For as long as we live in a civilized, industrious, and interdependent economy, the need for various forms of transportation will always be essential. For this reason, one of the most enduring transportation opportunities for the future is the medical transportation industry. Why – because the medical industry is rapidly growing in size and scope coupled with an elderly populations that is literally booming.
The demand for medical transportation is growing to such a degree that it is more than a local or regional issue. Rather, it is very much a national issue. Many states and local municipalities are having a difficult time trying to meet the transportation and healthcare needs of the growing elderly population.
Consider the following excerpt from a recent news article in upstate New York which writes:
The Herkimer County Legislature will vote next week to award a contract for the provision of non-emergency medical transportation to Birnie Bus Service.
Twenty-one bid packets were mailed out and the bid from Birnie Bus Service was the only one received. Budget Office and Purchasing Agent Bernard Decker said a follow-up was sent to agencies that received packets and did not submit a bid to gauge why they were not interested in the contract.
“The general consensus from the responses that were returned to my office was the agencies were not equipped to fully handle the demand forthe contract,” he said.
He added the county currently contracts with Birnie Bus Service to provide Non-Emergency Medical Transportation.
Why the interest in this article?
First, this county is actively seeking to bid their Medicaid transportation and no one is “equipped to fully handle the demand?” Twenty-one packets went out and the ONLY one to respond is the company that is currently providing services? Now that screams opportunity!
Second, Herkimer is not New York’s biggest county for sure – roughly 65k – 70k in population. But because they are the only company seeking to take advantage of this opportunity, Bernie Bus Service can essentially “name their price.”
Third, this article underscores the great opportunity that exists in the NEMT industry. Some such opportunities may not be as obvious as this Herkimer example with little to no competition. But any level of completion doesn’t negate the opportunity sitting in front of you due to the growing medical industry and elderly population.