In brief: AAH seeks CPAP change, ATG Rehab buys Chesapeake Rehab
ALEXANDRIA, Va. - AAHomecare has asked CMS to allow HME providers to use an advanced beneficiary notice (ABN) on the first day of CPAP therapy if they think the patient has a high likelihood of noncompliance. Currently, providers must wait until day 60 of CPAP therapy before they can give the patient an ABN. In a June 24 letter to CMS, AAHomecare states: "beneficiaries who are noncompliant in the first eight weeks of therapy typically are disinclined to pay out-of-pocket for the CPAP. Most refuse to sign an ABN so far into the trial. This process creates a difficult situation for the provider who is left without recourse and is a disservice to beneficiaries who fail to invest themselves in the therapy from the start."
ATG Rehab continues buying spree
ROCKY HILL, Conn. - ATG Rehab announced July 1 that it has acquired Baltimore-based Chesapeake Rehab. Chesapeake Rehab has 13 branches in six states. The acquisition--the largest ever by ATG Rehab--brings the company to 41 offices in 24 states. In June, ATG Rehab rolled up the complex rehab division of Rapid City, S.D.-based WestMed Rehab. Chesapeake Rehab President and founder Gary Gilberti will stay on as president of ATG Rehab's new Mid-Atlantic region.
AAH says no thanks to IPAB
ALEXANDRIA, Va. - AAHomecare and other healthcare stakeholders on June 24 asked Congress to eliminate a provision in the Affordable Care Act that would create an Independent Payment Advisory Board (IPAB). The panel would be appointed by the president and would have the power to cut Medicare payments. In a letter, AAHomecare and 270 other signers expressed concern that the IPAB would limit access to care and increase healthcare costs.
The Lewin Group pockets $2.3M to reduce re-admissions
FALLS CHURCH, Va. -The Lewin Group announced last week that CMS has awarded it $2.3 million for the first year of a five-year program to assist hospital and community-based organizations reduce re-admission rates. Hospitals and organizations participating in the community-based Care Transitions Program seek to improve the transition of Medicare beneficiaries from inpatient hospitals to home or other care settings; improve quality of care; reduce hospital re-admissions for high-risk beneficiaries; and achieve measurable savings for the Medicare program.
Brightree grows fast
ATLANTA - Brightree has been chosen by the Association for Corporate Growth Atlanta as the fourth fastest-growing company in Georgia for the second year in a row, the company announced last week. Brightree was selected in the small middle-market category. Winners are selected based on audited financial statements and a sustained record of employee growth over three consecutive years. Brightree's revenues have grown 173% and its employee base has grown 149% during that time, the company stated in a release.
Fastrack: We're new and improved
PLAINVIEW, N.Y. - Fastrack Healthcare Systems last week released the latest version of its Enterprise Software for HME providers. The new version features more than 100 enhancements to increase productivity and to meet new transaction standards for claims submissions that go into effect Jan. 1. Enhancements include a tool that helps providers to analyze trends and predict purchasing requirements, and a direct interface to the VGM Buying Group that allows providers to send patient order information to the group's CPAP dropship program.
Medtrade educational offerings posted
ALPHARETTA, Ga. - The Medtrade 2011 educational conference program is now available online. Visit www.medtrade.com to view the tracks, courses and speakers, and register for this year's event. Medtrade takes place Oct. 24-27 at the Georgia World Congress Center in Atlanta.
Inventory Solutions revamps website
NEW YORK - Inventory Solutions announced last week that it has launched a new and improved website. The new site, www.invsol.com, provides product information, weekly and monthly specials, and a listing of products that Inventory Solutions seeks to purchase from homecare providers. The company provides refurbished respiratory equipment to the homecare industry.
NovaSom gets $35 million
GLEN BURNIE, Md. - NovaSom, a manufacturer and provider of home sleep testing devices and services, has secured $35 million in private equity financing, it announced June 27. NovaSom plans to use the money for growth plans, and develop additional "innovations" within its existing products. The financing comes from Safeguard Scientifics, the TPG Biotechnology II Fund and Quaker BioVentures.