Electromed develops and sells the SmartVest Airway Clearance System, an FDA-cleared medical device that delivers High Frequency Chest Wall Oscillation therapy to help patients with compromised lung function clear mucus and secretions without caregiver assistance. The company operates a direct-to-patient business model, managing patient referrals from clinicians, processing insurance claims, and capturing manufacturer and distributor margins—rather than selling through traditional home medical equipment channels. Revenue is generated primarily through homecare patient placements reimbursed by private insurers, Medicare, Medicaid, and other payers at rates typically around $15,000 per device, with a smaller but growing hospital market segment for single-patient-use garments. The system is primarily prescribed for bronchiectasis, cystic fibrosis, and neuromuscular conditions, and Electromed competes against three main competitors while differentiating through clinical evidence, product design, and direct patient service.