AHP reports losses

Tuesday, June 30, 2009

BRENTWOOD, Tenn.--American HomePatient recently reported $58.3 million in revenue for the first quarter of 2009 compared to $69.2 million for the same quarter in 2008, a 15.8% decrease. Net loss for the first quarter was $5.2 million compared to a net income of $600,000 for the same quarter last year. American HomePatient blamed the revenue decreases on two things: Medicare reimbursement reductions affecting oxygen and other product lines that went into effect Jan. 1, which reduced revenue by about $6.2 million in the first quarter; and a change in inhalation drug product mix resulting from Medicare reimbursement reductions that went into effect April 1, 2008, which reduced revenue by about $3 million.