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Dear Fellow Entrepreneur,
Welcome to the Non-Emergency Medical Transportation Industry, an industry that’s literally growing by the day. How do I know? Because the elderly population is literally in the process of doubling and the medical industry is experiencing huge change.
Further, I know because I started my first company, a NEMT business in 1999. Since then, I have help and untold number of transportation providers and entrepreneurs from all across the country to grow, build, expand and diversify their NEMT businesses.
So what is Non-Emergency Medical Transportation (NEMT)?
Also known as an ambulette service, NEMT is the transportation of people in wheelchairs, stretchers or those ambulatory who need assistance.
Do NOT be confused: This is NOT an ambulance service! This is strictly non-emergency transportation. You do NOT need any kind of special life-saving skills, training or equipment!
With your NEMT service, you will transport people to and from medical appointments, in and out of hospitals, nursing facilities, or from residences to various medical appointments.
And here’s the absolute best part…
Your two niche markets, the medical industry and the elderly population, are not just growing, they’re exponentially booming!
The elderly population is the fastest growing niche market in the world – and it’s only getting bigger! By the year 2030, the US elderly population will have doubled, reaching in excess of 70 million!
The US health care industry is one of the world’s largest and fastest growing industries! By the year 2016, the growth of the US medical industry will have consumed almost 20% of our GDP!
Now seriously, if you have any kind of keen business sense then these two statistics, the growth of the elderly population and that of the medical industry, have got to excite you and gain your interest!
But let’s discuss in further detail why starting a NEMT business is such a great investment for ambitious, motivated entrepreneurs.
For starters, rarely do entrepreneurs think of this kind of business when looking for a business opportunity. Seriously, everyone is focused on the get-rich-quick schemes and no money down pie-in-the-sky dreams of riches.
Seriously, when was the last time you heard someone say “I think I’m going start a NEMT business?” The fact of the matter is you probably haven’t. But you probably know someone, if not even yourself, that has started some kind of “no money down” real estate gig or some other online pie-in-the-sky dream.
So realistically, we are talking about a business opportunity for which (1) your target market is booming, growing faster than any real estate market or any other market, and (2) not everyone knows about, let alone considers, when looking to invest in a new business.
This is further a great opportunity is because it is a service-based business. There are no products to buy, store, ship or sell.
And when you follow my strategies for success, people will be looking for you. They will be looking for your business to meet the needs of their loved one.
If you prepare and operate your business properly, clients will be seeking your service instead of you having to continuously find, chase and solicit customers!
As I did, and so many others, you can literally start your NEMT business from your living room table, your home office or garage. You are going to travel into your community to meet the needs of your clients. You don’t need a high-priced fancy office or an elaborate store front to encourage business.
Think about it. What’s cheaper or more cost effective? Invest in a vehicle that goes out into and meets the needs of your community or invest in real estate for a retail business, franchise, or some other traditional business idea?
And when you start a business from home, it definitely limits your overhead expenses which lead to a BIGGER bottom line and profitability!
Now that we’re talking about profitability, let’s really start to talk about making money!
These are clients who typically pay “out of pocket” for transportation to and from medical appointments. This will be a highly profitable source of revenue for you.
There are many transportation providers who ONLY transport Private-Pay Clients because of the higher rates of reimbursement. For them, pursing other sources of revenue is simply not worth their time. They are simply too busy cultivating their Private-Pay clients.
Talk about FREE healthcare?! Medicaid recipients not only receive FREE medical benefits but, according to Article 1915 of the Social Security Act, recipients also get FREE transportation to and from their medical appointments!
But the good news for you, the transportation provider, with Medicaid, depending on your State, you can generate some serious reimbursement checks that you will love receiving in the mail – like clockwork!
Similar to Private-Pay, there are some NEMT providers who ONLY service Medicaid clients. Why? Because if they have negotiated a good contract with the Broker the reimbursement rates are profitable.
|Workers Compensation Insurance:
This reimbursement is for transporting people hurt “on the job” who need to get to and from physical therapy and related medical appointments. Workers Comp is one of the few forms of insurance that reimburses for NEMT and can be an awesome source of revenue that also pays extremely well.
Again, some transportation providers ONLY cater to Workers Comp because the reimbursements are just that profitable! Workers Comp is a great opportunity.
Imagine how profitable your business can be when you have a Private-Pay, Medicaid, and Workers Comp clients. The possibilities are limitless!
Hospitals are an awesome opportunity for your business. They offer a wide variety of NEMT opportunities. They provide Emergency Room discharges and “General” hospital discharges. Their inpatients require transportation to and from different treatment facilities, doctor offices, dialysis centers, and other offices outside the hospital.
Hospitals also require a great deal of delivery and courier services. Bottom line, hospitals are an awesome source for which to secure contracts and repeat business. They are ALWAYS in need of transportation!
Nursing homes and independent living facilities are a “staple” for the NEMT industry. Why? Because they literally care for one of your most important niche markets – the elderly population!
Like hospitals, nursing facilities can provide you with some outstanding transportation opportunities. You will transport residents to general medical appointments, dialysis treatments, physical therapy and more. You can even partner with the Activities Departments to transport large numbers of residents for special events.
There is probably no other source of revenue that is more predictable and stable than dialysis clients. I refer to them as the “Golden Grail” because they are consistent money-makers.
Typically, most dialysis patients have to go to dialysis three times a week – and these medical appointments are mandatory! Hence, one of many reasons why the NEMT industry IS recession-proof. It doesn’t matter what the weather is, dialysis patients have to get their treatment.
Whether Private-Pay or Medicaid, dialysis patients are always profitable. They offer volume and regularity. Appointments are arranged every other day and typically last between 3-4 hours. You will be able to plan and count on these transports and reimbursements like clockwork.
Rest assured Non-emergency Medical Transportation is not just for the elderly. There are students of all ages that need your assistance. Did you ever stop to consider how disabled students get to and from school if they can’t ride a typical school bus? School districts need you!
With a NEMT business, you can literally contract with school districts and various not-for-profit organizations to transport students of all ages.