One of the most lucrative industries today is healthcare. From home healthcare services to medical equipment rentals, there are nearly 8 million people in the United States alone who receive some level of home care. A study conducted by the National Association for Home Care & Hospice revealed that home health care is now a $60 billion industry. Whether the patients require long-term care for chronic or terminal illnesses, support and services for disabilities or short-term rehabilitation following an illness, accident or surgery, there are many reasons why these individuals would require medical equipment rentals throughout the term of their home healthcare service.
If you are thinking about launching your own equipment rental business, the healthcare industry is a great place to start. Keeping track of your inventory, making sure you stay on top of what equipment has been delivered to which client for billing and tracking reasons, is an important part about running a business that focuses on medical equipment rentals.
Custom service stickers from professional sticker printing services can help. Interactive sticker features, such as scan-able QR codes, barcodes and serial numbers are a great way to track inventory and let clients know how to get in touch with your for additional rentals or to exchange equipment throughout their rehabilitation.
Begin by sitting down to write out a plan. Decide what type of medical supplies you will want to specialize in or if you want to carry the most popular, top selling products for a more generalized type of service. Think about how you will deliver the products to your customers. Not every client will be able to come to your office to pick up their rentals. In fact, most will be unable to come into your shop and will likely take care of business over the phone.
Setting Up Your Business…
The next phase of planning will involve where you will be leasing out your medical equipment rentals. Will you open office space or rent warehouse space to hold all of your inventory? You need to make sure that there is enough room for your delivery truck to load up all of the equipment and space for any clients that do come to your location to park and get inside.
Keep track of your inventory by using the interactive sticker features that can be built-in to your custom service stickers when you go through professional sticker printing services like Nameplates For Industry’s Sales & Service Stickers Division when you set up your medical equipment rentals business. QR codes, barcodes, serial numbers – sequential or custom – can all be used to create your own unique tracking system to stay on top of your products and accounts.
Check with your city or county to find out what type of licensing and permits you will need to run this type of business. Speak with a lawyer about setting up a business structure, such as an LLC, or incorporated structure. Make sure to have legal contracts and forms created to use with your rentals or leasing services. Check local pricing on similar medical equipment rentals and set your price structure appropriately. Make sure to get commercial business insurance for you, your equipment, your employees, your vehicles and anything else that needs to be covered.
Purchasing Medical Equipment…
There are a couple of ways to go about purchasing the equipment that you will rent or lease out to customers in your business. Search for wholesale suppliers and get pricing on the items you want to purchase for your medical equipment rentals. Do a search online to find similar businesses that are selling overstock items or are going out of business. Sometimes you can get great deals on wheelchairs, hospital beds and other items that can be used for many years without needing to be replaced.
Remember to get custom service stickers that can be used to identify ownership of your medical equipment and provide customers with contact information that can be used to return rented equipment, rent additional equipment, get repairs or maintenance and request upgrades of equipment when needed. Ask about various interactive sticker features that can be used to enhance your business and provide you with more control.
Take time to learn all you can about the different types of medical equipment that you need to purchase for your medical equipment rentals business. Some brands, types and styles will be more helpful to your clients than others. Seemingly insignificant differences between brand A and brand B can give you an advantage over your competition. Make sure to have a truck that is large enough to easily transport and deliver the largest items on your list.
Using Custom Service Stickers for Medical Equipment Rentals
There are lots of ways that sticker printing services like the Sales & Service Stickers Division at Nameplates For Industry can help brand new businesses that deal in medical equipment. For more information about our products or to learn about our aggressive adhesive and interactive sticker features, give us a call toll-free at 855-510-4634 or use our online contact form.