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Why NOW is the Best Time to Get into the NIV Business

Published in Respiratory & Sleep on April 11, 2022

There is currently a large opportunity in the respiratory market for non-invasive ventilation (NIV). Is your business taking advantage of this opportunity?

Who should get into the vent business?

DME providers that serve respiratory patients such as Oxygen or CPAP patients would be good candidates to look at a program such as NIV to better serve their patients in the community. DMEs will need to have Respiratory Therapists involved with the patient care coordination but could work with a telerespiratory company such as rtNOW to assist with follow-up telehealth visits.

To figure out if NIV would good for your business, take a look at the NIV Profitability Calculator that our experts in VGM Respiratory have put together.

DMEs can distinguish themselves apart from their competitors by accepting these patients and measuring patient outcomes by using Encore Healthcare. Encore Healthcare is a software that helps build individual care plans to monitor patient outcomes to reduce hospital readmissions and reduce healthcare spend.

What resources are available to help?

Many DMEs have not gotten into this business before due to cost of ownership issues, perceived lack of staff, and also fear of improperly billing audits. VGM Respiratory has put together many resources to help DMEs get into the business. DMEs can utilize Trace Medical to rent the equipment and rtNOW for telerespiratory assistance for vent follow-ups and vent checks.

The Members Only portal at vgm.com has a plethora of resources available to our members under Forms & Documents including profitability calculators, education materials for your staff, vent checklists from The van Halem Group, policies & procedures, a Home Ventilation Management Program guide, and a guide for using End-Tidal CO2 to identify patients who benefit.

If you’re concerned about the documentation requirements, The van Halem Group can help. The van Halem Group’s team of expert clinicians can review provider documentation prior to dispensing to determine if all coverage requirements have been met, reducing the risk of claim denials or overpayments. These prescreen reviews are designed to not only provide valuable information, but can also be used as an educational tool for referral sources. As an independent clinical reviewer, The van Halem Group’s recommendations and clinical insight will benefit referral sources

If you have questions about NIV or are interested in discussing this opportunity further, contact your VGM account manager.

TAGS

  1. business development
  2. reimbursement
  3. respiratory
  4. software
  5. telehealth
  6. the van halem group

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