Providers

WASHINGTON – The fact that the HME industry, physician groups and patient groups are all in alignment on what needs to be done to fix the Medicare oxygen benefit should help to propel a new bill forward, says Dan Starck, interim chair of the Council for Quality Respiratory Care.  The Supplemental Oxygen Access Reform (SOAR) Act, introduced in late February in the Senate and in late March in the House of Representatives, has support from heavy hitters like the American Lung Association,...

RICHMOND, B.C. – HME Home Health's website has undergone its first major overhaul in four years – a very long time in the world of tech, says CEO and Co-founder Robert Boscacci.  A highlight of the new website, which took the better part of a year to develop: an e-store.  “Here’s the thing, our customers are online,” said Boscacci. “So, the demand has been there, and since the pandemic, in particular, we’re finding our customers—more...

CLEVELAND – Joel Marx isn’t crazy about calling himself a home care champion – he prefers to say he’s a champion for home care.  Call it what you like, Marx is this year’s Van Miller Homecare Champion and was the guest of honor at AAHomecare’s Stand Up for Homecare reception at Medtrade in March.  “It’s nice to be recognized, but no one person makes the difference,” said Marx, chairman of Medical Service Company, which his parents...

ASHEVILLE, N.C. – Aeroflow Health has undergone a “revolution” over the past 20 years, most recently with a rebrand that’s part of the company’s strategic plan to evolve with health care, says Ryan Bullock, who was recently named chief strategy officer.  Aeroflow launched in 2001 as a traditional HME provider offering home oxygen and other durable medical equipment, but these days it offers products through four divisions: Breast Pumps, Urology, Sleep and Diabetes.  “The...

KENT, Wash. – Performance Home Medical was recently acquired by a private equity firm and plans to use the investment to become a “disruptor” in the market.  The company is looking at a number of states to expand into, and while acquisitions with the right partners are on the table, PHM is “great at the organic side,” too, says Dan Vasilj, president and CEO.  “We’ve had a lot of success focusing on the small details and that’s really...

SANDWICH, Mass. – After years of “ill-fated policy decisions,” the HME industry is finally enjoying some stability, but providers need to leverage technology if they want to fully benefit from the more positive environment, says Gary Sheehan.  “In terms of the reimbursement rate environment and the regulatory environment – that’s pretty well-known,” says Sheehan. “So, what you are back to now is a growth environment for providers. But you can’t...

PLYMOUTH MEETING, Pa. - Diabetes revenue for the fourth quarter of 2023 was down 3.8% against the prior year, driven in part by compression on insulin pumps, but AdaptHealth execs say they plan a big push to boost that part of the business in 2024.  Pump revenue in 2022 was about $160 million, and the company expected revenue of about $120 million in 2023.  “We came right in line with that expectation,” said Jason Clemens, CFO, during a recent call to discuss the company’s...

CHARLOTTE, N.C. – Joerns Healthcare has entered into a definitive agreement to sell its rental service network in Florida, Georgia, Louisiana, Oklahoma and Texas to MasVida Health.   As part of the transaction, MasVida has acquired Joerns products and associated operational assets in the territory, but Joerns has retained and will continue to operate its medical equipment sales and services business. Joerns will also partner with MasVida to support its expansion moving forward.  "Joerns...

PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $3.2 billion for fiscal year 2023, an increase of 7.7%.  Despite the revenue increase, the company reported a net loss of $678.9 million, largely due to a substantial pre-tax goodwill impairment of $830.8 million.  AdaptHealth's adjusted EBITDA for 2023 was 13%, reaching $670.8 million. Free cash flow increased to $143.2 million from a negative $17.6 million in 2022.   "We closed out 2023 with strong...

ORLANDO, Fla. – Rotech Healthcare on Feb. 23 provided notification of a recent privacy incident experienced by Philips Respironics that may have impacted certain information of patients who purchased Philips sleep and respiratory devices from Rotech.  “Although Rotech is unaware of any misuse of information resulting from this event, we are providing this notice in an abundance of caution,” the company stated on its website.  When reached for comment, a spokesman...