Tag: Home Medical Equipment (HME)
Newspoll: Medtrade re-establishes presence
April 19, 2024Theresa Flaherty
DALLAS – Back home from attending this year’s Medtrade, the majority of poll respondents who attended (80%) say the show had a positive vibe this year.
“It was easy to feel how many more people were present in general,” wrote one respondent. “Also, seeing many vendors return (in some cases, it had been over a decade!) was very telling.”
Medtrade, which took place March 26-28 at the Kay Bailey Hutchinson Convention Center, drew more than 2,300...
Q&A: Brian Finsterbusch’s commitment beyond conflict
April 19, 2024Tracy Orzel
COLUMBUS, Ohio – Brian Finsterbusch, vice president of sales at JANZ and a former U.S. Army medic, spoke to HME News recently about the company’s $1 million donation in medical supplies and the personal reasons driving his commitment.
HME News: Can you share some of your background as an Army medic?
Brian Finsterbusch: I served as a combat medic stationed at Fort Sam Houston before relocating to Ohio with the 285th Area Support Medical Company. My experiences include...
AdaptHealth names new CEO
April 18, 2024HME News Staff
PLYMOUTH MEETING, Pa. – AdaptHealth has named Suzanne Foster as its CEO, taking over from interim CEO and chairman of the board Richard Barasch.
Ms. Foster will assume leadership of the company from interim CEO and chairman of the board, Richard Barasch, on May 20.
Foster brings more than 25 years of healthcare experience as a purpose-driven leader with a strong-track record of leading growth businesses in the healthcare market, specifically in-home care, life sciences, medical...
Mississippi man charged in $70M Medicare fraud
April 17, 2024HME News Staff
TAMPA, Fla. – Joel Rufus French, 46, of Amory, Miss., has been charged for his alleged role in a fraud scheme of more than $70 million involving the payment of kickbacks and bribes to obtain doctors’ orders for medically unnecessary durable medical equipment. According to court documents, French allegedly managed multiple DME companies without disclosing his role to Medicare. He and his co-conspirators allegedly used the DME companies to bill Medicare for orthotic braces...
Heartland meets attendees where they’re at
April 12, 2024Tracy Orzel
WATERLOO, Iowa – In a strategic shift, the VGM Heartland Conference will open with a greeting from several company leaders, including CEO Jeremy Stolz, to discuss initiatives geared toward helping their members grow.
Among those initiatives, AI has emerged as a critically relevant topic, and attendees can expect several sessions dedicated to exploring its impact and applications.
“We're in the technology revolution right now and it's not going away,” said...
HME industry under strain
March 22, 2024Theresa Flaherty, Managing Editor
WASHINGTON – Industry stakeholders have been reaching out to policymakers to highlight the “disastrous” impacts of the recent Change Healthcare cyberattack, which piled cash flow concerns on top of low reimbursement issues.
“This is a low margin industry and some of these smaller to mid-sized companies don’t have the balance sheet (to sustain themselves for very long) and they have tough choices to make,” said Tom Ryan, president & CEO of AAHomecare. “They’ve...
Cyberattack: ‘This just might be the final straw’
March 15, 2024Liz Beaulieu, Editor
YARMOUTH, Maine – The cyberattack on Change Healthcare has “crippled operations” for HME providers, according to the results of a recent HME Newspoll.
More than 95% of respondents to the poll reported that their cash flow has been impacted by a Feb. 21 cyberattack, which caused Change Healthcare to take its systems offline, affecting their ability to process claims.
“This has not just affected our company, but nearly crippled operations,” wrote...
Joerns sells rental biz in certain states to MasVida
February 28, 2024HME News Staff
CHARLOTTE, N.C. – Joerns Healthcare has entered into a definitive agreement to sell its rental service network in Florida, Georgia, Louisiana, Oklahoma and Texas to MasVida Health.
As part of the transaction, MasVida has acquired Joerns products and associated operational assets in the territory, but Joerns has retained and will continue to operate its medical equipment sales and services business. Joerns will also partner with MasVida to support its expansion moving forward.
"Joerns...
Owens & Minor’s Patient Direct posts 8% increase
February 20, 2024HME News Staff
RICHMOND, Va. – Owens & Minor reported fourth quarter revenue of $664 million for its Patient Direct segment, up 8% compared to the fourth quarter of 2022.
Consolidated revenue was $2.7 billion, an increase of 4%, year-over-year.
“We once again delivered on our commitments and had a strong finish to 2023, demonstrated by our top-line growth across both business segments, robust profit growth and exceptional operating cash flow which allowed us to further strengthen our...
Paragon Ventures marks 30 years
February 14, 2024HME News Staff
NEWTOWN, Pa. – Paragon Ventures is celebrating 30 years of strategic M&A for health care businesses.
The company has successfully completed more than 350 strategic mergers and acquisitions transactions in 45 states and across the continuum of health care, including infusion therapy, behavioral health, medical device, pharmacy, home medical equipment and advanced medical technologies.
“Our 30th anniversary is a testament to the trust placed in us by our clients...