The NEMT industry is constantly evolving. With a constant shift in trip numbers, it is difficult to quantify the industry. Still, it can be broken down into several categories. Here are some of them. The first category consists of taxi services. It is the largest segment. It is expected to grow to more than $200 billion in the next ten years.
The second category consists of transportation brokers. These companies are relatively new and have already completed more than eight million trips in 2019. They are a good entry point for those who want to start a company in this niche. Some of these companies have recently launched, including Veyo. They have operations in California, Arizona, Connecticut, Florida, Louisiana, Michigan, and Virginia.
In addition to taxi services, TNCs, healthcare companies, and other organizations are actively seeking to secure NEMT work. Many of these firms hire independent driver-providers, which allows them to realize a larger portion of the Medicaid revenue. NEMT brokers also have a strong position in the market.
The NEMT industry is divided into many types. There are private pay patient transportation, insurance-backed patient transportation, courier services, transportation management, transportation optimization, and special assistance services. Private pay patient transportation is considered a specialized cab service, and can be booked with a simple phone call. Whether a patient needs a ride to a hospital or a clinic, a NEMT broker can get them where they need to be.
Emerging markets offer lucrative growth opportunities for NEMT companies. In the coming years, NEMT services will grow in countries such as the Middle East and Asia Pacific. These countries are investing heavily in the healthcare sector and have a rapidly aging population. This means that a lot of people in these areas will need regular doctor’s visits or weekly checkups.
Medi-Cal, also known as Medicaid, provides coverage for NEMT services. The program is funded by the state and covers about 33% of the population. According to Medi-Cal regulations, providers must provide NEMT services to Medi-Cal patients who can’t use standard forms of transportation. Therefore, the demand for NEMT services is expected to increase as more Medicaid recipients become eligible for the program.
The non-emergency medical transportation industry is growing rapidly. These services are especially important for patients with chronic conditions and can help improve health outcomes. The industry will grow faster if government reimbursement policies improve. But it’s also facing challenges from unfavorable policies. On-demand ride sharing services are now entering the market.
The Non-Emergency Medical Transportation Accreditation Commission is the only organization in the country that has established standards for NEMT providers. NEMTAC certification allows providers to prove that they meet high standards of service. In addition to offering certifications, NEMTAC offers advanced education and training in the field.