Hello to everyone in the Million Dollar and Broker communities! As always, I hope this message finds you all doing well and business is booming!
I know bad things will never happen to you or me, always to the "other guy" because we're all invincible. But let me share with you three different scenarios with associated guarantees that I have and continue experiencing in the NEMT industry:
Situation 1: Earlier this year I was literally called to testify as an expert witness to discuss the "true" valuation of an NEMT business. Sadly, one of two business owners passed away in his sleep due to a heart attack in 2016. This case went to trial in April of this year and, under oath, I had to explain how the expectations and valuation performed on behalf of the widow and her legal team was ridiculously inflated. Fortunately, my client won, but realistically, there were NO winners in such a situation. The entire situation was a lose-lose for everyone.
Guarantee 1: You will not experience such a situation with a broker business because (1) you don't need a partner to start, (2) you are a "cash rich and asset poor business" and, thus, don't have to fight over assets, contracts, or projected valuations.
Situation 2: I have been retained to serve as an expert witness for another case to go to trial in February of 2019. An NEMT vehicle carrying a passenger was T-boned by a passenger car. The NEMT driver was fine, but the passenger riding in a wheelchair sustained neck, back, and knee injuries. In addition to suing the vehicle the struck the NEMT vehicle, the passenger is also suing the NEMT company claiming the passenger was not properly restrained and, thus, was exposed to undo risk.
Guarantee 2: You will NEVER experience such a lawsuit in your broker business because (1) you are not transporting people, (2) you utilize contractors and not employees, (3) your contractors own their own vehicles/equipment versus you, (4) your contractors carry their own insurance policies versus you, and (5) if someone damages possessions versus people, who cares! That's all replaceable at a much, much, much cheaper and hassle-free price!
Situation 3: I was recently contacted by an attorney on behalf of their client to serve as an expert witness. One of their client's drivers took a hospice patient home who was expected to live for a few more months. To properly transfer the patient in the home, the oxygen had to be disconnected and then reconnected to their own machine. The patient died the following day versus a few months later as predicted by the doctors. The family is now suing the NEMT provider claiming that the lack of oxygen connection is what led to the patient's "premature" passing. I'm still learning of the details in this case, but so far it sounds ridiculous as well.
Guarantee 3: You will NEVER experience such a lawsuit in your broker business because (1) you are not transporting people, (2) you will never deal with oxygen or anything remotely considered to be essential to preserve life, and (3) if someone damages possessions versus people, who cares!
Let me be clear, your broker business has nothing to do with the NEMT industry and, thus, you are never exposed to potential problems/risk as explained in Situations 1-3 (and many others that I won't waste your time in sharing. You get the idea).
Everyone knows I love the NEMT business as I have literally been in the industry for closing in on 20 years. Everyone knows the demand for NEMT is continuing to grow. But bottom line, I am making more "hassle-free" and "easy-money" than I ever made in my NEMT business. Numbers never lie and the business model speak for itself.
Some people have indicated they are not interested in starting their own broker business because they are focused on NEMT. Trust me, I can appreciate the dedication. However, if you are beyond a one dimensional mindset, if you can build multiple businesses at the same time, and if you want diversify and make more money, then definitely visit us at https://www.youarethebroker.com to learn more and enter your information to get started.
We look forward to partnering with motivated, like-minded entrepreneurs to help us grow our network that not has Licensees in 26 states and growing!
See you at the Top!
Joel E. Davis | 
