VGM poised for growth with new Emerging Markets division
WATERLOO, Iowa – When change is upon you, the choice is either to resist it or commit to making it work. That’s one way of looking at the choice facing HME providers in the wake of, among other things, recent CMS reimbursement cuts and the resulting shifts in the marketplace.
Mike Mallaro, CFO of The VGM Group, said his organization has chosen to commit to change by launching a new division, VGM Emerging Markets.
“As we’ve grown and kept identifying new opportunities, we’ve tended to be short on the resources and people necessary to move new ideas forward at the rate we wanted to,” he said. “So we decided to create a separate organization within VGM to handle those opportunities.”
VMG Emerging Markets will allow the member services organization to focus more fully on CPAP re-supply services and online education services for HME, nursing and other sectors.
“We search out many opportunities,” he said. “Some we pursue, some we don’t. Now, however, we’ll be able to be much more aggressive.”
As Mallaro sees it, the new, more proactive approach that VGM Emerging Markets will enable is just part and parcel of how HME providers need to view their involvement in the healthcare market moving forward.
“You have to be integrated within the healthcare continuum,” he explained. “Given changes in regulations, market forces and overall trends, you can’t operate in a bubble. There’s a lot of change going on all across healthcare.”
Despite constant changes and challenges for HME providers, Mallaro says he is “incredibly optimistic” about their prospects.
“I see the market growing dramatically, with growing issues such as obesity and aging and the cost of healthcare, and the fact that home-related healthcare is cheaper,” he said.