Former O2 provider has few misgivings
PEORIA, Ill. - Ken Humphrey, president of Advanced Medical Homecare, hasn't supplied oxygen concentrators for more than two years, and while he misses taking care of respiratory patients, he doesn't miss getting up in the middle of the night to repair broken equipment. Add a 36-month cap on Medicare reimbursement to the mix, and Humphrey has spent much of the past year patting himself on the back.
"I feel like I was playing in the stock market, and I sold at the right time," Humphrey said recently. "If I were to sell now, I'd probably get half what I got, if anything at all."
The 10-year-old Advanced Medical Homecare sold the oxygen part of its business to Lincare. The company continues to provide other HME and, through a side-business called The Back Store, specializes in pressure-relieving mattresses.
President Bush's recent proposal to reduce the oxygen cap to 13 months only reassures Humphrey that he made the right decision.
"There's definitely a sense of comfort," he said.