Hyperbaric Oxygen Therapy is a revolutionized medical procedure that helps accelerate the tissue regeneration process and fasten the healing process utilizing oxygen. The application of this medical treatment consists of high risk and should only be undertaken in consultation with a medical practitioner. A requirement for this treatment is a hyperbaric chamber where the treatment takes place.
The unasked question that comes with all kinds of business is whether it is profitable or not. The same goes for the business of Hyperbaric Chamber business. The therapy of hyperbaric treatment has been popular and caught everyone’s attention for all the right reasons. Once someone realizes how many diseases it helps to cure, entering this business will appeal to many.
Before heading headfirst into the hyperbaric chamber business, prepare a business plan. One of the most significant parts of the business will be to acquire the best types of equipment to provide quality service. It is hard to secure such high-end equipment, but do not worry. At oxyhelp.com, you will get all the equipment to kick-start your hyperbaric chamber business.
The hyperbaric chamber is also known as a decompression chamber in its most basic form. It is a tubular metal or plastic tunnel-like tube, big enough to accommodate one or more people. It’s supplied with an access door that holds its lock under high pressure. A compressor pump lets in the air, an alternative breathing solution, or oxygen, which is then permitted to enter through pressure tanks.
Global Market Scenario
There has been an increase in investments in the healthcare sector in regions of North America and parts of Pacific Asia. The government is making a steady investment in the medical industry to provide the public with good health facilities, especially after the global pandemic of Covid 19.
The availability of advanced medical technology and the medical infrastructure to adapt to advanced treatment in North America have accelerated market growth for the hyperbaric chamber business.
The hyperbaric chamber has shown potential business growth in developing countries like India and China. The awareness regarding hyperbaric therapy is rapidly growing. Many countries are interested in availing of this medical treatment in their regions to treat decompressive sickness.
The increased frequency of long-term and acute injuries with post-surgical infectious diseases is pioneering the worldwide hyperbaric treatment market. The increased frequency of chronic and acute disorders that cause diseases are also aiding the market’s growth. Aside from that, the sector is likely to benefit from increased medical tourism.
Things To Plan Before Starting The Business
The hyperbaric treatment chamber market is complicated and often crowded, making it tough to study and select the best marketing strategy for your client’s demands. There is a lot of opportunity for firms and industries to get involved with the hyperbaric chamber industry.
A position near hospitals and healthcare institutions would provide a strategic location for a hyperbaric chamber business. Joining numerous business organizations is also a good idea. Customers and insurance companies who use the hyperbaric chamber treatments will pay any price for the quality of services.
Role Of The FDA In The Business
Something that is not commonly recognized is that the identical marketing constraints that apply to the chamber’s maker also apply to the device’s user. Any injury treatment clinic that uses a hyperbaric chamber is allowed to advertise its services. The advertisements should follow the grounds mentioned in the FDA’s parameters. Any other indication for marketing a hyperbaric treatment chamber is deemed off-label and hence prohibited.
The FDA has created a precedent by issuing warning letters to businesses that advertise for off-label purposes. It has never been a problem for hospital-based or surgery center treatment facilities, although it is becoming more of a concern among independent, non-hospital-oriented hyperbaric therapy clinics.
How To Secure Business?
Hyperbaric oxygen therapy must not be performed without a doctor’s approval and should only be performed, under the guidance of a medical practitioner. Individuals starting this profession should ideally possess prior expertise in a closely connected subject, such as respiratory and pulmonary care. They are also frequently a team in multiple separate but connected areas. Staff also needs to be well trained.
Networking with individuals and organizations who can recommend individuals to a hyperbaric therapy clinic is the best approach to gaining clientele in this industry. Wound care facilities are among the best healthcare provider groupings to associate with an HBOT company. Another example would be organizations dealing with underwater catastrophes when emergency patients require a rapid oxygen supply.
Requirements To Meet
A health center is susceptible to more strict standards when it concerns certification. Ensure that you have investigated all of the relevant offices to visit to fulfill all of the criteria. As this treatment will be therapy, it would likely continue for a certain period.
Adopt a customized program or method for such treatment to be productive and effective. Depending on the ailment being treated, the treatment might take anything, between a few hours to several days. A group of healthcare specialists should thoroughly discuss and design this schedule. The hyperbaric therapy is inside an enclosed room that could accommodate one (monoplace) and perhaps more people (multiplace).
A chamber will set you back well over $100,000. The business would also require a steady supply of oxygen. Building a separate room to keep the treatment container and reception accommodate patients would also be required. The area should have a washroom where patients can change into gowns appropriate for the operation.
It is a substantial proof treatment that has been discovered to heal and lessen the severity of injuries, infections, and radiation side effects. The percentage of recovery rate in patients who finish the treatment suggested by their doctors varies between 85 – 95 %.
Many medical disorders can be treated by hyperbaric oxygen therapy. The majority of diabetic foot wounds that won’t go away are typical illnesses for which people seek remedies. Non-healing or complicated surgical wounds such as skin grafts, as well as late-radiation treatment injuries. It is wise to enter into the hyperbaric chamber business but you need to have a well-researched plan for it.