“Starting a Medical Equipment Business”
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@Shawn, congrats on your decision to start your company!  There are quite a few rules and regulations that you'll need to follow for Medicare and Medicaid.  A physical location is required so if you've got that and you've gotten started with your licenses, those are the first steps.  The Medicare website offers a lot of information and is a great place to start.  Do you know what type of equipment you'd like to sell?  If you have more specific questions, I'd be glad to help you.  My company offers consulting, credentialing and billing services. 

@Kaivan, There are a number of companies to look to...but my first question for you would be...has this product been approved by DMEPDAC? Also, is this a patient end-user product or should/would it be used by facilities?

@Nicole, Competitive Bidding is a pretty daunting task! If I can offer some advice to you in that area. Make sure you do your Activity Based Cost analysis. We are fearing up to help clients through the round 2 process. We learned a lot from round 1. Look at your competition...not just knowing who they are, but finding out where in the "buckets" they will fall. From the looks of your posting, you are pretty new. There is a special concession for start-ups. Don't fall into the trap of just submitting what was accepted in round 1!

@Shawn, If you will email me...I will send you my start-up checklist. It is a step by step document. Deanna

@Ron, I hope that it is not too late to offer you a little advice. As far as affordable accreditation...well you have make sure that your insurance carriers recognize any of the accrediting bodies you choose. There are some cases that private and medicaids do not recognize all of the accrediting bodies (even though they are recognized by Medicare). You really need to fit the accrediting body to what your do. I have worked with each one and would love to give you any guidance you may need in determining who to use.

@Sandy, I, too, am located in Georgia. Are you still looking to start a DME company? If you want to email me, I can see my start-up checklist!

@Victoria, Hospice contract are an awesome business model...and if you can get the right fee schedule...this is definitely a good place to start! The problem is...most hospice carriers are going to require you to be a registered DME company with Medicare. So, why don't you send me a quick email and I will help you determine that!

@Norman, There are a couple of places I would like to send you...first, check out Pinnacle MedSource. They are a distributor and I love dealing with guys! Also, look at Homecare Magazines website and at the bottom of the home page is a buyers guide that list a HUGE list of suppliers and what they carry. Good luck. Let me know how it goes.

@Anthony, A home-based DME supply business is limited in the products you can offer. The competition in this industry is tough and reimbursement from insurance companies is almost a requirement. Many state licenses prevent a home based business option and many of your insurance companies will not offer in-network status to home based dme suppliers. If you wish to contact me regarding supplies that you could build from as a home based business I would be more that happy to respond.

@Katrice Price, If you email me directly, I can send you my start-up check list that has links to the information you are needing/wanting! Deanna

Hello, I am Hari shankar from india, now settled in suzhou city of china and involving into import and export business, we also provide sourcing, auditing, inspection, distribution and third party legal contract services to the Indian traders who deal with Chinese traders, we are expertise in this business. Kindly contact me at haribasky@gmail.com or hari@shenyco.com, PH: +86 15962188015, MSN: haribasky@gmail.com

@Omar, If you are billing for insurance reimbursement of any kind for any product. you will have to be accredited (there are some very rare exceptions, I know, but more that require it than don't). If you are billing Texas Medicaid for incontinence products for adults, YES, you will need to Medicare certified. Deanna

@l&r, L&R: the start up cost for inventory for a dme supply store is really dependent on what your product mix is. I have seen companies spend as little a $4,000.00 on inventory and as much a 100,000.00+. You, also, have to know your market to really know that your high turnover products would be. I think the most frustrating question companies ask that I cannot answer off the cuff is this one. There are hundreds of categories and thousands of products to choose from. Deanna

@Wayne, I actually know a company that is looking for a management. Will you contact me with your resume? deanna.myers@att.net

@Omar, One of the best places to find suppliers for Durable Medical Equipment is at the Medtrade website. It lists the vendors for the most recent convention and the next convention. You, also, can find vendors at hmenews and homecare magazine. These are both online magazines...but excellent resources. Deanna

@b.k, If you are looking to be a Durable/Home Medical Supplier that provides equipment directly to the patient. It is difficult to get the licensing and certifications you need. If you want to be a home based business, i suggest you find items that are considered cash items and fall outside the DME benefit. You will need to pay special attention here to your state licensing requirements.