Most medical supplies are bought from niche companies, so it is quite possible for a small independent medical supply business to find success in this industry.
All types of medical professionals, from veterinarians to midwives and eye doctors, need specific supplies to do their jobs. Most medical supplies are bought from niche companies that specialize in a certain type of equipment. Though there are many large medical supply companies, it is quite possible for a small independent medical supply business to find success in this industry. If you’re looking to start a retail business and would like to work in the health care industry, consider starting a medical supply company.
Because Indian Pharmaceutical and Medical device industries are regulated by Central Drugs standard control Organization i.e CDSCO control over Manufacturing of medical device in India, it follows GMP rules to set QMS in the Manufacturing unit.
Following are the steps that help you to set up medical device company in India:
1. Project Feasibility Study & Report.
2. Layout Preparation as per cGMP Norms.
3. Guidance for Equipment Procurement.
4. Equipment Validation.
5. Cleanroom Design and Validation.
6. Documentation and Training.
7. Guidance During Audit.
8. Indian FDA Licensing, ISO 9001, ISO 13485, CE Marking
and US FDA- 510(k) Clearance
Target a niche and target market for your medical supply business. For example, you can sell supplies to home health aides, midwives, dentists or nursing homes.
Contact your state’s public health department or medical board to find out if you need to be licensed to sell the types of medical equipment you’re interested in carrying. This is not required for all medical suppliers, except those specializing in specific types of equipment.
Obtain the permits required in your city and state to start a retail business. This may include a sales and use tax permit, resale permit, assumed name certificate, or dong business as, or Employer Identification Number.
Lease a commercial warehouse that is temperature-controlled to store your inventory. Your storage facility will need to be clean and free of dust to prevent your supplies from becoming contaminated. Alternatively, a clean spare room or large closet that you dedicate solely to storing inventory would be suitable.
Establish wholesale accounts with distributors of medical equipment suitable for your niche — buying wholesale is necessary to make a profit. Distributors can be found online, in phone books and business directories. You will likely need to provide business documentation and order a minimum dollar amount to open a wholesale account.
Offer incentives for medical professionals to patronize your medical supply company. For instance, you can offer discounted or free shipping, free delivery within your local area or volume discounts.
Market your medical supply business to medical professionals, especially those within your city. Send flyers and coupons, sponsor medical conventions or health fairs, and send news releases to local medical associations and professional groups.