News
In brief: Quipt acquisition, CVS’s new strategy, ResMed’s new board members
November 23, 2021HME News Staff
CINCINNATI – Quit Home Medical has executed a non-binding letter of intent to acquire an “arm’s length” private respiratory care company servicing seven states throughout the U.S. reporting unaudited trailing 12-month annual revenues of about $14 million, $1 million in net income and positive adjusted EBITDA.
The acquisition adds a new vertical in long-term care settings, four new states and 165 remote respiratory therapists.
“We continue to strategically...
OIG investigates payments for hospice beneficiaries
November 22, 2021HME News Staff
WASHINGTON – Medicare improperly paid suppliers an estimated $117 million over four years for DMEPOS provided to hospice beneficiaries, according to a new report from the Office of Inspector General.
Specifically, for 58% of the sampled DMEPOS items billed without the GW modifier (67 of 115 items) and 63% of those billed with the GW modifier (54 of 85 items), the items were provided to palliate or manage a beneficiary’s terminal illness and related conditions. The GW modifier...
New year could have shaky start
November 19, 2021Liz Beaulieu, Editor
YARMOUTH, Maine – The opportunities for HME providers in 2022 in a lot of ways hinge on the progress they make on the challenges in 2021, respondents to a recent HME Newspoll say.
That’s because one of the biggest challenges in 2021 – supply chain constraints, and the corresponding increase in pricing and surcharges – is expected to continue into 2022.
“The only thing that we are hoping for in 2022 is the easing of the supply chain issues and the return...
In brief: Philips update, vaccine mandate, premium increase
November 19, 2021HME News Staff
WASHINGTON – The U.S. Food and Drug Administration obtained additional information during an inspection of a Philips’ manufacturing facility that was not previously available to the agency that showed the silicone-based foam used in a singular, similar device marketed outside the U.S. failed one safety test for the release of volatile organic compounds.
Similar testing provided by Philips to the FDA on devices authorized for marketing in the U.S. had demonstrated acceptable results.
“The...
CMS reports decrease in improper payment rates
November 18, 2021HME News Staff
WASHINGTON – The improper payment rate for Medicare fee-for-service is 6.27% or $25.74 billion for fiscal year 2020 compared to 7.25% or $28.91 billion for fiscal year 2019, according to CMS.
The decrease was driven by reductions in the improper payment rates for home health and skilled nursing facility claims, the agency says.
Home health: There was a $5.90 billion decrease in estimated improper payments from 2016 to 2020 due to corrective actions such as policy clarification...
AAHomecare sees increased support for industry advocacy
November 17, 2021HME News Staff
WASHINGTON – AAHomecare has created a new Diamond corporate partner class, with 11 leading HME companies joining to signal their support for industry advocacy.
The Diamond class represents a 25% increase in dues support for AAHomecare’s public policy initiatives over the previous top level, Platinum.
“The 11 companies in the inaugural Diamond partner class are making an unprecedented investment in advocacy efforts to secure sustainable reimbursements and sensible...
CMS announces increase in premiums
November 15, 2021HME News Staff
WASHINGTON – The standard monthly premium for Medicare Part B enrollees will be $170.10 for 2022, an increase of $21.60 from $148.50 in 2021.
The annual deductible for all Medicare Part B beneficiaries will be $233 in 2022, an increase of $30 from the $203 in 2021.
The increases are due to:
Rising prices and utilization across the health care system that drive higher premiums year-over-year alongside anticipated increases in the intensity of care provided.
Congressional...
In brief: Woman of the Year finalists, supply chain relief, Quipt’s acquisition
November 12, 2021HME News Staff
WATERLOO, Iowa – The finalists for this year’s HME Woman of the Year are Trisha Bailey, CEO of Medical Hotspots/Bailey’s Medical; Neidi Mack, vice president for ancillary services at Prism Health Care Services/The Alden Network; Katie Stevens, CEO at Reliable Medical Supply; and Victoria Peterson, administrator at RespMed. “These HME Woman of the Year finalists are leaders in their companies and communities,” said Clint Geffert, president of VGM & Associates. “They...
HIDA calls for further transportation action
November 10, 2021HME News Staff
ALEXANDRIA, Va. – The Health Industry Distributors Association has called for further action to avoid delays in delivering medical supplies to health care providers.
In a letter to the U.S. Department of Transportation, HIDA first thanked the administration for its recent work to expand the business hours of ports.
“Unprecedented transportation delays have hindered reliable and timely movement of medical products,” said Linda Rouse O’Neill, HIDA vice president...
In brief: Inogen growth, Permobil expansion, vax requirements
November 5, 2021HME News Staff
GOLETA, Calif. – Inogen reported $93.1 million in total revenue for the third quarter of 2021, up 25.3% from the same period last year.
By business segment, it reported $36.3 million in revenue for domestic direct-to-consumer sales, up 24.6%; and $12.1 million for rentals, up 61.3%.
“I continue to be pleased with the sustained demand we are seeing for our market-leading portable oxygen concentrators, in spite of the challenging supply chain environment,” said Nabil...