After talking with hundreds of HME providers about their sleep businesses and also doing extensive analysis we have come to a rather shocking conclusion… There are only really three core elements that can significantly grow an existing HME sleep business.
Revenue, Adherence and Operational Costs.
This presumes, of course, that the HME is already has the basics in place… meaning they actually have a sleep business.
It may seem painfully obvious, because it is. There is no hidden secret here. In the HME sleep business, like any other business, there are only a few fundamentals that need to be managed in order to grow the business.
It’s not understanding or knowing about the fundamentals that is the challenge, no the challenge lies more in understanding how to move the core elements in the direction you want them to move.
Revenue should go… up.
Adherence to therapy should go… up.
Operational costs should go… down.
Again, no rocket science here.
But how to effectively move these core elements in the right direction is a major challenge.
You could be like Sisyphus and use nothing but your own effort in a fruitless endeavor.
Or you could apply leverage like Archimedes.
Would you rather move the world or get crushed by the rock on it’s downhill run?
I kinda thought you were a leverage person. We’ll talk about levers in my next post.
No related posts.
Tags: Sleep Business