Never underestimate the power of a good
night’s sleep, or the revenue opportunities of sleep therapy products as they
continue to evolve. While providing sleep therapy solutions requires investment
and clinical resources, it also offers considerable opportunity given the
growth of the marketplace.
The sleep industry has seen dramatic changes over the past years: Despite
the impact of competitive bidding, market data suggests that the industry
is growing as it finds more and more undiagnosed patient populations. The
sleep disordered breathing market is increasing with an annual growth rate
of between four to six percent (depending on which market research firm
you read), but in order to stay tapped into this growth you must supply your
patients with the most cutting-edge products.
When it comes to the fundamentals of sleep business success, embracing
technology is of the utmost importance. The industry has become more
connected and data-driven as a reflection of the world as a whole. Patients
are more inclined to buy a product if they can use a smart phone app to track
their nightly data and connect with their physician. Moreover, referring
physicians and other sleep therapy professionals want that level of connected
care. Providing that puts sleep-therapy HMEs in an advantageous position.
Comfort is another key to success in both compliance within the market.
Patients that need assistance in breathing while sleeping will go with the
provider that has a selection of devices and re-supply items that will help
them rest peacefully and without fuss. Stocking products that ensure a sound,
comfortable night’s rest creates customer relationships that will last a lifetime.<