InfuSystem bullish on tech
MADISON HEIGHTS, Mich. – InfuSystem expects to see its investment in technology start paying off in 2016, company execs said during an earnings call in November.
“I’m proud of the IT work we’ve achieved as a small company in just two years,” said CEO Eric Steen. “Our investment in IT and electronic connectivity is attracting customers at a record rate fueling double-digit rental growth, and we expect to start seeing operational efficiencies in 2016.”
The infusion services provider in July launched InfuSystem EXPRESS, its electronic medical record system, at the University of California at San Diego. InfuSystem has also completed integrations with most of the “major” EMR platforms, including EPIC, Cerner, Varian and Altos, says Steen.
Any cash flow freed as a result of IT efforts will be used first to invest in new revenue opportunities, and then to pay debt, said Steen.
For the third quarter 2015, the company reported total net revenues of $18.7 million, a 13% increase over the same period in 2014. Net revenues from rentals during the quarter were $2.3 million, an increase of 16%. Net income was $1.4 million, an increase of 61% over 2014.
Already for the fourth quarter, the company anticipates larger account gains and has already shipped pump sales of $1.2 million, execs said.
“Looking ahead, the future for InfuSystem has never been brighter,” said Steen.