Archive: April 2007
Non-profit group goes 'out on a limb' to help
April 30, 2007HME News Staff
David Reid lost his right leg due to complications of diabetes in 2005 and without a prosthetic limb was forced to crawl on his hands and knees for almost three years. That changed recently. Reid took his first steps since that fateful day and is not looking back. After suffering the loss of a limb, Reid learned that artificial limbs were not part of his healthcare coverage, and he had no financial resources for a prosthetic device. After repeated attempts to obtain financial assistance for an artificial...
Greg Dupuis: Know your company's worth
April 30, 2007HME News Staff
Selling your business is not a decision to be made lightly. Providers should consider many factors before putting their company on the market, including their motivation for doing so. Greg Dupuis, director of merger and acquisition services for Oldsmar, Fla.-based Bridge Ventures, has successfully completed more than 200 transactions during his career. His Medtrade Spring seminar, "What is My Company Worth?" explores all the steps required for selling an HME enterprise. He shared some perspectives...
Mt. Carmel enjoys two minutes of fame
April 30, 2007HME News Staff
PITTSBURGH, Kan. - Opportunity came knocking for Mt. Carmel Medical Equipment recently in the form of a stuffed-up TV reporter.
"He was suffering from allergies and he (decided) to hunt for a story about allergy season," said General Manager Gary Miller. "Somehow, we got in his crosshairs and wound up doing a two-minute news segment that aired twice."
During the video shoot and interview, Miller stayed off-camera, letting his respiratory therapist enjoy the spotlight.
"(She) talked about products...
'All the information people never had before'
April 30, 2007HME News Staff
TITUSVILLE, Fla. - Telemonitoring hasn't caught on significantly with HME providers, but HMD Biomedical President Bryan Sowards has a new product and program that he thinks will get the ball rolling.
Through a recent partnership with Korean manufacturer Infopia, HMD has begun distributing the Eocene System, a device designed to help with diabetes management. In short, the unit attaches to a standard phone line, downloads information from a blood glucose monitor and then transmits it over an 800-number...
HDI makes play for Medicare, Medicaid biz
April 30, 2007HME News Staff
FORT LAUDERDALE, Fla. - Home Diagnostics executives believe that the company's new TRUEread blood glucose monitor could be its ticket to a greater share of the Medicare and Medicaid diabetes market.
And with an $80 million dollar war chest generated last September for its initial public offering, HDI's in great shape to take on its bigger competitors, said President and CEO J. Richard Damron.
"We're very excited," he said. "The domestic market for Type 2 diabetes is growing 8% annually, and we believe...
Are you willing and able?
April 30, 2007HME News Staff
WASHINGTON - Rep. John Tanner, D-Tenn., introduced a bill in the House of Representatives March 28 that would allow any provider to participate in national competitive bidding, so long as he agrees to submit a bid below the Medicare fee schedule amount and he meets other program requirements.
In addition to the so-called "any willing provider" provision, the bill requires Medicare to study competitive bidding's impact on beneficiaries and providers, and report back to Congress.
"These are common-sense...
'We are looking for an edge'
April 30, 2007HME News Staff
If you think everybody goes to Medtrade to shop, think again. Although cutting deals with vendors remains a draw, attendees these days are exceptionally keen on the show's educational opportunities.
"Due to imminent changes occurring in the HME industry, we believe it is essential to educate ourselves, as well as staff, on all the newest procedures and compliance issues. If we don't, I do not see much chance for survival," said Scott Kucine, a vice president at MedCare Products in Sunrise, Fla.
According...
Ed Lemar: Build your retail momentum
April 30, 2007HME News Staff
The HME industry has approached over-the-counter cash sales with a series of fits and starts. Branching out into retail picks up steam when Medicare reimbursement falls and subsides when rates stabilize. But with public insurance programs now in a constant state of flux, retail sales have never been more important as a revenue supplement, says Ed Lemar, senior vice president of design for Lisle, Ill.-based Gladson & Associates.
Lemar will share his secrets for "Designing and Merchandising a Retail...
Arcadia restructures
April 30, 2007HME News Staff
SOUTHFIELD, Mich. - Arcadia Resources announced plans March 30 to restructure the company to "further sharpen its focus on its core businesses, strengthen future cash flow, integrate recent acquisitions, enhance organizational efficiency and significantly reduce operating expenses." Arcadia plans to close its Orlando, Fla., office, which provides corporate accounting and administrative functions; close several unprofitable DME facilities and consolidate their operations with other nearby facilities;...
Whitestone bolsters incontinence biz
April 30, 2007HME News Staff
BLOOMINGTON, Ind., and EAST BRUNSWICK, N.J. - Whitestone Corp. broadened its reach in the adult incontinence market in January when it acquired Humanicare International. Terms of the deal were not disclosed. Tony Gegelys, Humanicare's founder and CEO and a former Whitestone sales executive, will become one of Whitestone's directors. Jamie Better, president and CEO of Whitestone, will retain his titles. The combined company will distribute several brands, including Dignity and Compose.