None of the so-called experts knows exactly how Obamacare is going to play out in the United States medical business community or who the ultimate winners and losers will be.
But here’s a prediction that I feel 100% sure about: The opportunities for medical manufacturers to make money in Asia Pacific and the Middle East are better than ever.
Obamacare doesn’t affect my business because I don’t sell any medical equipment products in the U.S. I joke that I wouldn’t know how to sell a stethoscope to a doctor in Florida, but I do know how to sell medical equipment in the Philippines, Thailand, and Australia.
The distribution channels in the U.S. are totally different than they are in Asia. The U.S. has purchasing groups and contracts and dealer organizations. There’s a lot of collusion and, I think, limits as to how much money you can make.
Some hospitals say, “Well, everything we buy is 2% over cost. Deal with it. That’s how we buy.” And they buy so much, and they have so much power, they can set the rules.
There is no such cooperation or coordination in Asia. Which makes my job easier and the potential for profits much higher.
You ask a medical equipment company how much they’re going to increase their U.S. sales this year,, and they wince when they say, “single-digit percentages.” Single digit, and they’re happy with that!
The potential for growth is much higher in Asia.
If the medical equipment company is doing nothing in Asia, even a single sale can move the needle, percentage-wise. If a company did $100,000 last year in Asia and I grow that business to $500,000, percentage-wise, that’s incredible growth. Can U.S. manufacturers expect that kind of percentage growth in the U.S., ever? Nope.
Expanding your business to growing markets in Asia and the Middle East is a great way to insure your business against the uncertainty at home as the new U.S. health care system unfolds.
Let’s talk about how I can help you capitalize on those new opportunities.