As the president, founder, and owner of Meditech, Howie Bartz has continued to develop and transform the company since its creation in 2007. Under his leadership, Meditech has become a medical service company that seeks to provide both quality products and services. The turn-key programs for physicians generate substantial revenue.
Meditech supplies durable medical equipment like braces and conductive garments, compound pharmaceuticals, physical therapy systems, and urine site collection. Howie Bartz uses both his business skills and his scientific knowledge to develop products. He also created the Bartz Bracing Systems, a product line of specially designed back, knee, and neck braces, as well as TENS units.
Howie Bartz earned his bachelor of science in physical therapy from Daemen College, graduating summa cum laude. After graduation, Howie Bartz worked as a physical therapist for five years in two outpatient centers that he owned and operated. He then worked as an account manager for RS Medical from 2000 to 2007, where he was in charge of the sales and management of durable medical equipment.
Aside from physical therapy and his work with Meditech, Bartz is interested in stock and option trading, having completed both live and online coursework in these fields. In his spare time, he engages in theater, surfing, golf, travel, snowboarding, and tennis.
We recently got to sit down with Howie Bartz where he shared a bit about how Meditech came to be, as well as the strategies that have helped him grow this business into a success.
How did you get started?
After 7 years as an Account Manager at RS Medical, I decided it was finally time to start my own business.
At that point, I felt confident in my endeavors as my experience had helped me to develop deep relationships in the industry and a strong understanding of the Durable Medical Equipment business.
What inspired you to start this business?
The end goal was always to own my own business. While my pay and commissions at RS Medical were exceptional, I felt that I had hit the ceiling in terms of growth, both professionally and financially. This is what gave me the push I needed to go off on my own.
How does Meditech make money?
Meditech has operated with two revenue streams. One was B2B (business to business) and the other B2C (business to consumer).
The B2B model sold DME to medical providers such as hospitals and private practices.
The B2C model provided DME directly to patients.
How long did it take for you to become profitable?
I am proud to say that Meditech was profitable within 3 months. Profitability was achieved so quickly because I had prepared to hit the road running on day one.
I also had set up vendor and customer contracts with timetables in which there was minimal time for outstanding A/R.
When you were starting out, was there ever a time you doubted it would work? If so, how did you handle that?
I was always confident that the business would work but there were certain strategies and products that I doubted. I would often implement beta tests in which I would trial a product or marketing strategy for 60 days and then reassess the outcomes in great detail.
How did you get your first client?
Since I had 7 years of experience in medical sales, I knew of many physicians that were looking for improved products and services. I was fortunate enough to have developed trusting relationships with these physicians, and they were ready to work with me as soon as I was up and running.
What is one strategy that has helped you grow your business?
I have always sought clients and partnerships with people that share similar values and interests as me. From my experience, I have found that relationships between people with different core values don’t last long.
Spend time focusing on finding the right clients. Not only does it make for more enjoyable relationships, but it also sets you up for long-term success. Likeminded people tend to gravitate towards one another and then networking becomes easy.