Viemed sees ‘robust’ growth across business
By HME News Staff
Updated 9:17 AM CDT, Wed August 3, 2022
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LAFAYETTE, La. – Viemed Healthcare reported core net revenues of $33.1 million for the second quarter 2022, a 26% increase over the same period last year – a “company record,” say execs.
The company grew its ventilator patient count to 8,837, a 9% increase.
“I am extremely proud of the robust growth across all lines of products and services, highlighting the synergies in our offerings,” said Casey Hoyt, CEO. “We're seeing the release of pent-up demand in the health care system, re-enforcing the critical need for cost-effective home-based treatment solutions that keep patients out of hospital facilities.”
Viemed reported adjusted EBITDA for the quarter of $6.5 million.
The company also provided an update on the Qualified Independent Contractor's reconsideration findings, related to an Office of Inspector General report saying most of the Medicare claims submitted for non-invasive ventilation by the company under its original name, Sleep Management, did not comply with Medicare requirements. The Medicare Administrative Contractors have issued recalculated overpayment requests that reduce the disputed exposure to $1.1 million. Viemed has filed appeals with the Administrative Law Judge and intends to continue to defend itself vigorously through the remaining appeals processes, as necessary.
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