It’s ‘full speed ahead’ at Trace Medical 

WHITMORE LAKE, Mich. – Trace Medical now has both feet firmly in the biomedical services space, it has officially launched its myTrace asset tracking program and its ventilator rental business is “growing like crazy,” says Elliot Campbell. 

Trace Medical began offering biomed services earlier this year with its acquisitions of Medequip Service Solutions in Arkansas and Bio-One in Michigan. 

“This is our full speed ahead in the biomed space,” said Campbell, executive vice president and chief commercial officer at Trace Medical, “and we’re still having discussions with other suppliers.” 

Trace Medical is “on the back 90%” of the integration process with Medequip Services Solutions and Bio-One, Campbell says. 

The company believes it can be a major player in biomed by scaling its experience and use of technology in the ventilator rental space. 

“We’ve built a system that allows us to rapidly go through the process of checking in an asset and getting it back out to a customer,” Campbell said. “If we have all of the parts we need – emphasize if – we can turn around equipment in three or four days vs. two weeks. That means our customer’s equipment is back in the field generating revenue.” 

Trace Medial officially added myTrace to its technology offerings at the Heartland Conference in June to help its provider customers cut down on lost assets. The company says the average provider loses 8-10% of its inventory annually. 

“It’s a discreet GPS device that can be affixed to any high-dollar asset, and its battery lasts 10 years,” Campbell said. “We can set up a geofence, so they know when it leaves the home, the county, the state. It works off three different technologies, so it always gets a signal.”  

Providers are increasingly outsourcing services like biomed and rentals in the current high-friction, high-cost environment, Campbell says. 

“We’re adding vent rental customers every day,” he said. “The appetite for owning a vent is decreasing – it’s too expensive and there are too many issues, like the current recall. When we have a massive inventory behind us, our pricing is so aggressive, and we’ve built a better mousetrap – why own when you can rent?”