Boost Efficiency and Preserve Assets: Streamlining Repairs with Outsourcing and Tracking

Published in Member Communities on September 26, 2023

Elliot CampbelBy Elliot Campbell, EVP and Chief Commercial Officer, Trace Medical

Respiratory devices play a crucial role in healthcare, but they are not immune to wear and tear, occasional malfunctions, and the need for maintenance. Beyond that, on higher dollar respiratory devices, the average provider is unable to retrieve 8%-10% of their high value inventory per year. As a provider, you’re probably not shocked by these statements. Your business can alleviate the burden of maintenance and repairs on respiratory equipment and also substantially reduce the loss of high value assets each year through outsourcing.

The average provider is unable to retrieve 8%-10% of their high value inventory per year

Alleviate Repair and Maintenance Woes

It’s no secret that patients are hard on providers’ assets or that respiratory devices are intricate and occasionally fail. Hence the reason very few providers repair their own advanced respiratory equipment. Whether you offer ventilators, CPAPs, or oxygen equipment, you probably know that there is no reimbursement on service work on these products. Outsourcing your biomed services is a common solution that helps alleviate asset downtime while increasing revenue from already owned products.

Let your service and delivery department focus on revenue generation and delivering product.

If your company is a full-service respiratory provider, keeping up with all updates on every make and model of every piece of respiratory equipment is time consuming, laborious, and nearly impossible. Outsourcing repairs and maintenance may make better financial sense. Let your service and delivery department focus on revenue generation and delivering product, rather than on repairs that impact your ability to support your patients. Let knowledgeable, factory trained staff repair equipment and perform firmware updates, software updates, and assist with product recalls.

To support our customers and working closely with VGM, Trace Medical is rapidly expanding our biomedical footprint to offer a more efficient, less expensive biomedical solution to the market. Trace Medical’s provider partners and patients deserve to have their assets repaired quickly, affordably, and by experts in the field. Trace stands behind our work and offers a one-year warranty for all parts and labor for the services we render.

One-Year Warranty

The response from providers and manufacturers has been tremendous, and Trace’s expansion coincides perfectly with the recently announced exclusive agreement for biomedical services with VGM. Trace’s goal is to change the way biomedical services are done. Currently, Trace is supporting ventilators, portable oxygen concentrators, CPAPs, BiPAPs, humidifiers, and other “shippable” respiratory items via our strategically located regional offices. The biomed work is completed by factory trained technicians. Once the work is completed, the assets are returned to the customer or even directly to the patient.

Tracking High Dollar Assets

Does your company ever struggle to recover high value assets like Portable Oxygen Concentrators (POC), Negative Pressure Wound Therapy (NPWT) devices, or even ventilators? Trace has partnered with the TONE Knows to develop a small, discreet GPS device that
can be affixed to any high value asset. The device, aptly named “myTrace,” has a 10-year battery life that allows providers to know where their devices are and can even send notifications via email or text if the device exits a pre-determined geo-fence.

Developing technology that helps Trace’s customers more cost-effectively run their business is very important to Trace. Trace appreciates that providers operate on razor thin margins. If Trace can assist them in reducing their lost assets, then we take significant pride in doing so.

Eliminate the soft cost of searching for lost assets and the real costs of replacing lost assets.

This new asset tracking solution automates the location monitoring of high dollar assets. Instead of having your employees manually track asset location, you can eliminate the soft cost of searching for lost assets and the real costs of replacing lost assets.

READ THE FULL ARTICLE HERE

VGM Playbook Business Solutions to Optimize Success in DMEPOSThis article was originally featured in the VGM Playbook: Business Solutions to Optimize Success in DMEPOS. To read the full article and more like this, download your copy of the playbook today


TAGS

  1. playbook
  2. repairs
  3. respiratory
  4. vendor
  5. vgm

From Our Experts

The Role of DMEPOS in Value-Based Healthcare thumbnail The Role of DMEPOS in Value-Based Healthcare Explore how DMEPOS providers contribute to value-based care by enhancing patient outcomes, reducing costs, and promoting healthcare transformation. VGM Expands Expertise with Industry Consultants thumbnail VGM Expands Expertise with Industry Consultants VGM & Associates is excited to announce the expansion of its VGM Professional Services team with the addition of Steve Baker, Brian Bersano, & Tonya Williams. A Data-Driven Approach to Unlocking Growth in the HME Industry thumbnail A Data-Driven Approach to Unlocking Growth in the HME Industry Discover how to enhance your HME business growth with data-driven strategies with actionable tools and resources. VGM & Associates Launches “IM: Unfiltered” Podcast Series thumbnail VGM & Associates Launches “IM: Unfiltered” Podcast Series VGM & Associates is proud to announce the launch of its new podcast series, IM: Unfiltered, created with members of the VGM community in mind. This dynamic new series delivers candid conversations, expert insights, and timely updates that matter most to home medical equipment (HME) providers. Expanding Your DME Offerings for Breastfeeding Awareness Month thumbnail Expanding Your DME Offerings for Breastfeeding Awareness Month Discover how DME providers can celebrate Breastfeeding Awareness Month in August 2025 by expanding their offerings to include mother/baby products. Key Insights from MedPAC's July Data Book for DME Providers thumbnail Key Insights from MedPAC's July Data Book for DME Providers Learn about the evolving Medicare landscape, the impact of an aging population, and the shift towards home healthcare from MedPAC's July 2025 Data Book. Announcing the Finalists for the 2025 O&P Woman of the Year Award thumbnail Announcing the Finalists for the 2025 O&P Woman of the Year Award OPGA is thrilled to announce the finalists for the 2025 O&P Woman of the Year Award. These remarkable women will be honored during the AOPA National Assembly, taking place on Thursday, Sept. 4, at 9:50 a.m. in the Product Preview Theater (PPT) within the exhibit hall. Revolutionizing Independent Living: How Smart Home Technologies Are Reshaping Accessibility thumbnail Revolutionizing Independent Living: How Smart Home Technologies Are Reshaping Accessibility As the global population ages and the demand for accessible housing accelerates, smart home technologies are emerging as essential tools, not just for convenience, but for safety, autonomy, and well-being. Today's smart products, like Autoslide's automatic door systems and Yale's smart locks, are more than gadgets. They are assistive technologies designed to empower people with limited mobility.