'Clear mission' says Greenleaf
With one full financial quarter under his belt, BioScrip President and CEO Dan Greenleaf says the company is reinvigorated and on track to right itself.
“We’ve got a highly engaged organization that is very clear about the mission of the organization,” said Greenleaf, who took the reins in September after several disappointing quarters for the company. “We aren’t firing on all cylinders yet, but I would submit we are firing on most.”
A key tenet of BioScrip’s turnaround plan is zeroing in on its core home infusion business, including antibiotic, immunoglobulin and nutritional therapies, among others, Greenleaf says.
The company can’t be all things to all people, he says.
“Our philosophy is we are the best in terms of caring for those patients,” he said.
BioScrip acquired Home Solutions in September and completed its integration in the fourth quarter of 2016.
“The Home Solutions acquisition was a home run for the company and I think we overachieved on our synergies and our integration targets,” he said.
BioScrip could entertain future acquisitions, but its main priority right now is implementing its CORE initiatives (see related story), Greenleaf says.
BioScrip is joining other providers in getting a fix for the payment gap for home infusion created by the 21st Century Cures Act. Greenleaf says the government can be short-sighted when it comes to reimbursement.
“They only look at what is the reduction in drug costs,” he said. “They don’t look at, if we reduce the drug cost by this much, what is going to happen to the patient? It expands the number of people seen in hospitals, in long-term acute care and in skilled nursing facilities.”
Despite the challenges, Greenleaf is optimistic about the future of the home infusion industry. With hospital capacity lowering, 10,000 people per day turning 65 or older, and the proliferation of technology that makes it easier to manage and monitor patients at home, they are in the right place.
“There is not a more convenient, less expensive, higher quality way to achieve care for our consumers and patients,” he said.