Archive: June 2020
F&P's homecare group sees 9% increase in revenues
June 30, 2020HME News Staff
IRVINE, Calif. - Fisher & Paykel Healthcare reported operating revenue of $1.26 billion for its fiscal year ended March 31, 2020, an 18% increase compared to 2019 or a 14% increase in constant currency.It reported net profit after tax of $287.3 million, a 37% increase in 2020 vs. 2019 or 30% in constant currency.The increase in revenue was largely driven by growth in the use of F&P's Optiflow nasal high flow therapy, demand for products to treat COVID-19 patients and strong hospital hardware sales...
CMS makes first move to permanently incorporate telehealth into care
June 30, 2020HME News Staff
WASHINGTON - CMS is proposing to allow home health agencies to continue to report the costs of telehealth as allowable administrative costs on line 5 of the home health agency cost report, according to a proposed rule. The agency proposes modifying the instructions regarding line 5 to reflect broader use of telecommunications technology. Additionally, CMS proposes to include not only remote patient monitoring but also other communications or monitoring services, consistent with the plan of care for...
AdaptHealth raises capital
June 30, 2020HME News Staff
PLYMOUTH MEETING, Pa. - AdaptHealth has commenced a public offering of 6.5 million shares of its Class A common stock, subject to market and other conditions. In conjunction with the offering, the company intends to grant to the underwriters a 30-day option to purchase up to 975,000 additional shares of Class A common stock. AdaptHealth plans to use the net proceeds from the offering for general corporate purposes, including acquisitions and other business opportunities, capital expenditures and...
AAH provides update on Tricare and COVID-19 relief
June 30, 2020HME News Staff
WASHINGTON - Tricare East contractor Human Military loaded new reimbursement rates authorized by the CARES Act into their system on June 3, according to AAHomecare. Claims from that day forward should reflect the new rates. Humana Military is now working on adjustments retroactive to the start date for the act. AAHomecare has reached out to Tricare West contractor HealthNet for an update on its efforts to implement relief provisions in the CARES Act. Tricare has also confirmed that it's waiving cost...
Trace Medical: 'We can help you get business'
June 29, 2020Liz Beaulieu, Editor
WHITMORE LAKE, Mich. - Trace Medical's provider customers now have access to SunMED Medical Solutions' contracts with hundreds of managed care and other payers for non-invasive and invasive ventilators.Per an agreement, SunMED Medical subcontracts with Trace Medical, and Trace Medical, in turn, subcontracts with their provider customers, says Elliot Campbell senior vice president at Trace Medical.“The process is simple,” he said. “If you're one of our provider customers and you...
Reporter's notebook: Long view, body cams and deadlines
June 29, 2020Liz Beaulieu, Editor
Taking a short and long viewWhile there are “still some fires to put out,” complex rehab stakeholders are shifting part of their focus on longer-term issues related to the coronavirus pandemic, says Don Clayback.“There are real practical challenges that we're encountering, whether you're a customer, a clinician, a supplier or a manufacturer,” said Clayback, executive director of NCART, during a May 14 “CRT Industry and COVID-19 Update” sponsored by NCART, NRRTS,...
Oklahoma: Medicaid cuts don't take rural challenges into consideration
June 29, 2020Theresa Flaherty, Managing Editor
OKLAHOMA CITY, Okla. - Steep Medicaid cuts are scheduled to take effect July 1, despite multiple meetings with Medicaid officials, leading HME providers here to feel their concerns have “fallen on deaf ears.”To comply with the 21st Century Cures Act, the Oklahoma Health Care Authorityplans to take the lowest Medicare competitive bidding rates and apply them across the board, resulting in cuts of up to nearly 50% for some product categories, says Katie Roberts, director for Stillwater-based...
Legal round up: What is price gouging?
June 29, 2020Liz Beaulieu, Editor
MIAMI - Amid the coronavirus pandemic, health care attorney Matthew Fischer has found himself advising clients on matters like pivoting their business to selling PPE.“I have clients whose business has dropped off and they're surviving doing other things,” said Fischer, a partner at Zumpano Patricios. “I have some clients who are selling PPE to keep themselves afloat.”Fischer's helping these clients to negotiate with companies in China and find transport to the U.S.—all...
Decline in HME providers strains those that are left
June 26, 2020Theresa Flaherty, Managing Editor
YARMOUTH, Maine - Medicare's competitive bidding program has decimated their ranks over the past 10 years and now those HME providers that are left are in the middle of a pandemic and facing Round 2021.
The industry has seen a significant decline in providers nationwide since the bid program debuted in 2011, ranging from 48% in Illinois and Arizona to 13% in Maine and Alaska, according to the VGM Group.
“Reimbursement cuts from bidding have made it almost impossible for providers...
Providers on mask tools: They're 'tremendously valuable'
June 26, 2020Theresa Flaherty, Managing Editor
YARMOUTH, Maine - New tools aim to reduce the guesswork when it comes to helping sleep apnea patients get the right masks and maintain compliance, say CPAP providers.ResMed in May launched ResMed MaskSelector to create personalized mask recommendations based on a patient's sleep attributes and facial measurements; Philips Respironics last year launched Philips Mask Selector to leverage 3D technology to find the best mask fit.“(These tools are) tremendously valuable,” says Brad Heath,...