While the business of providing diabetes products
and services has seen its fair share of obstacles — competitive bidding
Medicare funding, private payer cuts, audits, customer retention, and
the problem of low-quality devices on the market — it still serves a critical
The population of adults living with diabetes has quadrupled since 1980,
growing to 422 million people, according to a report from the World Health
Organization. A separate study by the Health Care Cost Institute showed that
spending for children with diabetes who are covered by employer-sponsored
insurance grew faster than any other age group. Clearly, there is a need for the
devices just based on how many people in the United States must have them.
So how do diabetic supply providers keep ahead of these market trends?
Their best bet for fostering business growth is to stock a wide variety of
diabetes-related products that help you serve patient’s spectrum of needs.
Manufacturers are doing a great job of providing products that cater to every
aspect of a diabetic person’s life. Good examples of related products would be
items such as compression socks or diabetic footwear.
In addition to stocking up a well-rounded group of products, be sure to
educate consumers on what the latest offerings are and how they can help
them manage their condition. Learn about the customer and find out what
their top concerns and priorities are, then assist them in finding the product
or products that works best for them.