Page 11 - HME Business, April 2020

Contents
4 ‘To E or not to E’
Pharmacies have been handling e-prescriptions for some time, but the technology has reached the world of DME. How should DME pharmacies weigh the pros and cons?
10 Go Google Yourself!
Your pharmacy’s marketing success may depend on taking control of your online presence — even if you didn’t know you have one.
13 DME Marketplace
We look at some of the latest products on the market.
EDITOR’S NOTE
Sizing up the Wound Care Opportunity for Pharmacies
April 2020
Helping pharmacy owners and operators expand their DME businesses.
Executive Editor Associate Content Editor
Publication Design Production Coordinator
Director of Online Product Development
Publisher
Group Sales Manager
David Kopf
(949) 265-1561
Haley Samsel (972) 687-6739
Wendy Byle, Byle Design Teresa Antonio
Marlin Mowatt David Kopf
(949) 265-1561 Rick Neigher (818) 597-9029
A S P E C I A LF RP OU MB L I C A T I O N
ALSO INSIDE
A p r i l 2 0 2 0
T o E oEr not to
E-Prescription has come to DME. How should your pharmacy respond?
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hme-business.com
• Online Pharmacy Marketing Page 10 • CBD Marketplace Page 13
EDITORIAL ADVISORY BOARD
Pharmacies, and
particularly DME pharmacies, sit in a prime position to serve a market opportunity of substan- tial scale: wound care. The global wound care market will expand at a compound annual growth rate of 4.3 percent
from $33.9 billion in 2017 to $45.5 billion by 2024, according to research from data and analytics firm GlobalData.
Also, new data from market researchers Future Market Insights projects that the North American market for negative pressure wound therapy (NPWT), which is dominated by the United States, will grow to $3.2 billion by 2029, largely due to the growth of single-use disposable devices. (In case you’re not familiar with the therapy, NPWT uses a sealed bandage and a vacuum pump to draw fluid away from the wound and draw blood to the area to promote healing.)
There are multiple patient groups that need wound care services; a healthy mix of referral partners; revenue sources that go beyond the Medicare model; and some core product offer- ings that DME pharmacies can knowledgeably support. With the right level of commitment,
a pharmacy can establish itself as an expert resource for wound care products and supplies in its healthcare marketplace.
In terms of the product categories, key wound care products that pharmacies serving wound care patients should offer include (some should sound very familiar to you): Standard dressings; compression therapy; NPWT devices and dress- ings; enteral nutrition to deliver proper nutrition for healing; and, for larger DME pharmacies,
therapeutic support surfaces such as Group 2 mattresses.
In terms of funding, Medicare and private payer insurance cover various wound care items (with varying levels of reimbursement), but they don’t always fund everything. Also, some patients might want more than what is covered just for good measure, so retailing plays a role in wound care services, as well.
Whether the funding is public, private or cash, the pharmacy must consider how it approaches different segments of the wound care and which products it offers. Understanding the nuances
in dealing with individual consumers is critical. For example, the quality and variety of dressings have evolved in recent years, which means the pharmacy needs to have lots of stock of a wide variety of offerings. And with payers wanting to pay for lower price options, while clinicians want to obtain higher-end items, DME pharmacies must source products that will suit both priorities.
From a referrals perspective, there are a variety of partners that DME pharmacies entering wound care should target. A key referral source is wound care centers. These centers often serve diabetic patients, people with pressure ulcers and other patients that need treatment. Other referral partners include doctors and hospitals, as well as orthopedic facilities.
Regardless of type, regularly educate your referrals on the products you offer and new innovations that are now on the market.
David Kopf
Publisher & Executive Editor HME Business & DME Pharmacy
Steve Ackerman
President Spectrum Medical
Jeffrey S. Baird, Esq.
Chairman of the Health Care Group of Brown & Fortunato, P.C.
Cara Bachenheimer
Lobbyist/Government Affairs for Brown & Fortunato, P.C.
Rob Baumhover
Director of Retail Services for VGM Retail Services
Ty Bello, RCC
President and Founder Team@Work
Rob Boeye
Executive Vice President of HME Brightree LLC
Sandra Canally
President
The Compliance Team Inc.
John Letizia
President of Laurel Medical Supplies Inc.
Joe Lewarski
Vice President of Global Respiratory and Sleep Drive Devilbiss
Faisal “RJ” Poonawala
President Spring Branch Medical Supply
Ron Resnick
President Blue Chip Medical Products Inc.
Tom Ryan
President and CEO AAHomecare
Gary Sheehan, MBA
President and CEO Cape Medical Supply
Wayne van Halem
President and Founder The van Halem Group LLC
INFRASTRUCTURE SOLUTIONS GROUP
President & Group Publisher
Group Circulation Director Group Marketing Director
Chief Executive Officer Chief Financial Officer Chief Technology Officer
Executive Vice President
REACHING THE STAFF
Kevin O’Grady
Irene Fincher Susan May
Rajeev Kapur Sanjay Tanwani Erik A. Lindgren
Michael J. Valenti
Editors can be reached via e-mail, fax, telephone, or mail. A list of editors and contact information is at www.hme-business.com.
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DME PHARMACY | April 2020
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