Rotech chases Apria for DSO crown
ORLANDO, Fla. - When it comes to collecting its money, Rotech is running with some pretty good company these days. For 2003, the company reduced its DSOs to a record low 52 days, according to its year-end financial report released Feb. 25.
That’s only two days more than Apria, and much better than the industry average of about 85 days. During 2003, which CEO Philip Carter called a “remarkable year,” Rotech also reduced its inventory from $21 million to $8 million and repaid $110 million in debt. The company tallied $8 million in net earnings compared to $2 million in 2002. Respiratory therapy represented 85.9% of total revenue for 2003 compared to 79.4% in 2002.