Archive: April 2016
Integration begins for ResMed
April 29, 2016Liz Beaulieu, Editor
SAN DIEGO - It's still early days for recent acquisitions to impact ResMed's financial results, but Inova Technologies helped to boost the company's revenues by 2% in the third quarter of fiscal year 2016.ResMed reported $453.9 million in revenues for the third quarter compared to $422.5 million for the same period in 2015, a 9% increase on a constant currency basis.“We had two months of Inova included in the quarter,” said Mick Farrell, president and CEO during a conference call on April...
In brief: O&P stakeholders add bill to arsenal, AAH and VGM book keynotes
April 29, 2016HME News Staff
WASHINGTON - Rep. Renee Ellmers, R-N.C., has introduced a bill that would halt CMS's plans to make dramatic changes to coverage for prosthetic devices.
H.R. 5045, the “Preserving Access to Modern Prosthetic Limbs Act of 2016,” would “impose a moratorium on the implementation of a proposed Medicare local coverage determination on lower limb prostheses,” according to a bulletin from the American Orthotics and Prosthetics Association.
The bill would restrict CMS from...
Providers see business opportunities in Cuba
April 29, 2016Tracy Orzel
YARMOUTH, Maine - As diplomatic relations between the U.S. and Cuba slowly improve, HME providers in Florida are eager to gain a foothold on the isolated island.
“Obviously, there's a big interest in doing business in Cuba, especially in Miami, because of the proximity,” said Angel Pardo, owner of DMR in Doral. “We could be the main hub for any business transactions in Cuba.”
The demand for HME on the communist island is strong. Cubans live an average of 79 years,...
Invacare leans on subsidiaries
April 29, 2016Liz Beaulieu, Editor
ELYRIA, Ohio - Invacare posted first quarter losses last week, but if you look at the company as a “long-term turnaround,” you'll see some short-term improvements, says top exec Matthew Monaghan.
Invacare reported a net loss of $8.6 million for the first quarter of 2016 compared to a net loss of $7.3 million for the same quarter last year. It reported net sales of $257.6 million vs. $289 million.
For North America HME, which has been hardest hit by a consent decree with the...
Deja vu: Concerns resurface in Round 2 re-compete
April 29, 2016Theresa Flaherty, Managing Editor
WASHINGTON - Industry stakeholders have begun the monumental task of analyzing the newest competitive bid contract suppliers.
“We're trying to get a feel for who won the most contracts in what product categories,” said Kim Brummett, vice president of regulatory affairs for AAHomecare.“One of the things we are looking at, since the pricing was lower, are they mostly the big nationals or are we still dealing with mom and pops that won hundreds of contracts.”
CMS named...
Short takes: Invacare, NCART
April 29, 2016HME News Staff
Invacareis an official supporter of the 2016 Invictus Games, which will be held May 8-12 in Orlando, Fla. The company has also donated sports wheelchairs and handbikes for competitors to use as part of the Games. Competitors will take part in 10 events, including archery, indoor rowing, powerlifting, road cycling and wheelchair rugby…NCART is asking for help on behalf of complex rehab advocate Archer Hadley of Austin, Texas. Hadley, who was a presenter at last year's CRT conference, has been nominated...
Feds host listening sessions on sleep apnea proposal
April 29, 2016HME News Staff
WASHINGTON - The Federal Motor Carrier Safety Administration and the Federal Railroad Administration will hold three public listening sessions in May to gather information on the prevalence of obstructive sleep apnea among those working in highway and rail transportation, according to a notice in Thursday's Federal Register. The agencies also seek information on the potential costs and benefits from possible regulatory actions that address the safety risks associated with transportation workers who...
Comfort Medical buys resource for wheelchair users
April 29, 2016HME News Staff
CORAL SPRINGS, Fla. - Comfort Medical, a subsidiary of Liberty Medical, has acquired Wheel:Life, a digital media publication and social community for wheelchair users. Wheel:Life, which has more than 26,000 followers on social media, served more than 100,000 website visitors in 2015. “We are excited to bring the resources and support of Wheel:Life to our customers, as well as provide the opportunity to Wheel:Life to continue expanding the community it serves,” stated Ryan Flannery,...
AAHomecare books Congressional champions for conference
April 28, 2016HME News Staff
WASHINGTON - AAHomecare has lined up Reps. Marsha Blackburn, R-Tenn.,andRenee Ellmers, R-N.C., to speak at the 2016 Washington Legislative Conference, slated for May 25-26 at the Washington Court Hotel.Rep. Ellmers introduced a bill this week that would halt CMS's plans to make dramatic changes to coverage for prosthetic devices, while Rep. Marsha Blackburn, R-Tenn., introduced a bill last year that would require prior authorizations for certain high-cost DME, including oxygen.In addition, a general...
Invacare reports first quarter losses
April 28, 2016HME News Staff
ELYRIA, Ohio - Invacare reported a net loss of $8.6 million for the first quarter of 2016 compared to a net loss of $7.3 million for the same quarter last year. It reported net sales of $257.6 million vs. $289 million. For North America HME, it reported net sales of $106.4 million for the first quarter, a 15% decrease compared to the same quarter last year. A bright spot: net sales of mobility and seating products, which make up the majority of the company's clinically complex portfolio, increased,...