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Home Medical Equipment Rentals - Industry Market Research Report

  • July 2016
  • -
  • Ibisworld
  • -
  • 30 pages

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Limping along: New Medicare bidding process slashes industry prices and profit margins



Abstract

Home Medical Equipment Rentals

Over the past five years, the Home Medical Equipment Rentals industry has contracted, even while a growing senior population and expanded health insurance coverage have driven increased demand for its services. Since Medicare's introduction of a competitive bidding process for home medical equipment, providers have received lower prices for their rentals, cutting into profit margins from their largest market and constraining revenue overall. This program will likely continue over the next five years, and may even be expanded to Medicaid, preventing the industry from recovering the profit margins it obtained a decade ago. However, prices are expected to reach their trough over the next five-year period, and the industry will again achieve growth through the exit of unprofitable companies, layoffs and restructuring.

This industry rents devices that are designed to aid in the diagnosis, monitoring or treatment of medical conditions to individuals in their homes. Examples include respiratory and mobility aids such as oxygen tanks, crutches and wheelchairs. The industry also rents hospital beds for home use. Operators in this industry do not rent medical equipment or beds for use outside of homes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.



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