Incorporate what you already do well into retail opportunities.

KNOW YOUR MARKET n n ROBUST SENIOR POPULATION? HOW MANY ASSISTED LIVING PLACES AVAILABLE REASONABLE COMMERCIAL REAL ESTATE MAKE YOUR EXPECTATIONS MATCH YOUR MARKET

WHO’S REALLY BUYING n n 35 -55 YEAR OLD WOMEN!! SOME OF MY FAVORITE PEOPLE!

n ACTIVE SENIORS

AND…. . n YOUR EXISTING CLIENTS

Traditional SKU’s you move n n n n n STAIRGLIDES SEAT LIFT CHAIRS ROLLATORS SCOOTERS ORTHOPEDIC SOFT GOODS SUPPORT HOSE PRIVATE RENTALS SAD LIGHTS TUB SEATS BP SETS & STEHESCOPES n n n TRANSPORT WHEELCHAIRS BEDS ALL TYPES POWER WHEELCHAIRS FOOTCARE MANUAL WHEELCHAIRS CANES PILLOWS HOT/ COLD PRODUCTS 20% OF DME PRODUCTS AIR PURIFIERS HELP ME I CAN’T GET UP POP DISPLAYS

New Markets to consider n n n Wellness and Pain Relief Products Incontinence Diabetic’s Accessibility Patient Handling Recurring Cash Sales

The Pain Market n n 30% of all US Adults greater then 18 years old report having Joint pain or stiffness 17% report the pain in the knees 9% report the pain in the shoulder A recent report stated that 116 million Americans have on-going pain issues

Back Pain is everywhere! n In the United States, back pain is reported to occur at least once in 85% of adults below the age of 50. Nearly all of them will have at least one recurrence. It is the second most common illness-related reason given for a missed workday and the most common cause of disability. Work-related back injury is the number one occupational hazard.

Customers Pay for Pain Relief! n n n Find Products that are proven helpful in helping people relieve pain Everybody Sleeps! Compliment this line with back, neck, knee, and cervical pillows

Look for New Technology

New Products New Referrals n n n Find niche products that require sales expertise Inside- Out Approach Must develop an outside promotion program Doctors do not like to prescribe non-covered items Do we truly know how to prospect? Inside sales people need to be product experts

Best Marketing Opportunities n n n Home Shows Sales people calling on referrals for retail products! In store promotions Web Site Promotion Infomercials

Incontinence and Diabetes n n n 8640 Baby Boomers turn 65 every day Retail Incontinence is a 3 Billion dollar market per year Figure out how to capitalize 23. 6 Million People have Diabetes-8% Be the resource for their cash needs

Accessibility Products n n People will pay for these products in order to stay in their home Sell, rent, and buy back these products Promote in Senior Publications, print, web site, and with Contractors Know your competition

Patient Handling Products n n This product line has a corporate and in home market Hospitals and Nursing homes have Capitol budgets for these products. Stimulus Money was made available specifically for this Market to health facilities and online

Keep the Senior Home n n n Help me I’ve fallen and can’t get up products All the staples, Bath Safety, Seat Lift Chairs, Transport chairs, etc. . Many sales of these products are the introduction to the future products Would you like some steamed mushrooms with that FOOD? ? ?

The Internet and HME Retail n n Internet hits for HME retail products are on the rise. Internet sales are slowly rising Baby Boomers are a common web buyer Get on staff person to be your companies web master

Demands on Manufactures n n n Demand some market exclusivity Demand protected web pricing. Demand Sales Training In turn, we must give them a planned detailed marketing plan and follow through. Our best chance for continued success is promoting products that require a trained sales person

HME Sales Employees tips n n n n Don’t make it the bottom rung of the ladder Train them to be product experts Great hires are Big Box Store workers Average pay between $28 -35 K Build in spiffs and bonus programs Give them ownership on in-store marketing $30 -35 k per mo. Retail sales volume is a goal

Questions? n n Visit us in Portland Maine Contact info: jim@blackbearmedical. com Tel# 207 -400 -8023 Happy retailing