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Financial Opportunities in the Medical Alert Marketplace

Financial Opportunities in the Medical Alert Marketplace

There are plenty of ways that HME providers can achieve success in this sector

by Arthur A. Von Ahnen

With the senior population growing daily and the trend of aging-in-place, medical alert systems (PERS) are becoming a necessary service for seniors to call for help or assistance when they are at home. In a hospital or a nursing home, there is a call button to press when help is needed. At home, though, individuals are left to fend for themselves. Even when there is a home care service or family members around to offer assistance during the day, typically when night falls patients are vulnerable to emergencies and falls when there is no one there to help them. A medical alert gives them that call button for those times. With this in mind, there is a great opportunity for HME providers and home health care services to add a profitable line to their offerings—medical alert systems. Historically, when a patient or customer has the need for a medical alert system, the HME provider or home health care company refers them to a medical alert company, who sends the system to the patient and then bills the customer accordingly. With these systems becoming such a necessary part of aging-in-place, it only makes sense for providers to carry these products and services themselves. (In the May issue, I explained different types of medical alert systems and how they work. You can review that article online at homecaremag.com/home-monitoring-2015.) One of two systems—a monitored medical alert system or a non-monitored medical alert system\’97will fit perfectly within the business model of an HME company or caretaker service.

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