Do you want to start a medical transport franchise but lack ideas? If YES, here are 10 best medical transport franchise opportunities for sale and their cost.
When people need medical attention but are incapable of transporting themselves, as with some elderly people or the disabled, they rely on medical transport companies to get them to the clinic, treatment facility or hospital. Medical transportation companies provide safe and quick transportation for non-emergency situations.
Medical transportation businesses thrive because the United States population is aging rapidly with the first baby-boomers already going over 65 years. In the United States, the population of people aged 65 and above is projected to increase from 12.4% in 2000 to 19.6% in 2030.
The number of persons aged 65 years and above is expected to increase from approximately 35 million in 2000 to an estimated 71 million in 2030, and the number of persons aged 80 years and above is expected to increase from 9.3 million in 2000 to 19.5 million in 2030.
10 Best Medical Transport Franchise Opportunities for Sale and the Cost
- Medex Patient Transport
This transport service is a medical transportation company that specializes in transporting patients and the elderly. They pride themselves in providing fast and friendly customer service. Their customers are allowed to cancel at any time with no questions asked and no setup/termination fees requested either. Medex creates a business model that works in the geographic area of their franchises, and they also give them marketing and sales support from day one.
- Initial Investment: $105,015 to $155,240
- Royalty Fee – 5%
- NEPAT Transport (Non-Emergency transportation)
NEPAT Inc. is a Non-Emergency Professional Accessible Transportation that offers the most reliable non-emergency transportation services in North Carolina.
Their services include providing transportation for adult day cares, for accident victims, taking patients for post-surgery visits, taking patients home after discharge from hospital, inter-facility transfers, senior transportation, routine medical and dental visits. The transport agency is now expanding its system of operation in non-emergency accessible transportation services through a franchise network.
- Initial Investment – $150,000 to $350,000
- Initial Franchise Fee – $30,000
- Royalty Fee – 8%
- Advertising Fee – 2%
- Express Medical Transporters Inc. (EMT)
Express medical transporters Inc. is a non-emergency transport service that was founded in 1995 by its President/CEO, Bernard A. Squitieri. Mr. Squitieri started the company with one vehicle and over 25 years transportation experience to his advantage.
Today, Express Medical Transporters, Inc. is the largest for-profit non-emergency transportation company in the state of Missouri. By completing thousands of trips per year and with more than 150 vehicles on the road, Express Medical Transporters, Inc. is able to provide the very best in price, quality and efficiency when it comes to transportation anywhere in Missouri.
- Initial Investment – $175,000 to $242,000
- Initial Franchise Fee – $45,000
- Royalty Fee – 4% to 5%
- Advertising Fee – up to 2%
- Caliber Patient Care:
Caliber Patient Care is a non-emergency patient transportation company specializing in safe and reliable wheelchair transportation. They offer a complete line of transportation services including non-emergency ambulatory service, wheelchair transport, and stretcher transport.
All their services come with a standard “Bedside-to-Doctorside” level of care. By minimizing reliance on insurance and transportation brokers’ discounted trips, Caliber offers a high-dollar, high-revenue model with significant growth.
- Liquid capital required – $70,000
- Net worth required – $100,000
- Investment – $55,000 to $100,000
- Franchise fee – $30,000
- Caring Man In a Van
Caring Man in a Van is a non-emergency transportation company that provides transportation for different categories of patients and seniors. Their services include; Ambulatory, that is Non-medical transportation for those able to walk on their own or with the driver’s assistance.
The drivers take them to appointments, social events, or any other location they wish to travel; Non-emergency Wheelchair Van transport for those in need of getting to an appointment or social event; and Non-emergency stretcher transportation for those unable to sit upright for medical or comfort reasons, are bedridden, and who are not in need of medical attention during transport.
This company is a Health Care Service Provider owned and operated in New Zealand that equally runs a medical transportation service. The transportation division offers door-to-door, on demand, pickup/drop-off service, 7 days a week, and 365 days a year.
They operate a fleet of multi-purpose vehicles equipped with wheelchair hoists, providing wheelchair transfers and patient transportation for medical appointments, sight-seeing, airport and cruise-line transfers for the aged, infirm and disabled.
7. HomeWell Senior Care is at the forefront of one of North America’s fastest growing industries. HomeWell Senior Care offers a ground floor opportunity within the booming non-medical transportation and home care industry.
- Liquid capital required – $75,000
- Investment – $75,000 to $120,000
- Franchise – fee $40,000
- Units in operation – 46
- Comfort Keepers
This business provides in-home care for the elderly and other adults who need assistance in daily living, including homemaker/companionship care, personal care, personal technology services and transportation services. In addition, certain qualified franchisees may also offer approved minimally-invasive private duty nursing services.
- Liquid capital required – $45,000
- Net worth required – $200,000
- Investment – $66,010 to $99,390
- Franchise fee – $45,000
- Units in operation – 617
- Caring Senior Service
Jeff Salter, founder of Caring Senior Service saw a need for non-medical home care services for seniors, so in 1991, he started Caring Senior Service in Odessa, Texas. The company expanded with several more locations throughout Texas before beginning to franchise nationwide in 2002. The company offers a variety of in-home care services, including personal care, companionship, meal preparation, non-emergency medical transportation, respite care, errand running and housekeeping.
- Initial Investment- $58,585 to $107,450
- Liquid Cash Requirement – $50,000
- Initial Franchise Fee – $35,000
- Ongoing Royalty Fee – 5%
- Ad Royalty Fe – 2%
Interesting Statistics About the Non-Emergency Medical Transportation Business
Statistics has it that about 3.6 million Americans miss or delay medical care services simply because they lack appropriate means of transportation to catch up with their medical appointments. So also, the average low – income earners in the United States Americans lack the disposable income necessary to have access to a working automobile, and as a result of that may lack transportation options to get to and from medical appointments which is why
Medicaid provides a non – emergency medical transportation benefit that pays for the least expensive and suitable way of conveying people to their appointments whether by taxi, van, public transport or mileage reimbursement.
As a matter of fact a large percentage of people with chronic health conditions, such as arthritis, asthma, cancer, cardiovascular disease, chronic obstructive pulmonary disease and diabetes et al, would need medical care services on a regular basis. Statistics has it that the treatment of chronic conditions account for three-quarters of all United States healthcare expenses.
For instance, in 2009, the Centers for Disease Control estimate that 78% of the adult population age 55 and older has at least one of these chronic conditions. In addition, it was projected that states will add more than a half million adults who have serious behavioral health issues that impair their everyday functioning to the Medicaid population. These people of course will need the services of Non – Emergency Medical Transportation to access life sustaining treatments and health care services et al.
It is important to categorically state that a large percent of the 20 million adults with chronic kidney disease who are undergoing dialysis three times a week, non – emergency transportation services providers is a reliable way to transport them to their appointments and so as to avoid going to the emergency room if appointments are missed.
So also, Statistics has it that 66 percent of dialysis patients rely on others for transportation to their appointments, only 8 percent depend on public transportation or taxi services, and 25.3 percent drove or walked to the clinic themselves.
The Non – Emergency Medical Transportation Services industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, France, Australia and Italy et al.
Envision Health care is one of the leading players in the industry. Statistics has it that in the United States of America alone, there are about 16,928 licensed and registered non – emergency medical transportation providers responsible for employing about 200,048 employees and the industry rakes in a whooping sum of $15bn annually with an annual growth rate projected at 1.1 percent.
Non – emergency medical transportation services or ambulance services as it is popularly called is yet another thriving and profitable business that an entrepreneur who is interested in making money from the healthcare industry should consider starting.
This trend would lead to a lot of people requiring transportation when needing to go to hospital and other essential places because most of them are prevented from driving due to certain health conditions. The medical transport business also achieved popularity because the US government pay seniors transport benefits, and those who don’t receive these benefits are willing to pay their way too. It should be noted that some senior care facilities also provide medical transportation as part of their service offerings.
The medical transportation industry is still coming up and as such there is still room for more investors. If you want to own a medical transport business through owning a franchise, here are 9 profitable medical transport franchises you can look into.