Driving Loyalty and Revenue Through Equipment Protection Plans
A variety of pressures are compressing revenues across the spectrum of HME, but providers can implement a key solution to address that.
HME providers are facing historic challenges to their business models which are impacting their revenues and could threaten their viability over the long haul. Increasing customer loyalty while maintaining overall margins will be essential to thriving in this rapidly evolving environment.
Many providers have adopted retail handily, but factors such as increased product costs, supply chain pressures and workforce challenges are expected to continue into the foreseeable future. Also increasing competition from national retailers with significant buying power, such as Walmart, Amazon, CVS and Walgreens, will drive price competition and thusly margin compression.
While HME providers have an unquestionable advantage with regard to product knowledge and patient trust, they must even the playing field by figuring out how to deliver competitive prices, while ensuring outstanding service and support.
The solution: offering patients protection plans on their product purchases. This webinar will explore the value of protection plans to patients, as well benefits such as additional upfront revenue, repair service income and overall customer satisfaction. We will also explore how a robust, well-designed protection plan program can differentiate a provider, help close sales and eliminate margin erosion.
Learning objectives:
- Understanding what equipment protection plans are and how they work
- Why equipment protection not only drives loyalty, but benefits patient care
- How they impact the top and bottom line of HME providers’ businesses
- How to seamlessly integrate and implement equipment protection plans in your business
Date: Tuesday, April 26, 2022
Time: 2:00 p.m. (Eastern) / 1:00 p.m. (Central) / 11:00 a.m. (Pacific)
Duration: 1 hour
ABOUT OUR SPEAKER
Sean Stapleton serves as Chief Executive Officer of MedGuard Protection Plans, LLC (“MedGuard”) and its parent company U.S. Medical Equipment Consultants, Inc. (“USMEDIC”). MedGuard helps HME providers establish and manage their protection plan programs, thereby enabling HME providers to offer protection plans to their customers. MedGuard’s protection plans provide peace of mind for customers and vital revenue for HME providers. USMEDIC has been a leading provider of enterprise equipment maintenance solutions to the healthcare and medical research communities since 1994.
QUESTIONS
The webinar concludes with a live Q&A session.
CERTIFICATE
A certificate of attendance is available for all individuals who register and attend the full webinar (live or on-demand).
ACCESS
All registrants will have access to the live event and an on-demand recording of the presentation. If registrants want to watch the presentation again or have a scheduling conflict, they can register and access the on-demand version of this webinar, which will be available after the live event.