Sleep & respiratory: Form strong partnerships

Q. How can partnering with manufacturers help HME providers reduce risk and manage costs? 

A. In the HME industry, managing costs and minimizing risks are critical for long-term success. One of the most effective ways to achieve both is by forming strong partnerships with manufacturers. By working closely with manufacturers, HME providers can streamline operations, improve cash flow and enhance patient care. When assessing potential partnership with a manufacturer, the following are important topics for discussion. 

Cost management through better pricing and supply chain stability 

Partnering with manufacturers often means gaining access to bulk purchasing discounts, volume-based incentives or exclusive pricing agreements. These cost advantages help HME providers maintain profitability while keeping prices competitive. Additionally, close collaboration ensures a more predictable and reliable supply chain, reducing the risk of product shortages or delays that could impact patient care and operational efficiency. 

Mitigating compliance and regulatory risks 

HME providers must navigate a complex landscape of regulations, including reimbursement policies and quality standards. Manufacturers often have dedicated teams that stay up to date with regulatory changes, assuring products meet full FDA approval, or if applicable international standards. By working together, providers can ensure they are using products that meet all necessary requirements, reducing the risk of audits, fines or denied reimbursements. 

Access to training and technical support 

Manufacturers provide valuable product training and technical support, helping HME providers and their staff stay informed on the latest equipment advancements. This educational partnership requires maintenance from both parties to be successful. This reduces the risk of improper use or inadequate patient education, both of which could lead to costly readmissions, equipment failures or liability issues. 

By leveraging these partnerships, HME providers can operate more efficiently, reduce financial and regulatory risks, and deliver higher-quality care to patients. 

Colleen Lance, MD, is chief medical officer at React Health. Reach her at Colleen.Lance@ReactHealth.com.