$2M/Year NEMT doing only stretcher/gurney hospital discharges | NEMT Experts Podcast Episode 72
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Mike Borom runs a unique and highly profitable NEMT business model -- his company Ambiance Medical Transportation only does stretcher/gurney trips and only does hospital discharges. In this episode of NEMT Experts, we hear the details of how Mike has been able to figure out and implement this lucrative NEMT business and operational model.
Top 3 Takeaways:
- A Niche, On-Demand Model Can Be Highly Profitable: By focusing almost exclusively on on-demand stretcher trips for hospital discharges and other facilities, Ambiance Medical Transportation has tapped into a lucrative market. They command higher per-trip revenue ($230 for an average seven-mile trip) compared to the standard Non-Emergency Medical Transportation (NEMT) model that often relies on low-margin brokered wheelchair and ambulatory rides.
- Success in This Niche Requires Operational Sophistication and Flexibility: The on-demand nature of their business means that most of their daily trips are not pre-scheduled. This requires a robust dispatch system and a flexible mindset to manage a constantly changing schedule in real-time. As Mike Borom explains, they often have to juggle patients between vehicles to keep up with unpredictable hospital discharge times and potential delays.
- There is a Significant Untapped Opportunity in Competing with Ambulance Services for Non-Emergency Discharges: Borom highlights that a large percentage of hospital discharges that currently utilize more expensive ambulance services could be handled by NEMT providers at a much lower cost. He argues that many in the NEMT industry are not structured to capitalize on this because they are not profitable enough to provide the high level of service and reliability that hospitals require, creating a "huge opportunity waiting to be taxed."
top 3 quotes:
- Mike Borom: "We try to go where nobody else wants to go because it's difficult."
- Mike Borom: "To convince an entire industry that, hey. You need to look at whether you're really making money for the long term as a company, okay? And you wanna be in this business in the long term, or you wanna be in it for like three, four years? And then go outta business."
- Mike Borom: "The hospital wants to know where their vehicle is. So the facility user portal that we use, we use it with a bunch of our best paying hospitals. And our aftercare centers."
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