January has been a mixed bag for the air ambulance industry. However, there have been some great wins for the sector. The most important was the refusal of the federal government to concede to the demands of Wyoming where the state sought to regulate the air ambulance industry. The battle (exerts feel) was between the medical flight service providers on one side and the insurance as well as the state government on the other. Ultimately, the federal government had upheld the independence of the air medical flights. For the industry, the verdict was a welcome development moving into the new decade.
Air Ambulance Companies Continue to Shut Down
The latest casualty was a Bozeman medical flight company. The air ambulance industry has been trying hard to make money in the face of the insurance industry simply refusing to change the reimbursement rates. The company in question, as it shut down, revealed that this was the primary reason why it was forced to take the step. However, on the brighter side, the area is still being serviced by another air ambulance company. This means the people of the region continue to have access to emergency medical services when flying is critical for the patient’s survival.
Sheridan Memorial Hospital too discontinued its air ambulance services. The reason cited was the fact that it was simply financial unviable to maintain a service like that. It has been revealed that the institution found the loss-making too much to continue on the path.
The Outlook for the Air Ambulance Industry is Good
The air ambulance industry was valued at a whopping US$ 4,524.7 million in the past year. The expectation is that the industry will see a CAGR of over 9.3 percent till the year 2027. The fuel to this growth has been strategic initiatives such as collaborations and partnerships.
