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Daniel Micic - Medical Shipment |
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August 7, 2017 Issue |
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CEOCFO MAGAZINE |
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Medical and Simulation Nursing School Training Supplies, Equipment and Simulated Drugs |
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Founder & CEO
Medical Shipment
Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – August 7, 2017
CEOCFO: Mr. Micic, would you tell us about Medical Shipment? Mr. Micic: Medical Shipment is a distributor of medical Supplies and equipment to educational institutions across the country. We specifically target nursing programs. That is our core business.
CEOCFO: Was that the original idea or did focusing in that niche develop opportunistically? Mr. Micic: I started the company by selling into the educations settings. My first sale was 80-cases of gloves to the biology department at my alma mater Harper College. I quickly grew my inventory and expanded sales across all departments. I saw the biggest opportunity for nursing and I really expanded out in that market. The nursing school first approached me about supplying hospital beds which I was able to promptly deliver. I continued to grow with supplying nursing programs from then on.
CEOCFO: Are there some products that are very specific to education and nursing or do they really need everything that most any other medical setting would need? Mr. Micic: Nursing schools only require simulation based products. So, we primarily supply nursing programs with foley catheter kits, dressing change trays, IV start kits, etc. We offer everything that you would see in a hospital setting except the equipment is not certified sterile. Education programs typically use unsterilized equipment to cut back on cost since sterilization is not required outside of a hospital setting. However, last year we came out with our own private label branded Medical Shipment products with sterile equipment. Now we can sell into both the educational and hospital market. We were approved by FDA compliance and UDI codes.
CEOCFO: Are you looking to make a big push into the hospital market or is it more that you want to have product available if they come to you? Mr. Micic: Yes, we are certainly looking to make ourselves known in the hospital market. This year we started expanding over from the educational programs into hospital markets. We are changing our tagline from education supply experts to medical supply experts in order to broaden our message to the entire market. We are also building our inventory to accommodate both education and hospital market demand.
CEOCFO: Why now? Mr. Micic: I feel like the company is in a really good place right now. Financially, we are in an unbelievable situation with zero debt. It is just the right time to make that leap into the hospital markets.
CEOCFO: How do you break into a market that seems to be somewhat restricted? Mr. Micic: I remember when I started out it felt like the odds were against me. I was trying to break into this competitive market at 20 years old and with little experience. I was competing with established supply companies who were cheaper or had more resources than I did. It ended up being my persistence that lead me to where I am. I convinced the number one medical dispensing unit company Pyxis to take a chance on me. We made a deal to sell fifty Pyxis units within the first year of business and we ended up selling over two hundred and fifty. My little two-person team was able to deliver five times what they asked. I have had an exclusive contract with Pyxis for over five years and each year it keeps getting bigger and bigger. The point is, back when I was a small two-person company I still had the confidence to reach out and competed for big business. Since I was able to deliver what was promised I made a reputation for myself in the medical supply industry.
CEOCFO: What about the timing in terms of this new administration and potential changes for business? Does that fit in or is it coincidental? Mr. Micic: Now is a great time to push forward in the world of business. I think President Trump is going to be a wonderful president for the small business arena. He is a guy who seems to get it. He understands what we need; taxes to be cut and regulations limited. We have already seen him take action to scale back regulations enough for the United States to grown and prosper in new business.
CEOCFO: Would you tell us about some of the challenges of keeping track of inventory, logistics, maybe returns? How are you able to use technology effectively and yet be available to your customers if they need you? Mr. Micic: Dealing with inventory is definitely one of our biggest challenges. There are so many factors that go into to keeping everything track. We luckily work with a great software program, Fishbowl, that tracks everything efficiently. We scan everything in, determine its value, and assign its location. But most importantly we have the right people in place to drive those efforts and have inventory run smoothly.
CEOCFO: What has surprised you as Medical Shipment has grown and evolved? Chuck Hansen: I suppose of just how far we have come already. People who know us don’t know what we were like the first four or five years. We certainly went through our hardships living on couches while we were building the company up to where it is today.
CEOCFO: How do you stay on top of new products, tweaks on products? How do you know when you should be carrying something? How do you now when you need to get rid of something? Mr. Micic: I really like to keep my ear to the ground to see where the market is going. For instance, gloves were a big thing this year because the FDA is trying to ban powdered gloves in the hospital market setting. So, suppliers are pulling back on their inventory and not purchasing anymore out of fear that powdered gloves will be banned. Sometimes when that happens you just have to write off the inventory and take the loss. You have to stay ahead of the curve, because so many people are allergic to the powder on the gloves the market has been trending away from using them. So, we looked ahead and move away from powder and latex gloves towards micro vinyl gloves which are expected to become a new standard. That is an example of how we have to stay ahead of the curve and anticipate demand.
CEOCFO: Do you see an international component in the future? Mr. Micic: Yes, I definitely intend on expanding globally. I am one hundred percent Serbian and I still have a lot of family in Serbia. When I was there last summer I went ahead and got all of the business documents that I would need to set up in Serbia. First, I will need to find the right location, find the right sales opportunities, and learn more about the medical market inside Serbia and Europe before expanding. But, it is all certainly in the works. Medical Shipment currently sells outside of the US to Canada and Mexico. We also have attended Canadian conferences and sponsored events. The plan is to eventually set up offices in those countries as well and continue to grow.
CEOCFO: Why should people choose Medical Shipment? Mr. Micic: When I first started Medical Shipment, I wanted the company to be able to bring extraordinary customer service to the educational marketplace. Then, when people started purchasing medical supplies from us as a result of our delivery and customer service I was over the moon. When we bring in a new customer we write a hand-written note. If a customer wants it, I will give them our sales rep’s telephone number. That way if at any time they have questions then they can reach out directly and get a quick straight answer. I wanted to set the high bar for customer service in the educational market setting. Now that we are moving to the hospitals I intend to bring that same dedication and service. Medical Shipment will bring extraordinary and wonderful customer services to every customer across the country and soon globe. |
“Medical Shipment will bring extraordinary and wonderful customer services to every customer across the country and soon globe.”- Daniel Micic
Daniel Micic - Medical Shipment
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Daniel
Micic
