Providers

YARMOUTH, Maine – Although shortages of respiratory equipment continue to make headlines, driven by a widespread recall on certain CPAP devices and noninvasive ventilators and the ongoing COVID-19 pandemic, providers say they are seeing massive delays in getting equipment across the board.  “Manual wheelchairs, rollators, walkers, scooters – it’s a battle to find pretty much everything,” said Craig Rae, owner of Penrod Medical Equipment in Salisbury, N.C. “A...

Sponsored Content: RALEIGH, N.C. – The market for maternity products is stable, unlike many other sectors of the HME industry right now, making it an attractive area of growth for providers. “There are always people having children—daily,” said Matt Scott, business development manager at Prism Medical Products, a provider in Elkin, N.C., that partners with Motif Medical to offer maternity products to customers. Based in Raleigh, N.C., Motif Medical develops insurance-eligible...

YARMOUTH, Maine – Price increases and freight surcharges have HME providers feeling “squeezed” – and in some cases, looking for other sources of equipment, they say.  “Manufacturers going up on price is a huge burden,” said Kimberly Lynn, operations manager for Carolina Apothecary in Reidsville, N.C. “Reimbursement is not going up, so we’re going to be changing some of our standard products to find one that fits the reimbursement.”   A...

CINCINNATI – With $33 million in cash on hand and a $20 million untapped credit facility, Quipt Home Medical is well positioned to increase scale through acquisitions, company execs said on a recent earnings call.  Most of the deals in Quipt’s current pipeline are in the sub $5 million to $5 million to $10 million range, though execs say the pipeline for $10 million companies is getting larger. Cumulatively, the pipeline totals about $100 million in revenues, says CFO Hardik Mehta.  “Our...

WASHINGTON - Dropping the CMN requirement for home oxygen without ensuring there are objective measures in place to support the need for therapy could expose providers to claim denials and put patient access at risk, says Crispin Teufel, chairman of the Council for Quality Respiratory Care.  “We appreciate the expansion of oxygen coverage, but at the same time, some things worry us, like the subjectivity to which providers are subjected to by contractors and judgment calls,” he...

As the COVID-19 pandemic began to take hold in early 2020, Apria, like most other companies, had no idea what to expect, says CEO Dan Starck.  “It’s been an interesting 17 months,” he said. “We’re still observing all things related to good practice, PPE, contactless delivery. We’re contemplating bringing people back at some point, but that’s the exception right now.”  Starck spoke with HME News recently, reflecting on lessons learned...

CINCINNATI – Quipt Home Medical has reported revenue of $26.2 million for the third quarter of 2021 compared to $18.6 million for the same period last year, a 41% increase.  The company reported net income of $6.3 million compared to a net loss of $2.5 million.  “We continue to produce exceptional results, highlighted by our robust organic growth, driven by the strong execution displayed across the organization, comprised of over 600 dedicated team members,” said...

CINCINNATI – Quipt Home Medical recently acquired a company with operations in Missouri for about $2.25 million in cash, adding three locations, 15,000 active patients, and 1,500 unique referring physicians.  The acquired company reported unaudited trailing 12-month annual revenues of about $5.5 million and an expected adjusted EBITDA of $1.1 million.  “We continue to focus on strategic acquisitions that help to build our footprint across the United States,” said...

NEW YORK – Tomorrow Health has named Rodrigo Arévalo as chief operating officer.   Arévalo has many years of operational experience, including a stint as general manager at Uber in Mexico where he was responsible for launching and scaling Uber’s ride sharing operations in that country. Arévalo has a wealth of knowledge on scaling complex systems and problem solving to grow quickly and sustainably, building complex technology enabled operations in multi-sided...

INDIANAPOLIS – Apria Healthcare saw a healthy rebound in its oxygen and sleep business in the second quarter, and that’s where the company will focus future growth efforts, said CEO Dan Starck on a recent earnings call.  “Our new patient starts on oxygen remained elevated above historical run rates and new sleep patient volumes ran above pre-pandemic levels, while ventilation and negative pressure wound therapy were at or near pre-pandemic levels,” said Starck, who...