In brief: RAC auditors lauded, Inogen secures financing

Friday, April 13, 2012

In brief: RAC auditors lauded, Inogen secures financing
WASHINGTON – The Obama administration announced last week that it met its goal of recapturing $2 billion in overpayments to contractors by the end of this fiscal year nearly six months ahead of time. The administration credits "in large part" the Medicare Fee-for-Service Recovery Audit Contractor (RAC) program, with recovering hundreds of millions of dollars. In a further effort to reduce wasteful spending, the administration launched a Do Not Pay portal at the Department of the Treasury, which all federal agencies are expected to use. The online tool will deploy advanced data matching and analytics to identify and stop wasteful errors before they happen, according to the press release.
Cigna halts acknowledgement letters
WASHINGTON – Cigna, the Jurisdiction C DME MAC announced last week that, as of April 12, it would no longer send acknowledgement letters to providers who submit redetermination requests. The contractor stated the change is an effort to eliminate paper waste and reduce administrative costs. Providers will still have access to information about their requests through the Interactive Voice Response (IVR) unit.
Inogen secures $20 million in financing
SANTA BARBARA, Calif. – Inogen announced April 12 that it has secured $20 million in equity financing from a group of investors led by Novo A/S. The manufacturer will use the funds to expand its sales and patient support resources, spread awareness among oxygen therapy users and invest in R&D and the commercialization of new products. The Denmark-based Novo A/S is an existing investor with Inogen. In 2007, it was part of a group that invested $22 million in the company.
GMEA makes another buy
PHOENIX - Global Medical Equipment of America (GMEA) looked to its own backyard for its latest acquisition, acquiring American Southwest CPM & Medical Supply.
Both companies are based in Phoenix. The deal will give GMEA, a strong presence in that rehab market, stated Harold Halman, CEO of GMEA in a release. In addition to rehab, American Southwest offers a full line of mobility equipment, mattresses, lift chairs and orthotics. GMEA has made several buys over the last six months, most recently in January, when it acquired Allen Medical Supply in Opelousas, La.
ResMed launches cloud-based compliance system
SAN DIEGO – ResMed announced the release of its EasyCare Online compliance management solution April 11. The cloud-based tool aggregates usage and efficacy data from obstructive sleep apnea (OSA) patients who use CPAP. HME providers, sleep labs and other health care providers may then access the data to help manage the patient's OSA.
RemitData and CPR+ partner
DALLAS – RemitData on April 6 announced a partnership with Definitive Homecare Solutions. The partnership will integrate WebScan Pro into Definitive's CPR+ workflow, enabling transparent access from CPR+ into WebScan Pro and vice versa. The companies will then make Titan and Reimbursement Pro available to CPR+ users. The solution will deliver customized alerts based on user measurement requirements, including reimbursement, utilization, benchmarking, productivity and compliance.