Lincare's raking in the money from Medicare
I am just about to shut it down for the weekend, but first I want to share some Medicare data and statistics that that I've been collecting over the past few months for a future project.
Check this out:
* 47% Medicare beneficiaries have income less than 200% of the federal poverty level, which is $21,660 in 2010.
* 45% of Medicare beneficiaries have three or more chronic conditions.
* 24% of Medicare beneficiaries are enrolled in a Medicare managed care program, up from 13% 2005.
* In 2008, 46 HME providers billed Medicare for more than $10 million. In 2009, that number jumped to 54. I suspect the increase is do to consolidation.
* In 2009, Medicare's allowed charges for oxygen concentrators (E1390) totaled $1.8 billion. That's a decrease of 29.67% from 2008.
* Medicare's allowed charges for CPAP (E0601) totaled $213 million in 2009, a 15.84% decline from 2008.
* Medicare's allowed charges for K0823 power wheelchairs dropped 11.77% in 2009 to $547 million.
* Lincare received the most total reimbursement from Medicare in 2009 of all DMEPOS providers: $720 million.
Interesting stuff, isn't it.
Have a great weekend. And if you're looking for something to do Monday and Tuesday, join me in Nashville for the HME News Business Summit.