InfuSystem targets improved efficiency
By HME News Staff
Updated Wed November 15, 2017
MADISON HEIGHTS, Mich. - InfuSystem Holdings reported net revenues of $17.6 million for the third quarter of 2017, a 2.1% increase compared to the same period in 2016. It reported a net loss of $0.1 million for the quarter this year compared to a net income of $0.1 million for the same quarter last year. Breaking down revenues, rentals increased 4.7% and sales decreased 12.4% in the quarter. Management says as the company becomes more efficient at collecting revenues and managing its cost structure, it will become more profitable and further reduce debt. “We have continued to focus on redirecting our strategic emphasis toward efficient use of our pump fleet, improving our billing and collections process, and paying down our bank indebtedness,” said Gregg Lehman, executive chairman of the board. “During the third quarter of 2017, we have made great progress in all these areas, specifically in our revenue collection process and bank indebtedness, as evident by our increased cash collections from our commercial payer business for the second consecutive quarter and our net debt reduction of $2.9 million.”
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