Recent FDA Regulations Present New Opportunity for HME Providers!

Posted on: May 1st, 2014 by Rob Baumhover

 

HME Retailers,

This week’s post comes to us from our very first guest blogger Mariah Griffith of BioMedical Life Systems, a manufacturer for portable electro-therapy devices and accessories for over 30 years. Mariah has been with BioMedical Life Systems, Inc for 12 years and in the Medical Device industry for 14 years.   She has extensive experience in the subject of electrotherapy, pain management and medical devices.  Her most recent work includes the launch of BioMedical Life Systems, Inc’s  first retail product, the Rebound® Health OTC TENS unit.  The Rebound® Health TENS unit was awarded an Innovative Retail Product award at MedTrade Spring 2014 and has rapidly catapulted the company into the forefront of the retail medical device arena.

Electro-therapy devices, as well as many other pain management products have become an increasingly popular product category for a wide range of consumers. These customers are realizing they no longer have to live with pain, and risky surgeries and expensive medications aren’t their only options for treatment. As an HME Retailer, offering these types of products can provide your customers with a variety of treatment options, and also boost your bottom line!

See what Mariah has to say about the benefits of these pain management devices below. To check out all the services and products BioMedical Life Systems has to offer, click here

 

New reasons to consider the many benefits of electrical stimulation devices.

It is estimated that nearly half (47% ) of Americans reported having at least one type of chronic pain condition and that nearly 5 billion pain pills were prescribed in 2011. With the increase of prescription pain medication consumption and the increase of addiction associated, the FDA is now recommending a tightening of controls on patient access to these pain pills to take effect as early as 2014. Currently, consumers are spending approximately $2.6 billion annually on over-the-counter pain medications and the new regulations will add to the demand. What does your pain management offering look like today and how could it be enhanced in to meet an ever growing need?

Three reasons to consider expanding your pain management product offering to include neuromuscular electrical stimulation:

1.Approximately half of the population suffers from a chronic pain condition, and those numbers are on the rise. (47% in 2011). If you were to take all of the diabetic population, COPD sufferers, Sleep Apnea patients and wheelchair users in the United States combined (approx. 25-27%) and double it, that number would be the approximate size of the pain management market.

2.There are many product offerings available to the DME provider in the pain management arena. Electrotherapy devices/TENS units, hot and cold packs, laser therapy, bracing, paraffin baths, foot baths and massage devices are merely a few examples of this expansive DME category.

3. People are willing to pay to relieve their pain, creating a lucrative retail opportunity. Americans spent about $2.6 billion in over-the-counter pain medications annually, and this number is growing.

People with pain probably need, or will need in the future, the other products and services your DME provides, for example, as they age they will probably need walkers, canes, wheelchairs, bath safety equipment, etc. Many diabetic patients have neuropathy, and many of the elderly have arthritis. Focusing on pain relief solutions provided by electro therapy devices creates a unique opportunity to cross-sell your other products and services and to create a customer for life.

When considering what sectors to focus on in 2014, consider the dollars that Americans are spending on over-the-counter pain medications and the vast consumer base and growing market demand. Further look the movement in recent years to more homeopathic remedies such as electrical stimulation. Consider that patients with pain will probably be your customer for life.

Are you ready to handle consumer pain management questions and supply the products they need to help aid in their recovery? All factors indicate that the demand is growing for this lucrative niche market and we just need to be ready for it. Contact BioMedical Life Systems today for more information on our award winning electrical stimulation devices for pain management.

Article Contributed by: Mariah Griffith
Vice President, Sales and Marketing
BioMedical Life Systems, Inc.

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