In brief: Proposed cath changes, PromptCare deal & more

WASHINGTON – CMS has proposed discontinuing two existing HCPCS codes for intermittent urinary catheters, A4351 and A4352, and establishing five new codes in response to a request from AAHomecare and its manufacturer members. 

The agency stated that it does not see a claims processing need to discontinue or modify existing HCPCS code A4353, “Intermittent urinary catheter, with insertion supplies.” 

“CMS believes that clinical evidence and current payer policies would support HCPCS Level II codes to identify hydrophilic coatings, particularly as there is evidence that, for some patients, hydrophilic catheters may reduce the incidence of UTIs,” the agency stated in an agenda for a  May 28 public meeting. 

The agency mapped out the new codes as follows: 

• Establish a new HCPCS Level II code AXXXX, “Intermittent urinary catheter; straight tip, with or without coating (Teflon, silicone, silicone elastomer, etc.), each” 
• Establish a new HCPCS Level II code AXXXX, “Intermittent urinary catheter; coude (curved) tip, with or without coating (Teflon, silicone, silicone elastomeric, etc.), each” 
• Establish a new HCPCS Level II code AXXXX, “Intermittent urinary catheter; straight tip, hydrophilic coating, each” 
• Establish a new HCPCS Level II code AXXXX, “Intermittent urinary catheter; coude (curved) tip, hydrophilic coating, each” 
• Establish a new HCPCS Level II code AXXXX, Intermittent urinary catheter; hydrophilic coating, with insertion supplies” 

The agency says it will follow its continuity of pricing regulations for this preliminary payment determination. 

AAHomecare submitted the request to expand the list of codes for intermittent urinary catheters based on an analysis and review by the Intermittent Catheter Coding Reform Coalition (RCCRC), a coalition of manufacturers. Their initial request included 19 new codes to further distinguish the functionalities of straight tip intermittent urinary catheters, curved tip intermittent urinary catheters and insertion supplies. 

“Pending further feedback and final determination, CMS anticipates the proposed changes to take effect on Jan. 1, 2026,” the association stated in a bulletin. “ICCRC is pleased that CMS has established new HCPCS codes for intermittent catheters, recognizing hydrophilic features separately from other catchers. AAHomecare, in collaboration with ICCRC, will be commenting on the proposed changes.”   

For more information on the proposed changes, read the full meeting agenda here. 

PromptCare expands nat’l footprint 

NEW PROVIDENCE, N.J. - PromptCare, a provider of at-home and alternate-site infusion therapy, has announced that Coastal Infusion Services, which has a presence throughout the southern U.S., is now part of its family of companies. 

Coastal Infusion Services also cares for patients at six state-of-the-art ambulatory infusion suites (AISs) strategically located throughout southern Louisiana.  

“This is a unique opportunity to combine two organizations with deeply experienced clinical teams and industry-best patient satisfaction and outcomes,” says Paul Jardina, CEO of PromptCare. “With this acquisition, PromptCare further expands our reach to care for patients who need high-quality infusion therapy in the safe setting of their choice.” 

As an ACHC-accredited specialty pharmacy, Coastal Infusion Services also provides an extensive portfolio of infusion and injection medications. 

Late last year, PromptCare announced a new corporate identity, logo and website as part of a rebranding initiative. 

Viemed ‘kicks off’ with strong Q1 

LAFAYETTE, La. – Viemed Healthcare reported revenues of $50.6 million for the first quarter of 2024, a 28% increase over the prior year. 

Net income for the quarter totaled $1.6 million; and adjusted EBITDA totaled $10.1 million, a 21% increase. 

"I am tremendously enthusiastic about the company's performance, as we kick off 2024 with strong momentum," said Casey Hoyt, CEO. "Our steadfast investments in personnel and operational enhancements are yielding substantial outcomes, propelling our growth trajectory to new heights. The recent successes in restructuring our salesforce and executing on our acquisition strategies have bolstered our determination to explore fresh avenues for expansion, exemplified by our innovative hospital joint venture strategy. Leveraging our competitive advantage as a leader in high-touch, high-tech health care in the home, we believe we are poised to revolutionize traditional healthcare delivery models and unveil unprecedented opportunities." 

Viemed recently finalized its strategic partnership with East Alabama Health, providing Viemed with the controlling interest of East Alabama HomeMed. 

The company expects to generate net revenues of approximately $53.8 million to $54.8 million during the second quarter of 2024. 

NCART names Piriano to new role 

ROCHESTER, N.Y. - NCART has named Julie Piriano, a veteran of the complex rehab industry, to the newly created position of senior director of payer relations & regulatory affairs. Her role is to ensure all payers and insurers follow policy and cover required equipment and services. “NCART and our members are excited to have Julie join in this important new role,” said Wayne Grau, executive director of NCART. “Her experience working with a variety of stakeholders, including government agencies, regulators, payers and consumers, will strengthen our team and provide leadership on issues that are critical to our members.” Piriano, who has worked in the seating and mobility industry for 40 years, most recently served as vice president, clinical education, rehab industry affairs and compliance officer for Pride Mobility Products and Quantum Rehab. She is a member of the board of directors for RESNA and serves on numerous other CRT industry-related boards and committees. “NCART has been an invaluable resource for the CRT industry, and I look forward to working collaboratively with our members to strengthen their relationships with payers and regulators,” Piriano said. 

Soleo Health named partner for new drug 

FRISCO, Texas – Soleo Health has been named a limited distribution specialty pharmacy partner to dispense RYPLAZIM manufactured by Kedrion Biopharma. RYPLAZIM is the first and only U.S. Food & Drug Administration-approved treatment for supporting the approximately 500 people in the U.S. affected by plasminogen deficiency type 1 (PLGD-1).  "We take pride in being among the few selected specialty pharmacy providers administering RYPLAZIM to PLGD-1 patients,” said Drew Walk, CEO of Soleo Health. “Complex conditions like PLGD-1 require our clinical excellence and extensive knowledge to ensure patients receive appropriate access to treatment while simplifying their complex care. We are thankful for our relationship with Kedrion and the opportunity to make a significant difference in these patients’ lives.” Considered an ultra-rare disease, PLGD-1 leads to reduced plasminogen activity levels in the body, often resulting in fibrinous lesions on various organs. Approximately 81% of patients develop lesions on one or both eyes as their primary symptom; however, lesions can develop throughout the body, potentially on all organs with mucous membranes. Patients with PLGD-1 may require lifelong treatment. Soleo Health has 26 pharmacy locations with national nursing coverage and pharmacy licensure in 50 states and is accredited by URAC, ACHC with Distinction in Rare Disease and Orphan Drugs and The Joint Commission. Additionally, the Company operates more than 30 infusion centers throughout the U.S.   

Cardinal Health sees ‘ongoing acceleration’ 

DUBLIN, Ohio – Cardinal Health’s at-Home Solutions operating segment, along with two other segments, reported revenue of $1.2 billion for the third quarter of the company's fiscal year 2024, a 14% increase year over year. The “other” segment, which also includes Nuclear and Precision Health Solutions and OptiFreight Logistics, posted a profit of $11 million, a 5% increase, due to the performance of OptiFreight Logistics. Overall, Cardinal Health reported revenue of $54.9 billion, a 9% increase, with the company’s Pharmaceutical and Specialty Solutions segment leading the way with revenue of $50.7 billion, a 9% increase year over year, and a profit of $580 million, a 4% increase. "In Q3, we delivered broad-based growth, including solid profit growth in Pharmaceutical and Specialty Solutions, on top of an exceptionally strong quarter from a year ago," said Jason Hollar, CEO of Cardinal Health. "We were also pleased to see the ongoing acceleration in GMPD. With confidence in our outlook for the year, we are raising and narrowing our FY24 EPS guidance and providing preliminary guidance for FY25 that reflects the strength and resiliency of our company." Cardinal Health raised and narrowed its fiscal year 2024 guidance range for non-GAAP diluted earnings per share to $7.30 to $7.40, from $7.20 to $7.35. This guidance includes an update to the company's Pharmaceutical and Specialty Solutions segment profit outlook to 8.5% to 9.5% growth, from 7% to 9% growth. Additionally, the company updated expectations for its non-GAAP effective tax rate to a range of 22% to 23%, from 23% to 24%. Cardinal Health expects its “other” segment to record about 10% profit growth in its upcoming fiscal year 2025. 

Rehab Medical opens in Jacksonville 

INDIANAPOLIS – Rehab Medical has launched its seventh location in Florida. The new Jacksonville location will be led by Igor Rodriguez, branch manager, and Tonya Allen, sales manager and assistive technology professional (ATP). "I am extremely excited about the new Jacksonville office and the potential that North-East Florida has,” said Paul Martin, regional vice president of sales. “With Tonya and Igor leading the sales and operations management team we have the foundation for success. With our patient-first approach, we will continue Rehab Medical’s mission of improving lives in the greater Jacksonville area.” Allen, who joined Rehab Medical as a service technician in 2022, previously served mobility users in the northern and western side of Florida. She climbed the ranks to branch manager and now she’s slated to oversee the company’s southern territories. The Jacksonville location is Rehab Medical’s third planned territory expansion for 2024. The company opened a new location in Dallas, its third in Texas, last month. 

Quipt Home Medical implements capital allocation option 

CINCINNATI – Quipt Home Medical has announced the Toronto Stock Exchange has accepted its notice of intention to implement a normal course issuer bid (NCIB). Under the NCIB, the company may purchase for cancellation up to 3,626,845 common shares from time to time in accordance with applicable securities laws, ‎representing approximately 10% of the company’s public float (as defined by the TSX). “We are pleased to announce this NCIB as an additional capital allocation option to enhance long-term shareholder ‎value, which is our management team and board’s top priority,” said CEO and Chairman Greg Crawford. “The NCIB reflects our strong view that our ‎common shares continue to trade at a discount and displays the confidence that we have in our business and its ‎future opportunities. Our continued financial and operational performance, together with our strong balance sheet ‎has put our company in the strongest position that it has ever been, and yet our share price continues to languish. ‎We believe the NCIB provides us with flexibility around capital allocation, particularly during periods in which ‎there may be a disconnect between our share price, relative valuation, and our financial performance. Given our ‎continued confidence in our business model and future growth, along with our strong balance sheet and our view ‎that the market is not properly reflecting the fundamentals of the business, we see the NCIB as a welcome ‎supplement to our strategy. We look forward to continuing our multifaceted approach to growth and ‎opportunistically utilizing the NCIB as an additional option for capital allocation.” The NCIB will commence on May 6‎, 2024, and will terminate upon the earliest of 1) April 30‎, 2025, 2) the company purchasing the maximum of ‎3,626,845 ‎common shares, and 3) the company terminating the NCIB. As of April 30, 2024, the company had ‎42,571,523‎ common shares outstanding. 

Momcozy, 1 Natural Way partner 

LOS ANGELES – A new partnership aims to provide mothers with easy access to free Momcozy breastfeeding equipment and accessories through insurance reimbursement facilitated by 1 Natural Way, a DME provider that specializes in the needs of new mothers. The partnership kicked off on May, coinciding with the launch of 1NW’s new platform to facilitate the procurement of breastfeeding equipment and supplies. “This synergistic collaboration between Momcozy and 1NW represents a significant step forward in supporting maternal health and well-being for all mothers,” the companies stated in a press release. “By providing access to high-quality breast pumps and accessories through insurance reimbursement, the partnership aims to alleviate financial barriers and ensure that mothers receive the support they need during the crucial breastfeeding period.” Momcozy’s S12 PRO DOUBLE and M5 DOUBLE breast pumps will be the first products offered on the new platform. The S12 Pro is free to all insurance plans and the M5 is 100% covered by most insurance plans verified by 1NW.