Archive: April 2023
Stakeholders: ‘Timing couldn’t be better’
April 28, 2023Theresa Flaherty, Managing Editor
WASHINGTON – Industry stakeholders head to the Hill next week armed with new reimbursement relief legislation in the Senate, and they’re angling to have legislation in the House of Representatives, too.
“Our goal was to get (the bill) accomplished in the first four months of the new Senate, so the timing couldn’t be better,” said Tom Ryan, president and CEO of AAHomecare.
AAHomecare is hosting 50 industry stakeholders from around the country in Washington,...
Philips recall update: Call-out, lawsuits, consent decree
April 28, 2023Liz Beaulieu, Editor
AMSTERDAM – Philips has clarified that, as of April 14, it has produced 2.8 million new devices and repair kits for the U.S. market, of which 2.2 million are in the hands of DME providers and patients.
The company is working to get the remaining devices and kits to providers and patients in the second quarter, said CEO Roy Jakobs during a conference call on April 24 to discuss the company’s financial results for the first quarter of 2023.
“What the call-out...
ResMed firing on all cylinders
April 28, 2023Liz Beaulieu, Editor
SAN DIEGO – ResMed posted a 48% increase in device sales in the U.S., Canada and Latin America for the third quarter of FY2023 compared to the same period in 2022, on the backs of “unconstrained access” to its AirSense 10 cloud-connected CPAP machine.
“Incredible growth – an all-time high,” said Mick Farrell, CEO, during a conference call to discuss the company’s financial results on April 27. “Many factors have gone into that, but primarily,...
Jones Medical Supply 'changes the game’
April 28, 2023Theresa Flaherty, Managing Editor
TROY, Ala. – A year after inking name, image and license (NIL) deals with local college athletes, Jones Medical Supply has upped its game by partnering with a local sleep center to offer sleep studies to the offensive linemen of the Troy Trojans.
“The offensive lineman are often big, overweight guys – there’s no other way to put it,” said Jason Jones, president of Jones Medical, which has locations in Troy and Greenville, Ala. “They have a large neck and...
In brief: AdaptHealth settlement, Quipt raise, KabaFusion investment
April 28, 2023HME News Staff
PHILADELPHIA – AdaptHealth will pay $5.3 million to resolve alleged False Claims Act violations for submitting allegedly false claims to federal health care programs for respiratory devices that patients did not need or use, according to the U.S. Attorney’s Office for the Eastern District of Pennsylvania.
The settlement resolves allegations that between 2013 and 2017 AdaptHealth, known at the time as QMES and Tri-County Medical Equipment and Supply, knowingly and willfully billed...
Aeroflow earns HITRUST status
April 28, 2023HME News Staff
ASHEVILLE, N.C. – Aeroflow Healthcare has earned certified status by HITRUST for information security for its technology platform. HITRUST Risk-based, 2-year (r2) Certified status demonstrates that the organization's national offices have met demanding regulatory compliance and industry-defined requirements and is appropriately managing risk. "This achievement is a testament to our unwavering commitment to ensuring the highest standards of security and compliance in the health care industry,"...
Quipt raises $40.2M
April 28, 2023HME News Staff
CINCINNATI – Quipt Home Medical has closed its previously announced bought deal public offering of common shares. The company issued a total of 5,129,000 common shares at an issue price of $7.85 per share for aggregate gross proceeds of $40,262,650. Concurrent with the closing of the offering, the underwriters also completed a brokered private placement, on a commercially reasonable best-efforts basis of 280,000 common shares at the issue price, for aggregate gross proceeds of $2,198,000 for...
ResMed revenue buoyed by ramped up production
April 27, 2023HME News Staff
SAN DIEGO – ResMed reported revenue increased 29% to $1.1 billion and net income increased 30% to $232.5 million in the third quarter of fiscal year 2023.
It reported gross margin contracted 150 bps to 55.3% and non-GAAP GM contracted 200 bps to 56.1%, driven primarily by unfavorable product mix and higher component costs, partially offset by an increase in average selling prices.
“During the third quarter, we significantly ramped up production and delivery of our cloud-connected...
Let's keep talking
April 27, 2023Liz Beaulieu, Editor
Managing Editor Theresa Flaherty and I conduct quite a few interviews for the stories that appear in HME News. By all accounts, our May issue features quotes from more than 40 different people.
I hope that’s not lost on you, dear readers, as this is one of the things that sets HME News apart.
We’re on the phone with providers, manufacturers, vendors, consultants and other HME-affiliated professionals every day, discussing industry trends and developments, teasing out challenges...
Maine: Bill introduced to exempt HME from sales tax
April 27, 2023HME News Staff
AUGUSTA, Maine – Democratic Maine Sen. Troy Jackson has introduced LD 1184, a bill that seeks to exempt medical equipment and supplies prescribed by a health care provider from state sales tax, AAHomecare reports. HME providers are currently paying a consumer sales tax on prescribed medical equipment, such as nebulizers and breast pumps, essentially taxing businesses. Other states have also moved to exempt medical equipment from sales tax, including Washington state, which recently got a sales...