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Message
re: Steps to start a medical supply business
Posted on 9/27/16 at 2:21 pm to PoppaD
Posted on 9/27/16 at 2:21 pm to PoppaD
quote:
Now if your selling a device and going to bill Medicare, strap in for the long haul to get Medicare certified. If you are going to branch out and try to get reimbursed by other insurance companies then you are in for an even longer haul. A DME is typically a company that supplies patients with product, then bills the patients insurance, then waits around to get paid 60 days or more. I hope you have some capitol to make it in the mean time.
Yep, for example, I just got fingerprinted last week as part of the process.
0
Posted on 9/27/16 at 2:21 pm to monkeybutt
does medical supplies hire slut puppies like pharma sales?
Posted on 9/27/16 at 2:21 pm to financetiger
start off on black market
Posted on 9/27/16 at 2:22 pm to PoppaD
Think most patients would pay out of pocket. But yes, I'm willing to wait to be paid. That won't be a problem. Not looking for a Wal-Mart type store. Very specialized.
Posted on 9/27/16 at 2:24 pm to financetiger
Posted on 9/27/16 at 2:25 pm to uway
Considering I've already got a career, just wanting to start a little side business. But that's funny!
Posted on 9/27/16 at 2:32 pm to financetiger
(no message)
This post was edited on 9/27/16 at 3:12 pm
Posted on 9/27/16 at 2:48 pm to financetiger
DONT keep zombies from night of the living dead in barrels in the basement.
Posted on 9/27/16 at 5:09 pm to financetiger
Posted on 9/27/16 at 5:18 pm to financetiger
I am going to suggest if you coming here for those simple questions, you probably should not run a business.
Posted on 9/27/16 at 5:37 pm to financetiger
1. Buy diabetic test strips from people on Medicaid who don't check their glucose. Buy walkers/wheelchairs etc. for pennies on the dollar. Advertise on Craigslist.
2. Sell said products to people with a high deductible insurance policy for cash.
....
4. Profit.
2. Sell said products to people with a high deductible insurance policy for cash.
....
4. Profit.
Posted on 9/27/16 at 5:46 pm to financetiger
This sounds like a lot of work just to get a nitrous tank. #whipits
Posted on 9/27/16 at 5:54 pm to financetiger
You are insane to even thing about this.
Medicare reimbursements have been gutted for medical supply companies to the point that by the time you pay a guy $9/hour to deliver something you are in the red on the transaction.
Also, Medicare documentation to even get reimbursed for said equipment is so exhaustive you are going to require a lot of staff which will result in a ton of in house overhead.
Medicare reimbursements have been gutted for medical supply companies to the point that by the time you pay a guy $9/hour to deliver something you are in the red on the transaction.
Also, Medicare documentation to even get reimbursed for said equipment is so exhaustive you are going to require a lot of staff which will result in a ton of in house overhead.
This post was edited on 9/27/16 at 5:58 pm
Posted on 9/27/16 at 6:03 pm to financetiger
quote:
financetiger
quote:
finance
this thread just devalued a LSU business degree by 12%
Posted on 9/27/16 at 6:07 pm to financetiger
If you are going to sell catheters, sell the ones that slide in without hurting. And if they don't hurt when you yank them out too, you'll make a piss ton of money.
Budget a little extra for those signs that people nail to telephone poles. Advertising is a must in the dog eat dog world of medical supplies.
Budget a little extra for those signs that people nail to telephone poles. Advertising is a must in the dog eat dog world of medical supplies.
Posted on 9/27/16 at 6:09 pm to financetiger
quote:
I've already got a career, just wanting to start a little side business.
I wasn't kidding. You need a lawyer or a business partner
Posted on 9/27/16 at 6:15 pm to financetiger
If you can get this going, you can make yourself very rich. Huge amounts of margin in this business.
Posted on 9/27/16 at 6:21 pm to Breesus
I've been in the industry for 13 years. We deal with over 500 manufacturers and 35,000 products. As others have said Medicare has been cutting reimbursement in several categories for the last few years. Some as much as 50%. Many long time suppliers are closing their doors. If it's a retail item you might be surprised what's already being sold on Amazon. Good luck.
Posted on 9/27/16 at 7:11 pm to financetiger
For your sake I hope it's not unregulated pharmaceuticals, like compounded pain creams. If so, get out now.
Family friend made a good run of it. Nice car, lavish pad. Cash kickbacks to the Doctors was brilliant. Hopefully his wife still loves him when he gets out of prison.
Family friend made a good run of it. Nice car, lavish pad. Cash kickbacks to the Doctors was brilliant. Hopefully his wife still loves him when he gets out of prison.
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