Tag: Home modification
LifeWay Mobility gets PE boost
July 1, 2021HME News Staff
HARTFORD, Conn. – Lifeway Mobility has received a “significant” investment from Cressey & Company, a health care focused private equity firm.
“Welcoming Cressey & Company is especially exciting and gratifying for me,” said Tim Burfield, Lifeway’s chairman. “We’ve built two other leading companies with Bryan Cressey and his team over many years. They are outstanding partners and true healthcare innovators.”
Lifeway is a provider...
Tax credit could be boon for home modifications
September 22, 2017John Andrews
The home medical equipment industry is poised to benefit from the “aging in place” movement, especially on the home modification front. If Congress approves a proposed $30,000 tax credit for seniors to modify their homes, it could serve as motivation for more HME providers to enter the business, manufacturers say.
Currently being considered in the U.S. House of Representatives, the Senior Accessible Housing Act (HR 1780) would “amend the Internal Revenue Code of 1986 to provide...
Making the case
August 28, 2017Liz Beaulieu, Editor
On potential need
“We're going to have 8.3 million people over 80 in 2030,” said Jim Greatorex, vice president of Accessible Home Improvement of America, a division of the VGM Group, “and we have homes for less than half of them that they can be safe in and live in and thrive in in their senior years.”
On potential savings
“For 75% percent of people over 65 who go to the ER, the cause of their visit is a slip or fall, something home modifications can help...
Group sets off movement for home modifications
July 7, 2017Liz Beaulieu, Editor
WASHINGTON - A bill in the House of Representatives that would give seniors a $30,000 tax credit for modifying their homes to help them age in place now has some firepower behind it.
A new group called HomesRenewed has been created, in part, to help raise awareness for the “Senior Accessible Housing Act,” which was introduced in late March by Reps. Charlie Crist, D-Fla., and Bruce Poliquin, R-Maine.
“H.R. 1780 is a starting place to make this a national issue,” said...
Take home mods by the reins
January 27, 2017Liz Beaulieu, Editor
WATERLOO, Iowa - Look for an amped up presence from The VGM Group's Accessible Home Improvement of America in 2017.
Jim Greatorex, formerly of VGM's Retail Services division and before that the owner of an HME company that worked with local contractors on home modifications, took the helm of AHIA in December.
“This is a really good opportunity for providers,” said Greatorex, vice president of AHIA. “The home modifications market is going to be faster growing in the...
Category box: Home accessibility
September 25, 2012John Andrews
UNCHARTED TERRITORY
Reconsidering ramps: Ignored by mobility providers for years as a potential add-on cash business, the time may now be right to explore the retail opportunities of home accessibility. Though the business component is a little outside the provider's comfort zone, manufacturers contend it doesn't take much to get acclimated.
GROWING DEMAND
Business 'boom': The need for home accessibility will become even greater as the baby boom generation ages and needs...
Find your way to accessibility business
September 25, 2012John Andrews
Home accessibility—which includes the sale and installation of ramps, lifts and retrofitting of mobility customers' homes—is a logical and potentially lucrative business for HME providers. Yet this segment has been largely ignored by the industry, despite its natural compatibility. The age-old question is: Why?“Our experience is that HME providers shy away from home accessibility for two reasons: It is definitely a different business method than retail, and it requires an installation...
Accessibility: Use every square foot
September 25, 2012Megan Schmit
A. Your showroom is one of the strongest tools you have to impact your customers. First, understand that accessibility is not an additional product category. It is comprehensive. You always find salsa next to the chips. The point is: You should be looking at the total sales you could add to each transaction, even if you have to condense the variety of your merchandise.One of the most common ways to quantify the performance of your selling space is using sales per square foot (total net...
Accessibility: Know your competitive advantage
August 24, 2012Megan Schmit
A. Accessibility isn't a linear subject; rather, you have to think about all aspects around your customers' needs and how they define accessibility. Once you commit to becoming an accessibility provider, it's simply a matter of identifying what your competitive advantage is. Former CEO of GE, Jack Welch says it best, “If you don't have a competitive advantage, don't compete.”With the growth of this market over the next decade, it's imperative to distinguish your business from the rest....
Life Access projects $3.3M in earnings in 2009
September 30, 2009Mike Moran
AKRON, Ohio - Robert Gurinowitsch discovered the home modification business by accident, but since hanging out his shingle in 2006, there's been nothing accidental about his growth, which has averaged 15% to 20% a year.
"It's been steady," said Gurinowitsch, a former insurance restoration specialist with a long background in construction. "We kept around 1,500 people home last year from going to care facilities, and the year before that it was 900 or so."
Gurinowitsch expects his company, Life...