Wave of activity at Home Health
INDIANAPOLIS – What a difference a year makes.
Home Health Depot started 2009 as a company with about 28 employees providing power mobility devices and standard HME. It started 2010 as a company with 80 employees providing those products and respiratory.
Home Health Depot has happenstance to thank for much of its success.
The company added the bulk of its employees when the owners of Indianapolis-based Adaptive Mobility approached it about buying their company last year, and it took them up on their offer. And it added respiratory when a former provider approached it about coming out of retirement to help them start the new division, and it took him up on his offer, too.
“We weren’t really looking for any of it,” said Derek Miller, Home Health Depot’s rehab sales manager. “It came to us.”
Home Health Depot also acquired Bargersville, Ind.-based Sun Medical last year, after its owner passed away.
Now that Home Health Depot has some momentum, though, it doesn’t plan to rely on happenstance any longer.
“Acquiring additional companies is definitely a future goal of ours,” Miller said.
As it stands, Home Health Depot covers Indiana, Illinois, southern Michigan and western Ohio from eight locations, the newest in Lafayette, Ind. It relies on a mix of payers, including Medicare (30%), Medicaid (30%), retail (15%) and, most recently, the Department of Veterans Affairs (10%).
Home Health Depot figures that if it has its hands in enough cookie jars, from a product, geographic and payer perspective, they’ll make it just fine, despite threats like national competitive bidding.
“Our overall push is to get ourselves in a position that if something detrimental were to happen, it would have a limited impact on the company,” Miller said.