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ResMed sees nothing but ‘tailwind’
April 26, 2024Liz Beaulieu, Editor
SAN DIEGO – The impact of GLP-1 drugs on the CPAP therapy market has stolen the headlines recently, but ResMed Chairman and CEO Mick Farrell says the impact of wearables might be “a higher tidal wave.”
Farrell, on a recent conference call to discuss the company’s financial results for the third quarter of its fiscal year 2024, noted the Samsung Galaxy Watch’s recent de novo authorization from the U.S. Food and Drug Administration to detect signs of sleep apnea...
Option Care details impact of cyberattack
April 26, 2024Theresa Flaherty, Managing Editor
BANNOCKBURN, Ill. – Option Care Health’s cash flow during the first quarter was negatively impacted by the Change Healthcare cyberattack, but the company has not changed its outlook for the full year, executives said on a recent earnings call.
From the date of the cyberattack on February 21 through the rest of the quarter, Option Care was unable to submit more than half its claims, said John Rademacher, president and CEO.
“This has resulted in a detrimental...
Stakeholders secure repair reform in Tennessee
April 26, 2024Liz Beaulieu, Editor
NASHVILLE – A bill that has passed in the Tennessee General Assembly provides “model legislation” for securing coverage and payment for preventative maintenance for complex rehab wheelchairs and paves the way for a larger effort on repair reform, stakeholders say.
The bill requires the state Medicaid program, TennCare, to cover and pay for preventative maintenance once a year, in a move that would help to address the difficulties that some wheelchair users are experiencing...
EW’s Focus is at Heartland
April 26, 2024Theresa Flaherty, Managing Editor
WATERLOO, Iowa – VGM’s Heartland Conference will host Focus at Heartland this year, a change in format for Essentially Women’s annual conference that will allow organizers to “go above and beyond” what they offer women’s health providers, says Nikki Jensen.
“The abundance of resources and thought leaders that we have at Heartland – this is an unprecedented opportunity to bring it to EW members,” said Jensen, vice president of EW, a division...
In brief: Cyberattack update, PBM reform, Medicaid hearing
April 26, 2024HME News Staff
MINNEAPOLIS – Change Healthcare says it has made “strong progress” restoring services impacted by a cyberattack in February.
In the April 22 update, Change Healthcare said that medical claims across the U.S. health system are moving at near-normal levels, as systems come back online or providers switch to other methods of submission. The company said it realizes there are a small number of providers who continue to be adversely impacted and it is working with them to find...
Health care goes OTC
April 26, 2024Theresa Flaherty, Managing Editor
As is par for the course these days, my inbox this month has been filled with diabetes tech announcements: Edgepark is adding a new insulin delivery system to its portfolio, Insulet’s Omnipod is fueling growth and Ascensia is expanding access to its Eversense device by extending its PASS program, which offers a substantial discount for users.
That last one is key: All the technology in the world won’t help if it’s too expensive for people to acquire. And this stuff is expensive...
Upbeat forecast for HME billing systems
April 26, 2024John Andrews
The future of HME billing systems looks bright, market specialists say, with advances in patient portal technology and artificial intelligence expected to play a leading role.
“We're beginning to witness transformative trends that are not only enhancing operational efficiency but also significantly improving patient engagement and satisfaction,” said Joey Graham, chief revenue officer for Charlotte, N.C.-based Prochant.
Patient portal technology, in particular, shows...
ResMed reports double-digit mask revenue
April 25, 2024HME News Staff
SAN DIEGO – ResMed reported revenue of $1.2 billion for the third quarter of fiscal year 2024, a 7% increase compared to the prior year period.
Net income was $300.5 million vs. $232.5 million, a 29% increase.
“ResMed’s strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and software solutions, leading to double-digit mask and accessories revenue growth along with ongoing operational efficiencies to drive margin...
Promotions: Encore Health, CCS
April 25, 2024HME News Staff
LIVINGSTONE, Tenn. – Encore Healthcare has promoted Carrie Proffitt, RRT, to senior vice president of operations. Over the last few years, her role has evolved from clinical operations to overall operations of Encore’s software and service business lines. In her previous role as vice president of clinical operations, Proffitt demonstrated exceptional leadership, dedication and a deep commitment to Encore's mission, the company says.
Dallas-based CCS has named Scott Streator...
Reps. Rodgers, Guthrie put Medicaid under spotlight
April 25, 2024HME News Staff
WASHINGTON – House Energy and Commerce Committee Chair Cathy McMorris Rodgers, R-Wash., and Subcommittee on Health Chair Brett Guthrie, R-Ky., will hold a legislative hearing on April 30 to discuss legislative proposals that will strengthen the Medicaid program for individuals most in need. “Medicaid is indispensable to millions of Americans, particularly those with disabilities who rely on long-term services and supports,” they said in an announcement. “It’s critical...