In brief: Invacare sends work to Mexico, CMS clarifies credit report requirement and more
ELYRIA, Ohio - Invacare is moving the manufacturing of its Solara manual wheelchairs to an existing facility in Reynosa, Mexico, according to news reports last week. The move will allow the company to focus on the improvements that it must make at its facility in Elyria, Ohio, to comply with U.S. Food and Drug Administration (FDA) regulations, spokeswoman Kelly Mize told a local newspaper. Employees who were working on those wheelchairs will be moved to other assignments at the facility, she said. Invacare already manufactures some manual wheelchairs at Invamex.
CMS clarifies credit report requirement
BALTIMORE - After several days of confusion, CMS last week clarified the credit report requirement for Round 2 of competitive bidding. A bulletin from the agency stated: "Credit reports and scores must not be prepared earlier than 90 days prior to the opening of the bid window, but they can be prepared after bidding opens as long as they are received by the competitive bidding implementation contractor (CBIC) by the close of the bid window." The bid window opens Jan. 30; it closes March 30.
ResMed spends big on R&D
SAN DIEGO - ResMed last week reported $332.7 million in revenue for the second quarter ended Dec. 31, 2011, a 9% increase compared to the same quarter in 2010. It reported a net income of $62.9 million, an 8% increase. ResMed reported research and development expenditures of $27.2 million for the quarter ended Dec. 31, a 24% increase compared to the same period in 2010. Additionally, it reported $647.5 million in revenue for the six months ended Dec. 31, a 10% increase compared to the same period in 2010. It reported a net income of $113.4 million, a 2% decrease.
Stakeholders discuss PMD demo concerns with CMS
BALTIMORE - ATG Rehab in Baltimore hosted CMS officials to discuss concerns with the power mobility device (PMD) demonstration project and give them a first-hand look at how the equipment is provided. According to a MAMES bulletin, the 10 officials stayed for 90 minutes and gave positive comments. MAMES also announced that stakeholders will be part of a new workgroup working to update physician educational material for PMD coverage and documentation.
National Diabetes Mall Testing Tour set for February
POMPANO BEACH, Fla. - American Diabetes Wholesale last week said that it has donated $5,000 worth of diabetes testing supplies in support of the "National Diabetes Mall Testing Tour." Celerity chef Charles Mattocks will tour the country to offer free diabetes screening and blood pressure monitoring, and will perform cooking demonstrations. Mattocks serves on ADW's Destination Diabetes advisory board. Cities included in the tour, which kicks off in February: Atlanta; Dallas; Washington, D.C.; Los Angeles; Orlando; and Miami.
Short takes: Growth predictions for wheelchairs, sleep diagnostics
From 2007 to 2012, wheelchair revenue is expected to increase by an average of 5.5% to $2.8 billion, IBISWorld reported last week. In 2012, revenue is expected to grow by 6.2%, driven by a higher level of private healthcare spending. Despite strong growth, the number of manufacturers is projected to decrease by an average of 1.8% per year to 375 firms in 2017, IBISWorld reported. The firm pegs Invacare as the largest player in the market, followed by Sunrise Medical...The global sleep apnea diagnostic systems market was valued at $205.6 million in 2010 and it's expected to grow at a compound annual growth rate of 4.7% to reach $284 million in 2017, GlobalData reported last week. This growth will be driven by the home sleep testing market.