Inogen expects to recoup $2M

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Tuesday, January 10, 2017

GOLETA, Calif. – Inogen expects to recoup up to $2 million in rental revenues for the fourth quarter of 2016 as a result of a provision in the recently passed 21st Century Cures Act. The provision requires CMS to retroactively delay a second round of reimbursement cuts in non-competitive bidding areas from June 30, 2016, to Dec. 31, 2016. The company based its estimate on preliminary, unaudited financial data, it said in a press release. “We are pleased that the Cures Act reverses some reimbursement cuts in 2016 and are encouraged that it calls for a study of the impact of the competitive bidding pricing on rural areas,” said CEO Raymond Huggenberger in the release. The cuts went back into effect Jan. 1, 2017.