In brief: Option Care Health and Viemed results, TexMEP exec, Heartland registration

BANNOCKBURN, Ill. – Option Care Health reported revenue of $759.2 million for the first quarter of 2021, an increase of 7.6% compared to $705.4 million for the same period last year.  

Gross profit was $165.5 million, or 21.8% of net revenue, and adjusted EBITDA was $52.2 million for the quarter. 

“The Option Care Health team delivered solid financial results in the first quarter while continuing to lay the foundation for sustained growth,” said John Rademacher, CEO. “We continue to make progress in integration efforts and invest in technology and clinical capabilities to further solidify our industry leading position.” 

During the quarter, Option Care Health began operating its new Care Management Center and Chronic Center of Excellence in Chicago. 

It also acquired certain chronic infusion therapy assets from BioCureRex for $18.5 million. 

Viemed sees patient uploads rebound in March 

LAFAYETTE, La. – Viemed Healthcare reported net revenues for its core business were $25.5 million for the first quarter ended March 31, 2021, a 12% increase compared to the same quarter last year. 

Total revenues were $28.4 million, including $2.9 million for contract tracing services and product sales related to the COVID-19 pandemic. 

“The first quarter will very likely be the quarter where things began to reopen from the COVID-19 pandemic and I am once again proud of our ability to keep servicing high need patients,” said Casey Hoyt, CEO. “Our new patient uploads during March were the highest single month since the pandemic began and gave us the ability to grow our core business, even with the challenges faced during January and February. We are excited to continue utilizing our new programs, along with our traditional sales methods as more health care systems open around the country.” 

Viemed reported net income of about $1.7 million for the first quarter compared to $4.2 million for the same quarter last year. 

The company expects to generate net revenues of $26.2 million to $27.2 million for its core business and total revenues of $26.7 million to $28.2 million during the second quarter. 

AZ MediQuip readies new retail location 

PHOENIX – AZ MediQuip will open a new location in Goodyear, Ariz., later this month, its fifth retail location in the valley. “We are excited to be expanding our services in the valley,” said Mark Belanger, COO of AZ MediQuip. “This location will offer a 5,500-square-foot showroom featuring the largest on-site selection of home medical equipment and supplies in Arizona. Our trained, best-in-class team is ready to help serve the community.” Earlier this year, AZ MediQuip received an investment from Gemini Investors to grow its retail business. The provider offers a broad range of home medical equipment and supplies, and repair and installation services. 

Glooko, Eli Lilly to collaborate on connected insulin pens 

GOTHENBURG, Sweden – Glooko will partner with Eli Lilly for a strategic digital health collaboration using Eli Lilly’s connected insulin pens, the Tempo Pen and Tempo Smart Button. Through the agreement, the Tempo Smart Button will pair with Glooko’s software to integrate personalized health care data from the Tempo Pen, allowing it to be viewed and analyzed alongside other relevant data from other devices, fitness trackers and food logs. “Lilly is a valued partner for Glooko, and we are pleased to collaborate with them on this important digital health launch,” said Russ Johannesson, CEO of Glooko. “Studies have shown that when smart insulin devices are synced with digital health tools, it improves outcomes for people living with diabetes. We are excited about continuing to expand the availability of our solution and look forward to helping more people manage their diabetes through our innovative products.”  

Winners’ circle: Brightree, NHIA 

Brightree’s Brightree Patient Collections (BPC) solution has been selected as the winner of the “Best New Technology Solution for Healthcare Payment” award in the fifth annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global health and medical technology market. This year’s program attracted more than 3,850 nominations from more than 17 different countries throughout the world … The National Home Infusion Association has received an American Society of Association Executives (ASAE) 2021 Gold Circle Award for its bi-monthly INFUSION print magazine, which underwent a redesign in 2019. The Gold Circle awards are a competitive annual program, with more than 300 submissions from associations representing a wide range of industries. The 2021 honorees were chosen for distinction in 15 different categories to recognize excellence in membership, marketing and communications. 

Financial benchmarking survey is open 

WATERLOO, Iowa, and YARMOUTH, Maine – VGM & Associates and HME News have partnered on the 2021 Financial Benchmarking Survey. The survey is available online and is open only to providers of home medical equipment. Survey results will be available for free to participating providers and will be presented and analyzed at the Virtual HME News Business Summit, which takes place Sept. 9-10. “This continued partnership makes it convenient for HME providers to have one source to submit their business information,” stated Clint Geffert, president of VGM & Associates. “We highly encourage all HME providers to participate in this important survey for the HME industry to be accurately reflected. Participation is key for quality results and an accurate outlook for the HME industry.” All respondents will have a chance to win a 50% off registration for the 2021 VGM Heartland Conference, which takes place Sept. 13-15 in Waterloo, Iowa. The survey deadline is July 9. Complete the survey at www.hmenews.com/benchmark.  

TexMEP taps Lauryn Estrella as executive director 

AUSTIN, Texas – The Texas Medical Equipment Providers Association has named Lauryn Estrella as its new executive director. Estrella has more than 10 years of experience in the HME industry, including six years at HOMES, most recently helping multiple associations with database management, event planning and congressional meetings. TexMEP has also established a new board of directors. They include: Board President, Victoria Peterson of Respiratory & Medical Homecare; Board Secretary/Treasurer, Mark Gowen of Angel Medical Supply; Legislative Committee Chair, Adrienne Trigg of Apple Homecare Medical Supply; Laurie Bachorek of MetroCare Home Medical, Josh Britten of BritKare Home Medical, David Chandler of AAHomecare, RJ Poonawala of Spring Branch Medical, and Bob Rodriguez of The VGM Group. “I’m excited to lead TexMEP as executive director and continue advocating for providers and the HME industry,” sad Estrella. “We’ve formed an amazing team with our board of directors and committees, and I’m looking forward to seeing what we can accomplish in the coming months and years.” 

Heartland registration opens 

WATERLOO, Iowa – Registration is now open for VGM’s 20th anniversary Heartland Conference, which takes place Sept. 13-15 in person. Special Early Bird pricing is available to those who register prior to July 15. Passes are all-inclusive and provide access to every educational opportunity, including pre-conference sessions and on-demand Heartland At Home virtual courses. This year’s passes also cover meals, entertainment and access to a newly renovated exhibit hall. “We’re so excited to announce that Heartland 2021 will be live and in person again,” said Clint Geffert, president of VGM & Associates. “Heartland has always been about bringing people together to be part of something bigger—a community.” The event will feature about 70 education sessions on topics ranging from respiratory to accessibility to rehab to leadership to operations to sales and marketing to billing and reimbursement and more. To learn more and register for Heartland 2021, visit vgmheartland.com. 

Motion expands in BC 

TORONTO – Motion, formerly Motion Specialties, a provider of mobility and home accessibility solutions in Canada, has acquired A-1 Wheelchairs Unlimited in Langley, British Columbia. A-1 Wheelchairs, a family owned and operated business that was founded in 1985, provides products and services to Langley and its surrounding communities – from Vancouver to Hope. “Building on our expansion throughout British Columbia, which began with the integration of North Coast Home Medical Equipment in January, this acquisition demonstrates our ongoing commitment to enhancing our customer service and reach across the province,” said Thecla Sweeney, executive chair and CEO of Motion. A-1 Wheelchairs will now be known as Motion Langley. “The Motion Langley team will work closely with our established Motion Vancouver team to best support our clients with their ongoing and growing need for quality mobility and accessibility products and services in this area,” Sweeney said. In addition to North Coast HME, Motion has acquired the wheelchair and stairlift division of Shoppers Home Health Care, MEDIchair (Saskatoon, Saskatchewan, and Newmarket, Ontario), Creative Mobility Products and Eastern Mobility Specialists in the last five years. 

AASM launches sleep registry 

DARIEN, Ill. – The American Academy of Sleep Medicine has launched a clinical registry for sleep medicine to streamline data collection and reporting. The AASM Sleep Clinical Data Registry (Sleep CDR) will support quality improvement efforts, collection of patient-reported outcomes data and benchmarking. It will also facilitate participation in national quality reporting programs, such as the merit-based Incentive Payment System administered by CMS. “The AASM’s clinical data registry will help drive high-quality care in sleep medicine,” said Dr. Kannan Ramar, AASM president. “Sleep CDR allows the sleep team at accredited sleep centers to track meaningful data, increase quality based reimbursements, and evaluate performance against other providers to identify opportunities to improve patient care.” Data entry and reporting in Sleep CDR is currently free for AASM facility members and individual members in AASM-accredited sleep centers. There is a $250 fee for MIPS submissions. 

National Ramp to sponsor Roll on Capitol Hill 

VALLEY COTTAGE, N.Y. – National Ramp, a manufacturer of modular ramps, is a premier sponsor of United Spinal Association’s Roll on Capitol Hill. Roll on Capitol Hill is United Spinal’s annual policy event to support key advocacy priorities for its membership and the broader disability community and to ensure that legislators include wheelchair users and all people with disabilities in policy debates on Capitol Hill. “The United Spinal Association is a great organization for us to partner with,” said Garth Walker, managing director. “In their 75 years, they have a long history of successfully advocating for people living with spinal cord injuries and disorders (SCI/D). We are proud to support their ongoing work and this year’s Roll on Capitol Hill.” 

NCPA backs bill to reform PBM market 

ALEXANDRIA, Va. – The National Community Pharmacists Association supports legislation reintroduced by Sens. Chuck Grassley, R-Iowa, and Maria Cantwell, D-Wash., that would require the Federal Trade Commission to study the role and recent merger activity of pharmacy benefit managers, including possible anticompetitive behavior. S. 1388, the Prescription Pricing for People Act, will bring more transparency into health care by addressing high drug costs and patient challenges, says B. Douglas Hoey, CEO of the NCPA. “Momentum is growing to reform and rethink antitrust enforcement in the United States,” he said. “Independent pharmacists have been pressing for this for many years. There’s a severe lack of competition in the PBM market, and it is driving up the cost of prescription drugs. Unfortunately, patients, employers and small business partners suffer as this consolidation has so far gone largely unchecked by regulators and been permitted to grow.” S. 1388 is co-sponsored by Sens. Marsha Blackburn, R-Tenn., Richard Blumenthal, D-Conn., Thom Tillis, R-N.C., and Joni Ernst, R-Iowa. 

CVS Health allocates $100M to disrupt digital health 

WOONSOCKET, R.I. – CVS Health last week launched CVS Health Ventures, a dedicated corporate venture capital fund that will invest in and partner with high-potential, early stage companies focused on making health care accessible, affordable and simple. “Consumers deserve a better health experience, one that puts them at the center of cutting-edge, digitally enabled solutions,” said Karen Lynch, president and CEO, CVS Health. “Forming CVS Health Ventures will build on our successful track record of scaling innovation and driving change in health care.” The fund will initially launch with $100 million allocated for investments and will focus on companies with the potential for technology enabled innovation and disruption in digital health care that are anchored in CVS Health’s core strategy. CVS Health Ventures will build relationships with early stage companies via investment, as well as by offering expertise and insights from CVS Health’s perspective. CVS Health has already made more than 20 direct investments through the CVS and Aeta businesses. Current investments include Unite Us, a technology platform that connects health care and social services providers, and LumiraDx, a point-of-care diagnostic platform. “We have deep experience investing in innovative companies,” said Josh Flum, executive vice president, Enterprise Strategy & Business Development, CVS Health. “We will build on this experience by providing capital to our start up and venture partners and helping them scale more rapidly through commercial relationships with our business units. This is an exciting opportunity to accelerate innovation and effectively bring new solutions to the consumer health space.” 

AOPA doubles down on bill 

ALEXANDRIA, Va. – The American Orthotic and Prosthetic Association expects a companion bill to H.R. 1990 to be introduced in the Senate soon. The bill includes provisions that would prohibit the use of drop shipping to deliver orthoses that are not specifically designated as off-the-shelf orthoses. AOPA believes the bills, if passed, would go a long way to curb fraud and abuse through the delivery of medically unnecessary orthoses to Medicare beneficiaries. “AOPA remains steadfast in its support of the elimination of all fraud and abuse in the delivery of orthoses and prostheses, and has taken significant steps to facilitate legislative and regulatory pathways to support the efforts of the DOJ, OIG and CMS,” the association states. “AOPA strong condemns the predatory, criminal behavior that has resulted in significant losses to the Medicare program through the fraudulent provision of orthoses to unsuspecting Medicare beneficiaries.” AOPA noted the upcoming introduction of the Senate bill in response to recent government and media reports that indicate that the fraudulent provision of orthoses through lead generation and advertising schemes continues to pose significant risk to Medicare beneficiaries and the Medicare program. In April 2019, following an extensive investigation named Operation Brace Yourself, the DOJ announced a series of criminal indictments that identified more than $1.2 billion in losses to the Medicare program through the fraudulent provision of orthoses. 

Medtrade: Early rates go into effect, call for presentations extended 

PHOENIX and ATLANTA – Early rates for Medtrade West are in effect through May 15. Early rates offer a $50 savings on a conference pass, compared to advance rates, and $130 in savings, compared to standard rates. Savings are also available for expo passes. Medtrade West is scheduled for July 12-14 at the Phoenix Convention Center. Click here* to register…Show organizers have extended the call for presentations for Medtrade East until May 14. Click here to submit a proposal. Medtrade East is scheduled for Oct. 18-20 at the Georgia World Congress Center.