Tag: Insurance
Cailor Fleming, VGM Specialty Underwriters team up
August 24, 2021HME News Staff
YOUNGSTOWN, Ohio – Cailor Fleming Insurance and VGM Specialty Underwriters have formed an exclusive partnership to meet the needs of members of the American Orthotic and Prosthetic Association, and the O&P and pedorthic professions. “Creating this partnership allows us to serve O&P providers in an even greater capacity,” said Don Foley, owner/operator, Cailor Fleming Insurance. “We’ve developed tailored products and coverage options for the unique needs of...
Three key items to negotiating successful payer contracts
June 26, 2018Guest Commentary
The purpose of this article is to help you, as a provider, to hone in on three key items to look for in payer contracts that will help you to get profitable contracts in place. The three key areas that we will examine are fee schedule amendments, lesser of billed charges vs. contracted rates; term and termination without cause; and claims' payments.Fee ScheduleFee schedules sometimes are RVU based or based upon a percentage of Medicare or based on a percentage of a payer's proprietary fee schedule....
Tashjian Insurance to offer DME insurance
February 19, 2016HME News Staff
MONROVIA, Calif. - The Hanover Insurance Group has chosen Tashjian Insurance Agency to offer Hanover Durable Medical Equipment Advantage, an insurance program for DME providers. "It's often difficult for durable medical equipment providers to find insurance that will appropriately cover their unique risks and exposures,” said Vik Tashjian, president of Tashjian Insurance Agency, in a release. “This enhanced program from Hanover addresses potential coverage gaps that durable medical equipment...
In brief: AAH secures discount, Aeroflow makes buy
October 30, 2015HME News Staff
WASHINGTON - AAHomecare members will receive discounted pricing on DMEPOS surety bonds and liability insurance from VGM insurance, per an agreement hammered out at Medtrade last week. Under the new agreement, AAHomecare memebrs will receive a 10% discount on surety bond and liability insurance premiums. VGM also offers other insurance products specifically for HME providers, including property, business auto, workers' compensation and cyber liability. The agreement is timely, the two groups say,...
AAH secures discount from VGM Insurance
October 30, 2015HME News Staff
WASHINGTON - AAHomecare members will receive discounted pricing on DMEPOS surety bonds and liability insurance from VGM insurance, based on an agreement hammered at Medtrade this week. Under the new agreement, AAHomecare memebrs will receive a 10% discount on surety bond and liability insurance premiums. VGM also offers other insurance products specifically for HME providers, including property, business auto, workers' compensation and cyber liability. The agreement is timely, the two groups say,...
Cailor Fleming, AOPA renew partnership
September 16, 2014HME News Staff
YOUNGSTOWN, Ohio - Cailor Fleming Insurance has renewed its partnership with the American Orthotic & Prosthetic Association (AOPA). Per the partnership, Cailor Fleming will continue to provide the association's members with a wide range of custom designed insurance products, including broad property, umbrella and workers compensation. The new partnership becomes effective Jan. 1 and will last five years. Cailor Fleming also has exclusive relationships with the National Association for the Advancement...
Insurance remains largest revenue generator, according to poll
December 13, 2013Leah Hoenen
YARMOUTH, Maine - Despite reimbursement cuts and heavy audits by insurers, the revenue mix of HME providers isn't as diversified as you'd expect, according to the results of a recent HME NewsPoll.
The largest percentage of respondents to the poll (40%) say they continue to rely on insurance—including Medicare, Medicaid, private-pay, etc.—for 76% to 100% of their revenues.
“We've had a slight increase in retail, but mostly, we've just stayed the same for...
Look on bright side of ACA
October 9, 2013Elizabeth Deprey
OCCC - Despite a government shutdown aimed at defunding The Affordable Care Act (ACA), the program is likely to move forward. That could be a good thing, says The VGM Group's Mark Higley.“It will increase DME sales—there will be 30 million more people with insurance,” said Higley, vice president of development, in his session, “Homecare Employers and Preparation for Compliance with the Affordable Care Act,” on Wednesday.Higley expects that influx to add 4% to an HME...
Allstate Insurance sues slew of DME entities
June 24, 2013HME News Staff
HAUPPAUGE, N.Y. - Allstate Insurance seeks to recover $6.6 million in damages for alleged medical insurance fraud from 47 New York- and Florida-based DME entities and owners, according to a press release. The complaint, filed in the U.S. District Court for the Eastern District of New York, alleges that the DME companies, including 31 retail and 16 DME wholesale companies, submitted or facilitated the submission of fraudulent and misleading bills to Allstate Insurance for reimbursement, the release...
Insurance: Protection equals peace of mind
September 26, 2010Travis Millward
Q. How do we properly insure contents?
A. Something that is often missed on HME policies and other contracts is contents coverage that includes "All Risk" coverage. There are two forms of coverage that are universally used in the industry: One is called "Basic" or "Named Peril" and the other is "Special Form" or "All Risk."
"Basic" is very limited. It includes "Actual Cash Value" limitations, which means a claim is settled on the value of your furniture, fixtures, equipment and stock based on "used"...