Forty More Years!
Our members continue to discover opportunities to grow in the equipment space. All markets are still recovering from the pandemic, but we are seeing an upward trend of dollars being spent on updating facilities and furnishing new offices/buildings. We believe this trend will continue as more people get back out and see their physician or take loved ones back to nursing homes, schools, rehab facilities, etc.
EMERGING MARKETS Repertoire: Can you comment on any emerging markets that spell opportunity for IMCO and its members? McLaughlin: Home care, telemedicine, government facilities, urgent care centers, many primary care specialties and outpatient surgery centers are all areas of growth due to the shift in care settings because of the pandemic as well as shifts in reimbursement. We continue to monitor these areas and help our members target these settings with new vendor partners and services.
PRIVATE LABEL Repertoire: Please describe IMCO’s involvement in private-label products. McLaughlin: IMCO Brand products continue to be a key line of high-volume, low-cost products designed to give our members a competitive advantage in the field. Exclusive to IMCO members, the portfolio of IMCO Brand products continues to grow and shift as the market dictates. It was no surprise that sales far exceeded all expectations last year on PPE, and we are still working to
replenish inventory. Sales today of IMCO Brand are a small percentage of our total sales, but the value and importance of these particular product categories are significant.
WHAT’S AHEAD Repertoire: What are the greatest opportunities for IMCO and its members? McLaughlin: Keeping our members competitive with national distributors remains our No. 1 objective. As national competitors make changes in how they service their customers, we believe independent distributors have a tremendous opportunity to solidify and gain market share. In addition to growing their top line revenue, we are also committed to providing more opportunities for our members to save on expenses through our business resource programs for insurance, shipping, credit card processing and other day-to-day operational costs. We are working to further expand their market share through our Vital Link resources, which includes helping them develop and execute a digital marketing strategy, including e-commerce, and a complete databank for our portfolio of products. One of the biggest benefits of IMCO is the shared experience and knowledge of our member and vendor partners. We work hard to foster relationships and build a community that will provide a strong future for all in the medical industry. IMCO is founded on the belief that the independent medical distributor is a vital link in the healthcare supply chain, and we are committed to their success.
Made in Asia For years, IMCO has provided its members a sourcing program enabling the purchase of products directly from manufacturers in Asia. IMCO distributors relied on the program during the pandemic, with some members even collaborating on container buys. But now, like all U.S.-based distributors and providers, they are questioning the wisdom of relying so heavily on foreign-made products.
22
August 2021
•
www.repertoiremag.com
“During the pandemic, member usage of this program increased,” says IMCO President and CEO Bill McLaughlin. “But backorders for gloves, masks, gowns and many other critical items were estimated to take months, which was unacceptable. “We are finding a higher level of interest in domestic production, but price remains paramount. The industry’s move to import dominance for cost savings to improve competitive
position has left us all too dependent on imported products. It will take some time for expectations to reset to allow more domestic product.” Meanwhile, import product costs have dropped to nearly pre-pandemic levels on some items, creating new inventory issues for distributors who still hold large quantities of products purchased at much higher costs, he says. “We have been focusing efforts on helping to solve these situations.”
