how to get a medical supply business certificate for starting own medical supply business?

Question

i would like to start a medical supply business, but dont know how any suggestions??? How do I get an application for a national number. Any suggestions

Answer 1

By business certificate, are you referring to a business license or incorporation paperwork, or are you referring to state certification to operate a business selling medical supplies, or are you referring to certification from a national supplier to resell their products locally?

There are a lot of variables:
For example, if you are dealing with radio-pharmaceuticals you would need to work with the Department of Energy, the Drug Enforcement Agency, the Environmental Protection Agency and your State Board of Medicine. However, you might not necessarily need licensure from all of them.

For example, if you are simply reselling beds, raised toilet seats, surgical tubing, gauze, etc. then some municipalities require only a standard business license. If you deal with items which require prescriptions, such as pulse oximeters, then you would need to be licensed to sell them and you must maintain the records while adhering to HIPPA regulatory compliance. This is generally a state license.

A good place to start would be your State Board of Medicine and the American Medical Association. While you may find that competitors in your area are somewhat aprehensive to helping you, you might find colleagues in areas further away who would be willing to consult and guide you.

In addition, S.C.O.R.E. (Service Corps of Retired Executives) may be willing to provide some guidance and assistance. They may also save you your life savings as you will discover that the medical supplies business requires a lot of high-dollar inventory which may sell with a single digit margin.

Many hospitals purchase from large suppliers or even the manufacturer. So, if you think you will make a bunch of $$ by landing a hospital account, you will be fighting an uphill battle.

Then there is the whole you have to bill insurance and wait for them to pay. If someone purchases a $4000 bed, Medicare pays $3000 of it, and it cost you $3800, you are in the hole that $800. While I certainly love little old people, Social Security does not provide enough money for them to pay their bills, let alone pay the $800 balance.

My advice, if you haven't ever sold medical equipment, get a job as a sales rep for a medical equipment store (check for a non-compete clause) and see if this is really what you want to do for the rest of your life.

Answer 2

1

Answer 3

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some trade publication links:

http://www.homecaremag.com Homecare Magazine
http://www.hmenews.com HME News
http://www.hhcdealer.com Homecare Dealer
http://www.myhomehealthline.com Home Health Line
http://www.homecaremonday.com Homecare Monday
http://www.eliresearch.com Eli's Home Care Week

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 4

Hope this helps!