Rotech reports $2.9 million loss
By HME News Staff
Updated Wed May 31, 2006
ORLANDO, Fla. - Rotech's net revenues inched up to $132.5 million for the first quarter of this year compared to $123.3 million for the same quarter last year. The company also reported a net loss of $2.9 million for the first quarter this year compared to a loss of $3 million for the same quarter last year. Like other national providers, Rotech's financial earnings took a hit due to Medicare reimbursement reductions for respiratory medications, especially reimbursement for compounded budesonide. In all, the reimbursement reductions for respiratory medications delivered a $11.25 million blow to recorded revenues.
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