In brief: CMS releases draft template, ATG picks up 13 locations
WASHINGTON - CMS on April 4 released a draft version of an electronic clinical template for physicians prescribing power wheelchairs. The template, intended for use during face-to-face exams, is a five-page outline of what CMS expects to see in physician documentation. CMS will give more details on the template and accept industry feedback during an Open Door Forum, 2 p.m. ET April 10. To view the template.
ATG Rehab picks up 13 locations in six states
ROCKY HILL, Conn. - ATG Rehab has acquired Louisiana-based Custom Holdings and its subsidiaries, Custom Healthcare and Gulf Coast Rehab Equipment, the company announced April 2. The acquisition adds 13 locations in six states serving more than 6,500 clients annually at 50 hospitals and rehabilitation facilities in the Gulf Coast region. This is ATG Rehab's sixth major buy since Audax Private Equity became a majority investor in January 2011.
No bonuses for Lincare execs
CLEARWATER, Fla. - Some top execs at Lincare did not receive cash bonuses last year, which significantly reduced their annual compensation. CEO John Byrne's total compensation was $968,770 in 2011, compared to $1.97 million for 2010. CFO Paul Gabos received a base salary of $467,423 and total compensation of $487,598. Shawn Schabel, president and COO, received a base salary of $623,541 and total compensation of $664,426. Lincare pays executive bonuses based on earnings per share. The company's 2011 earnings per share of $1.93 did not meet its goal of $2.15.
VGM seeks bid feedback
WATERLOO, Iowa - The VGM Group is asking providers that submitted bids in Round 2 to complete a confidential survey about category discounts, bid prices on key items, and capacity. The survey results will be compiled through an independent third party and used to estimate the submitted bids. The survey includes all 100 CBAs and the national mail order program. It can be found here.
PFQC: Fight the good fight
WATERLOO, Iowa - People for Quality Care (PFQC) will collect signatures from Medtrade Spring attendees committed to fighting competitive bidding. Attendees who sign the pledge will receive a badge ribbon that says "I'm Still Fighting" to wear during the show. PFQC's booth will be located in the show registration area. Also last week, PFQC announced that it helped more than 25 providers in several states get more than 1,000 beneficiaries and community members to sign letters to senators seeking a fair and accurate cost analysis of the market pricing program.
Compression therapy poised for growth
LONDON - The world market for compression therapy is expected to grow as chronic wounds increase, says a new report from GlobalData. The global market for compression therapy was valued at $2 billion in 2011, and is forecast to grow at a rate of 5% annually to reach $2.7 billion in 2018. GlobalData attributes the expected growth to a rise in diabetes and obesity, and a growing elderly population. Compression therapy products are used as a preventive measure against venous disease that can lead to chronic wounds.