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Pricey Fellow Entrepreneur,
Welcome to the Non-Emergency Medical Transportation Business, an business that’s actually rising by the day. How do I do know? As a result of the aged inhabitants is actually within the means of doubling and the medical business is experiencing enormous change.
Additional, I do know as a result of I began my first firm, a NEMT enterprise in 1999. Since then, I’ve assist and untold variety of transportation suppliers and entrepreneurs from all throughout the nation to develop, construct, increase and diversify their NEMT companies.
So what’s Non-Emergency Medical Transportation (NEMT)?
Also referred to as an ambulette service, NEMT is the transportation of individuals in wheelchairs, stretchers or these ambulatory who want help.
Do NOT be confused: That is NOT an ambulance service! That is strictly non-emergency transportation. You do NOT want any sort of particular life-saving expertise, coaching or tools!
Along with your NEMT service, you’ll transport individuals to and from medical appointments, out and in of hospitals, nursing services, or from residences to varied medical appointments.
And right here’s the best possible half…
Your two area of interest markets, the medical business and the aged inhabitants, are usually not simply rising, they’re exponentially booming!
The aged inhabitants is the quickest rising area of interest market on this planet – and it’s solely getting larger! By the yr 2030, the US aged inhabitants may have doubled, reaching in extra of 70 million!
The US well being care business is likely one of the world’s largest and quickest rising industries! By the yr 2016, the expansion of the US medical business may have consumed virtually 20% of our GDP!
Now severely, when you’ve got any sort of eager enterprise sense then these two statistics, the expansion of the aged inhabitants and that of the medical business, have gotten to excite you and acquire your curiosity!
However let’s talk about in additional element why beginning a NEMT enterprise is such an awesome funding for formidable, motivated entrepreneurs.
For starters, not often do entrepreneurs consider this sort of enterprise when in search of a enterprise alternative. Significantly, everybody is targeted on the get-rich-quick schemes and no cash down pie-in-the-sky goals of riches.
Significantly, when was the final time you heard somebody say “I feel I’m going begin a NEMT enterprise?” The very fact of the matter is you most likely haven’t. However you most likely know somebody, if not even your self, that has began some sort of “no cash down” actual property gig or another on-line pie-in-the-sky dream.
So realistically, we’re speaking a couple of enterprise alternative for which (1) your goal market is booming, rising sooner than any actual property market or some other market, and (2) not everybody is aware of about, not to mention considers, when trying to spend money on a brand new enterprise.
That is additional an awesome alternative is as a result of it’s a service-based enterprise. There are not any merchandise to purchase, retailer, ship or promote.
And once you comply with my methods for achievement, individuals shall be in search of you. They are going to be in search of your small business to fulfill the wants of their liked one.
In the event you put together and function your small business correctly, purchasers shall be looking for your service as a substitute of you having to repeatedly discover, chase and solicit clients!
As I did, and so many others, you possibly can actually begin your NEMT enterprise out of your front room desk, your own home workplace or storage. You’ll journey into your neighborhood to fulfill the wants of your purchasers. You don’t want a high-priced fancy workplace or an elaborate retailer entrance to encourage enterprise.
Give it some thought. What’s cheaper or more economical? Spend money on a automobile that goes out into and meets the wants of your neighborhood or spend money on actual property for a retail enterprise, franchise, or another conventional enterprise thought?
And once you begin a enterprise from dwelling, it undoubtedly limits your overhead bills which result in a BIGGER backside line and profitability!
Now that we’re speaking about profitability, let’s actually begin to speak about being profitable!
These are purchasers who usually pay “out of pocket” for transportation to and from medical appointments. This shall be a extremely worthwhile income for you.
There are lots of transportation suppliers who ONLY transport Non-public-Pay Shoppers due to the upper charges of reimbursement. For them, pursing different sources of income is just not price their time. They’re just too busy cultivating their Non-public-Pay purchasers.
Discuss FREE healthcare?! Medicaid recipients not solely obtain FREE medical advantages however, in keeping with Article 1915 of the Social Safety Act, recipients additionally get FREE transportation to and from their medical appointments!
However the excellent news for you, the transportation supplier, with Medicaid, relying in your State, you possibly can generate some critical reimbursement checks that you’ll love receiving within the mail – like clockwork!
Much like Non-public-Pay, there are some NEMT suppliers who ONLY service Medicaid purchasers. Why? As a result of if they’ve negotiated a very good contract with the Dealer the reimbursement charges are worthwhile.
|Staff Compensation Insurance coverage:
This reimbursement is for transporting individuals damage “on the job” who have to get to and from bodily remedy and associated medical appointments. Staff Comp is likely one of the few types of insurance coverage that reimburses for NEMT and might be an superior income that additionally pays extraordinarily properly.
Once more, some transportation suppliers ONLY cater to Staff Comp as a result of the reimbursements are simply that worthwhile! Staff Comp is a superb alternative.
Think about how worthwhile your small business might be when you may have a Non-public-Pay, Medicaid, and Staff Comp purchasers. The chances are limitless!
Hospitals are an superior alternative for your small business. They provide all kinds of NEMT alternatives. They supply Emergency Room discharges and “Basic” hospital discharges. Their inpatients require transportation to and from totally different remedy services, physician places of work, dialysis facilities, and different places of work outdoors the hospital.
Hospitals additionally require a substantial amount of supply and courier companies. Backside line, hospitals are an superior supply for which to safe contracts and repeat enterprise. They’re ALWAYS in want of transportation!
Nursing properties and unbiased residing services are a “staple” for the NEMT business. Why? As a result of they actually look after one in every of your most essential area of interest markets – the aged inhabitants!
Like hospitals, nursing services can give you some excellent transportation alternatives. You’ll transport residents to common medical appointments, dialysis therapies, bodily remedy and extra. You possibly can even accomplice with the Actions Departments to move massive numbers of residents for particular occasions.
There’s most likely no different income that’s extra predictable and secure than dialysis purchasers. I discuss with them because the “Golden Grail” as a result of they’re constant money-makers.
Sometimes, most dialysis sufferers should go to dialysis 3 times every week – and these medical appointments are obligatory! Therefore, one in every of many explanation why the NEMT business IS recession-proof. It doesn’t matter what the climate is, dialysis sufferers should get their remedy.
Whether or not Non-public-Pay or Medicaid, dialysis sufferers are at all times worthwhile. They provide quantity and regularity. Appointments are organized each different day and usually final between Three-Four hours. It is possible for you to to plan and rely on these transports and reimbursements like clockwork.
Relaxation assured Non-emergency Medical Transportation isn’t just for the aged. There are college students of all ages that want your help. Did you ever cease to contemplate how disabled college students get to and from college if they’ll’t trip a typical college bus? College districts want you!
With a NEMT enterprise, you possibly can actually contract with college districts and varied not-for-profit organizations to move college students of all ages.