What is Non-Emergency Medical Transportation
Arranging a different car for the patients may not be possible, specifically for the low-income group. This is where Non-Emergency Medical Transpiration proves helpful. The easy accessibility of Non-Emergency Medical Transportation provides people with chronic problems to get life-surviving treatment and healthcare amenities without delay. It is an effective option to reach appointments without missing because of issues of transportation and fuel cost.
Segmentation based on service type
Depending on the service, the NEMT market is bifurcated into courier service, insurance-supported patient transportation, and pay-patient transportation. The private pay patients hold the most significant market share here. The other advantages of private pay patient transportation involve the ability to travel in off and on-peak seasons along with regular hours, custom NEMT prices of reimbursement, etc.
Segmentation based on the application
Depending on the application, the NEMT market is divided into periodic checkups, mental health-related visits, dialysis, rehab, and more. Majorly, mental health-related visits and rehabs contribute to this segment.
The NEMT market players choose organic tactics like a product launch and growth to enhance their footprint and product portfolio worldwide and meet the rising demand. The inorganic development measures involve collaborations and partnerships.
Trends
- In 2021, Modivcare acquired nuVizz’s WellRyde technological work. The company offered Advanced Transportation Management Systems software supporting streamlined routing, automatic trip assignment, billing, and live network monitoring.
- In 2022, MTM completed the acquisition of Veyo to acquire an aggregate yearly revenue of $1 billion. The company offers 20 million trips yearly to around 16 million people.
Major Driving Factors
The factors driving the NEMT market include the following:
- The rising necessity for non-emergency medical vehicles.
- An increase in chronic diseases.
- A rise in the geriatric population.
Other factors include the increasing aging population and the immediate need to gain medical access. Also, factors like awareness to spend more on healthcare and rising knowledge about NEMT solutions have worked towards the rising demand of this market.
Conclusion
Having reliable and reasons transportation to and fro medical venues has always been a significant problem that drives the demand for NEMT services. The major market players are doing everything to make it easier for the people.
Author's Detail
Kalyani Raje, LinkedIn
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.