September 30th marks the one year anniversary of our official exit from the Medicare / Medicaid provider system. It was an incredibly hard decision to make, not to mention the stress of wondering “did we make the right decision?”
Well, the answer is yes. While our revenue went down by the percentage of customers we could no longer service, our overall profit margin (and health of our company) increased. Don’t get us wrong. By no means are we rolling in the dough! We have always kept our margins much lower than other providers in our area, and of course we pass that savings on to our customers.
In the spring of this year, another opportunity presented itself, and had we still been Medicare / Medicaid providers, we may not have been able to take advantage. We were able to expand our business by purchasing Laurel Uniforms & Apparel. This opportunity allowed us to diversify and expand our product offering. It also added a convenience to our customers who purchase both medical supplies AND medical scrubs. We are a one stop shop!
While the face of our customer demographic may be changing, we still hold true to our company principals. Offer the best products at the lowest possible prices with outstanding customer service.
We still get phone calls from customers needing Medicare / Medicaid covered products, and we happily refer them to other companies in the area. And once in a while, a customer still stops in to say hello, even though they can no longer get their products from us.
In this economy we consider ourselves one of the lucky few that can actually say that we are growing. We are very proud of this, especially since we took a huge leap of faith.
We would like to thank all of our customers for sticking with us through our transitions during the past year. Like any rollercoaster ride, now that its over we can say “wow, what a ride”!
Friday, October 1, 2010
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