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Archive: February 2016


Also Noted

At Insulet, revenues grow, but so do net losses

February 26, 2016HME News Staff

BILLERICA, Mass. - Insulet Corp. has reported fourth quarter revenues of $100.1 million, representing year-over-year growth of 38%. It has reported full-year revenues of $324.2 million, year-over-year growth of 12%. Revenues from the company's signature product, the OmniPod Insulin Management System, were up 21% in the fourth quarter and 8% for the year. Net loss for the fourth quarter was $27.3 million, compared to a net loss of $5.4 million for the same period in 2014. Net loss for the year was...

financial results, insulet


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Also Noted

NHIA finalizes data definitions

February 26, 2016HME News Staff

ALEXANDRIA, Va. - The National Home Infusion Association has released its final set of Standard Definitions for Patient Outcomes Data to establish national benchmarks. The definitions, developed by a volunteer task force, include: adverse drug reaction, emergency department use, unplanned hospitalization, and medication error. "By collecting uniform data, the home and specialty infusion industry will take an important step toward describing and quantifying the value of home infusion as a critical...

benchmarking, home infusion, national home infusion association, outcomes, standards


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Also Noted

PharMerica's revenues, income blow up

February 26, 2016HME News Staff

LOUISVILLE, Ky. - PharMerica Corp., a provider of pharmacy services, including specialty home infusion, has reported fourth quarter revenues of $520.6 million compared to $523.5 million for the same period in 2014. Net income was $20.2 million vs. $3.2 million. The company reported full-year revenues of $2.03 billion compared to $1.89 billion for 2014. Net income was $35.1 million vs. $6.8 million. PharMerica credited acquisitions, in part, with growing revenues. “During the fourth quarter,...

financial results, home infusion, PharMerica, specialty pharmacy


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Vendors

ResMed gets 'one-two punch' with Brightree

February 26, 2016Liz Beaulieu, Editor

SAN DIEGO - Some may think the price tag too high and the pairing unexpected, but ResMed officials say the company's plan to acquire Atlanta-based Brightree makes all the sense in the world.ResMed announced Feb. 22 that it plans to buy Brightree, a provider of cloud-based business management and clinical software applications to HME companies and home health and hospice agencies, for $800 million, in a cash deal representing a multiple of 18.8x EBITDA, or 13.5x EBITDA with a planned tax benefit of...

Battery Ventures, Brightree, ResMed


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Mobility

CMS stonewalls Congress on accessories

February 26, 2016Tracy Orzel

WASHINGTON - CMS has yet to respond to calls by lawmakers to restore reimbursement for accessories for Group 3 power wheelchairs by March 1, industry stakeholders say.“Congress is very, very frustrated that CMS has stonewalled them,” said Cara Bachenheimer, senior vice president of government relations for Invacare. “They're continuing to pressure CMS on this issue, because it's not a polite request. It's a law.”In January, CMS announced it will use an adjusted fee schedule...

Cara Bachenheimer, CRT accessories, Don Clayback, Seth Johnson


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Specialty Providers

Stakeholders draft legislation to fight vent changes

February 26, 2016Theresa Flaherty, Managing Editor

WASHINGTON - CMS needs to dial back the wholesale changes it has made to ventilators with little input from the industry, stakeholders say.In January, CMS switched from five ventilator codes to two, and reduced reimbursement by about 33%.“When they are creating codes, providers should have some role in that,” said Stephen Cooper, counselor at K&L Gates, a law firm representing about 30 providers. “Right now, it's somewhat of a black box approach.”K&L Gates has drafted legislative...

aahomecare, K&L Gates, kim brummett, Stephen Cooper, ventilators


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Vendors

O2 Concepts gets connected

February 26, 2016Liz Beaulieu, Editor

NEWTOWN, Conn. - O2 Concepts launched its “DNA technology” in September, but already about half of the manufacturer's HME provider customers are taking advantage of it.The technology allows HME providers to log on to any web-enabled device to access data from a Verizon modem in the manufacturer's portable oxygen concentrators. (DNA stands for dynamic network analysis.)Connected devices are the future of home oxygen therapy, said Rob Kent, CEO of O2 Concepts, which has been working on...

O2 Concepts, Rob Kent


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News

In brief: CMS ramps up site visits, Mediware adds analytics

February 26, 2016HME News Staff

WASHINGTON - CMS will strengthen strategies designed to reinforce provider screening activities by increasing site visits to Medicare-enrolled providers and suppliers. The agency says it will enhance and improve IT systems, and implement continuous data monitoring practices to help make sure practice location data is accurate and in compliance with enrollment requirements. More specifically, CMS says it will use National Site Visit Contractor to increase the number of site visits to Medicare-enrolled...

Fisher & Paykel, insulet, Mediware, national home infusion association, neighborhood diabetes, The VGM Group


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Also Noted

Brightree, McKesson to offer interoperability services

February 25, 2016HME News Staff

BOSTON - CommonWell Health Alliance, a not-for-profit trade association of health IT companies, has made its cross-vendor interoperability services available to its members, including Brightree and McKesson, the association announced today. Of the 10 million Medicare beneficiaries who are discharged from acute care hospitals every year, more than 66% have two or more chronic conditions, while 14% have six or more. “This patient population typically requires care from multiple providers in a...

Brightree, Commonwell Health Alliance, McKesson


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Also Noted

Idaho strikes down licensing bill

February 25, 2016HME News Staff

BOISE, Idaho -A bill that would have added new licensing requirements for DME providers in Idaho was voted down this week. The bill, SB 1264, would have required providers to have a location staffed during reasonable business hours, and to have sufficient inventory and staff to service or repair products under the state Board of Pharmacy. Idaho Lt. Gov. Brad Little cast the tie-breaking vote after the Senate deadlocked, according to The Spokesman-Review.

Board of Pharmacy, licensing requirements