Archive: August 2005
Rotech's P&L suffers reve
August 31, 2005HME News Staff
ORLANDO, Fla. -- Rotech's net revenues for the second fiscal quarter that ended June 30, 2005 were $133 million compared to $135.5 million for the same periond last year.
The company reported net earnings of $1.1 million for the second quarter of 2005 as compared to $12.9 million as restated for the second quarter of 2004. Rotech reported a net loss of $1.9 million for the six months ended June 30, 2005 as compared to net earnings of $22 million as restated for the comparable period last year.
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Apria's 2Q profits dip
August 31, 2005HME News Staff
LAKE FOREST, Calif. -- Apria Healthcare's profits fell by 21% in the second quarter as the company felt the brunt of reimbursement cuts imposed by the Medicare Modernization Act.
In the second quarter last year, Apria dropped $29.1 million to the bottom line. This year, reimbursement hits to oxygen and respiratory medications cut earnings to $22.8 million.
Revenues for the quarter jumped by 4% over last year to $375 million. In addition to the Medicare pricing pressures, Apria's revenues were...
I-Flow signs 10 new managed care contracts
August 31, 2005HME News Staff
MADISON HEIGHTS, Mich. -- I-Flow announced in July that its subsidiary, InfuSystem, a provider of ambulatory infusion management services, had signed 10 new managed care contracts. The contracts represent more than 10 million lives nationally. InfuSystem's services enable oncologists to manage the delivery of chemotherapy for patients while monitoring their progress without the need for the patient to stay in a hospital setting.
Medicare clears up confusion
August 31, 2005HME News Staff
ASHINGTON -- In a July advisory, Medicare clarified many of the sticking points that prevented some providers from embracing new technology for pulse oximetry testing.
According to the CMS transmittal, DME providers can deliver and pick up home oximetry tests to Medicare patients -- a decision aimed at speeding up the process of qualifying oxygen patients. However, the provider cannot instruct the patient on how to use the test, and programs must have the capability of preventing anyone but the...
1,200 NCART letters urge rehab carve out
August 31, 2005HME News Staff
WASHINGTON -- The National Coalition for Assistive Rehab Technology has collected 1,200 letters urging U.S. representatives to exempt rehab and assistive technology from Medicare's competitive bidding program scheduled to begin in 2007. "We want Congress to know that this is much bigger than just the self interest of suppliers and manufacturers," NCART Executive Director Sharon Hildebrandt said last month. "We have a lot of clinicians who have sent letters." NCART will sort the letters by congressional...
Women's Health Boutique targets hospital expansion
August 31, 2005HME News Staff
LONGVIEW, Texas -- The Women's Health Boutique is taking its well-established franchise system to a new audience this year as it tries to attract hospital systems to the idea of a one-stop-shop in the continuum of care.
The Boutique this year unveiled a comprehensive marketing plan of its franchise to hospitals through direct mail and trade show exhibits, said Daina Pitzenberger, president and CEO of the company.
"We have presented to five or six hospitals this year, and the trade shows have generated...
M&A still hot, but will it last? Experts say yes
August 31, 2005HME News Staff
YARMOUTH, Maine -- M&A activity in the HME market continued its torrid pace in the first quarter of 2005, and preliminary second quarter numbers also look robust.
Buyers snapped up 26 companies in the first quarter, a 44% increase over Q4 2004 (18) and a 24% increase over Q1 2004 (21), according to The Braff Group's quarterly M&A report, Perspectives, released in late July.
While the Braff Group is still tallying Q2 deals, preliminary numbers indicate that the first half of 2005 will look much...
Ask the DMERC MDs
August 31, 2005HME News Staff
In last month's column, the DMERC Medical Directors felt it would be useful to review some of the common questions that have arisen about the Mobility Assistive Equipment NCD (NCD 280.3). We continue with some additional questions this month.
Q. Does the beneficiary always have to have a cane/walker trial before payment for a manual wheelchair would be approved or a manual wheelchair trial before power wheelchair approval?
A. The sequential approach should always be the foundation for determining...
NYC considers ways to cut diabetes care costs
August 31, 2005HME News Staff
NEW YORK -- New York City is considering a plan that would require medical labs to report test results showing how individual patients are controlling their diabetes, according to the Associated Press. The goal of the proposed program is to reduce diabetes treatment costs -- about $5 billion a year -- by helping patients improve their disease management. The idea, however, is drawing ire from some who say it infringes on patients' privacy.
Pontzius takes up VGM's Nationwide
August 31, 2005HME News Staff
WATERLOO, Iowa - Given that independent respiratory providers are under heavy fire from Medicare, it makes sense that the VGM Group has chosen battle-tested industry veteran Tom Pontzius to lead the retaliation.
A 20-year stalwart of the oxygen field, Pontzius takes over the presidency of VGM's Nationwide Respiratory, a group formed last fall to assist respiratory providers with marketing and business development. He replaces Jim Schaefer at the group's helm. Harold Davis will continue to work...