Archive: August 2004
Fe, fi, fo, fum: Cuts rankle med giants
August 31, 2004HME News Staff
WASHINGTON - The national providers of respiratory drugs flexed their muscles in July by again threatening to quit the business - and severely limit beneficiary access - if an estimated 89% reimbursement cut for albuterol and ipratropium bromide takes shape in 2005.
These warnings translate into a real fear by CMS that access to these drugs could be all but cut off and could ultimately influence the formulation of a new dispensing fee for respiratory drugs, say industry watchers.
“In the...
Trowbridge readies RDI for change
August 31, 2004HME News Staff
FOLEY, Ala. - Respiratory Distributors will abandon its Core line of programs, introduced about four years ago, in favor of some new product lines currently in development, said an RDI official.
When first introduced, the Core programs were expected to expand RDI's offerings into a more diverse mix of pharmaceuticals, respiratory aids, sleep aids and medical equipment. They included PharmCORE, RespiCORE, SleepCORE, CustomCORE, FinanceCORE, GlyCORE and VisionCORE.
Several of the Core programs did...
Apria calls acquisitions ‘unprecedented’
August 31, 2004HME News Staff
LAKE FOREST, Calif. - Apria spent $67 million in the second quarter to acquire an “unprecedented” 14 companies, according to CEO Lawrence Higby.
In the first quarter, Apria acquired seven companies for $42 million.
“We're well on our way to achieving our revised full year target of $130 million (in acquisitions),” Higby stated in the company's second quarter financial report. “For 2004, we expect revenue to grow in the 5-6 percent range do to the expansion of our respiratory...
For some, concerns over face-to-face proposal fizzle
August 31, 2004HME News Staff
WASHINGTON - A long-anticipated Medicare regulation requiring doctors to perform a face-to-face evaluation of a patient before prescribing a power wheelchair surprised many in the industry when the proposed rule failed to address power mobility specifically.
The Medicare Prescription Drug Act, which became law last December, mandated face-to-face evaluations as a means to combat fraud and reduce over utilization in the power mobility market. Wording in July's Notice of Proposed Rulemaking, however,...
Roll-up blues
August 31, 2004HME News Staff
BOCA RATON, Fla. - Ed Arioli's plan to roll up a home respiratory company that eventually generates $20 million to $50 million in annual revenue has run into trouble.
The venture, Specialize Home Medical Services, has become embroiled in a legal fight with a former director. Both sides declined to discuss the dispute publically. What is known, however, is that Specialized is no longer servicing patients from its St. Clair Shores, Mich., location, its only facility.
The dispute appears to involve...
Lure in those fishing for bath safety products
August 31, 2004HME News Staff
The best way for HME retailers to sell more bath safety products, manufacturers say, is to get more customers into the store. Generate more traffic, the thinking goes, and you generate more sales.
General retailers are tripping over themselves to attract the inexorably aging boomer generation and as a result, ambulatory aids, bath safety products and ADLs are getting an increasing amount of shelf space at mass merchandisers like Wal-Mart and Kmart. And while those stores may be capturing a certain...
Awards & Data
August 31, 2004HME News Staff
Publisher, HME News
Although it's only September, preparations are well under way for this year's Medtrade in Orlando. One of the mainstay events is the Kickoff Celebration/HME Excellence Awards Ceremony, and the HME Excellence Awards judging panel is hard at work selecting the winners.
For 2005, the judges are Steve Burman, a former owner of a full-line HME supply company and a two-time HME Excellence Awards finalist; Rick Glass, a mergers and acquisition specialist with Steven Richards & Associates,...
Finance
August 31, 2004HME News Staff
Selling your company
with Gina Bienkowski
Q. I'm selling my company and the terms “stock sale” and “asset sale” are used. If I want cash up front and not buyer's stock, should I insist on an “asset sale”?
A. Not necessarily. Generally, the terms “stock sale” and “asset sale” are used to define what a buyer is purchasing from you. It's important not to confuse this with how a buyer will pay for the acquisition - i.e. cash, notes, or buyer's...
Reimbursement
August 31, 2004HME News Staff
Your billing staff
with Sarah Hanna
Q: How do I know if I am under or over staffed in my billing department?
A: HME staffing ratios for billing departments are as follows. Automated: one biller to 500 patient accounts. Manual: one biller to 250 patient accounts. However, along with this rule of thumb, you must consider the following:
1) Employee skill level: More accounts can be given to a highly trained employee than to a less skilled or new employee.
2) Payer mix: The more payers you can bill...
Briefs
August 31, 2004HME News Staff
Non-profit group seeks info on wheelchair access
OAKLAND, Calif. - The Disability Rights Advocates (DRA) through its Health Access Project is conducting an investigation into Medicare beneficiary access in light of Medicare's in-the-home coverage policy for wheelchairs and scooters. The organization is asking providers to submit comments if they have been unable to get Medicare reimbursement, or if they have stopped accepting claims for power wheelchairs for use outside the home because they know...