In brief: Higher costs cloud Lincare earnings, AAH comments on overpayments
CLEARWATER, Fla. – Lincare last week reported that net income for the quarter ended March 31, 2012, was flat compared to the same period last year, as higher costs offset double-digit growth in net revenues. The provider reported a net income of $46.4 million for the first quarter this year, about the same amount it reported for the first quarter last year. It reported net revenues of $500.9 million for the first quarter this year, a 16% increase compared to the same period last year. Lincare credits the increase to 17% internal and acquisition growth offset by about 1% negative impact from $2.2 million in Medicare payment reductions in the first quarter this year. Additionally, cost of goods increased to $163.5 million from $124 million a year ago and operating expenses increased to $115 million from $102 million.
AAH comments on overpayments
BALTIMORE – AAHomecare has submitted comments to CMS expressing its concerns with several aspects of a proposed rule that would require providers to report and return overpayments within a specific timeframe. The association is concerned that the proposed rule uses too broad a definition of an overpayment, imposes an "unreasonably" long look-back period, and requires providers to refund disputed payment amounts.
CBIC offers more specific updates
BALTIMORE – The CBIC website, www.dmecompetitivebid.com, now allows users to locate information and receive email updates by certain rounds of competitive bidding. Providers can sign up for email updates on the home page. If you have already registered with the CBIC, go to the email updates link to update your profile and indicate which round(s) you would like to get updates for.
RESNA highlights ultralights
WASHINGTON – RESNA has published a position paper on ultralight manual wheelchairs. The purpose of the paper is to document available research and best clinical practice to assist practitioners in supporting the appropriate application of fully customizable manual wheelchairs. Some highlights: The paper says wheelchairs should conform to the individual and be as lightweight as possible while being fully adjustable; and says that lightweight adjustable wheelchairs cause the least amount of injury to users. The paper is available at http://www.resna.org/resources/position_papers.dot.
CMS: Get those licenses in
BALTIMORE – Providers participating in Round 2 of competitive bidding and/or the national mail order bid must have all applicable state licenses on file with the National Supplier Clearinghouse by May 1. Bids will be disqualified if bidders do not meet all state licensure requirements.
Scooter Store receives accolades
NEW BRAUNFELS, Texas – The Scooter Store has been recognized by Runzheimer International in the area of business vehicle management. It's the fifth time in six years the provider has received the Total Employee Mobility Best Practices Award. In 2011, The Scooter Store managed a fleet of more than 500 vehicles that traveled over 22 million miles.
And the award goes to…
LAS VEGAS – Medtrade Spring officials have announced the product award winners from this year's show: Stander won the Innovation Award for its multiple creative home mobility products for seniors and/or disabled people; the Transcend Sleep Apnea Therapy System received the Provider’s Choice Award for its small size and solar technology for charging batteries; and Dry Corp received the Merit Award for its Dry Pro surgical rubber sleeve that fits over casts, bandages and other things that must remain dry. Also taking home an award: Nova. The California-based makers of mobility, safety and independent living products received a Best Booth award.