Providers

WASHINGTON – As home respiratory providers look past the current public health emergency, they need to have the flexibility and stability to continue caring for patients, says Crispin Teufel, chairman of the Council for Quality Respiratory Care.  “We’ve started to have initial discussions on what happens when this is over,” said Teufel, who is also CEO of Lincare. “If you have set up a patient with COVID, do they need to get...

PLYMOUTH MEETING, Pa. – AdaptHealth has made another large acquisition: Spiro Health, giving it 22 locations in eight states where it doesn’t have much of a presence.  The Massachusetts-based Spiro Health was formed in 2020 with the merger of America's HealthCare at Home, Cape Medical Supply and Health Complex Medical, and is headed up by CEO Gary Sheehan.  “We welcome Gary and the entire Spiro team’”...

PLYMOUTH MEETING, Pa. – AdaptHealth reported net revenue of $482.1 million for the first quarter of 2021, an increase of 152% over the same quarter last year.  Adjusted EBITDA was $104.2 million, a 242% increase, and adjusted EBITDA less patient equipment capex was $61.9 million, a 254% increase.  The company reported a net loss of $4 million for the first quarter of this year versus a net loss of $34.6 million for the same period last year.  “I’m...

PLYMOUTH MEETING, Pa. – AdaptHealth has expanded its credit by $300 million to boost acquisitions and for general corporate purposes.  The company amended its senior secured credit facilities to increase its term loan by $100 million and to expand the maximum borrowing capacity under its revolving credit facility from $250 million to $450 million.   “We appreciate the support of the company’s lenders as we continue to execute on the company’s...

TACOMA, Wash. – When it comes to selling CBD products, provider Destinae Graham believes in putting your money where your mouth is.  “I’m a firm believer in, how can you sell unless you’ve personally tried it?’” said Graham, division manager for Tacoma, Wash.-based American Medical Company & Supply. “I personally was struggling with plantar fasciitis. I had been wearing braces, getting x-rays. (Muscle Mx) gave me some samples, and by day...

NEW YORK – Tomorrow Health’s new partnership with Geisinger Health Plan makes it the “missing link” for the plan’s members by enhancing their experience obtaining home medical equipment and supplies, says co-founder and CEO Vijay Kedar.  Tomorrow Health, which recently closed on $25 million in Series A round funding led by Andreessen Horowitz, will coordinate all medical equipment and supplies for Geisinger’s more...

PLYMOUTH MEETING, Pa. – Luke McGee has been placed on unpaid leave from his roles as co-CEO and director of AdaptHealth after authorities in Denmark formally charged him with alleged tax fraud.  The alleged fraud stems from personal activity that occurred between March 2014 and August 2015, and has no connection to AdaptHealth’s business, according to a statement from the company’s board of directors.  “The board of directors...

YARMOUTH, Maine – An increase in oxygen reimbursement is a shot in the arm for the HME industry, say providers. CMS in March released an updated fee schedule for oxygen that will result in an increase in fee schedule amounts ranging from $6.72 to $8.19 in former competitive bidding areas; $5.17 to $5.43 in other non-rural areas; and $4.14 to $6.82 in non-contiguous and rural areas, according to the VGM Group. “This is a big thing for our industry, and it needs to be celebrated,”...

JOHNSTON, R.I. – Psst, have you heard of Clubhouse, the new invite-only, live audio social media app that has attracted A-listers like Bill Gates and Barack Obama? Dana Lesperance has and he wants his fellow HME providers to hop onboard the app, which allows users to search for different forums or “rooms” that host live discussions on a wide range of topics. “There’s this mystique or aura around it because of the invite-only nature of it,” says Lesperance, director...

INDIANAPOLIS – Apria Healthcare reported that revenue for home respiratory therapy was up 8% in the fourth quarter of 2020, largely driven by an increase in demand for COVID-19 patients, company execs said on a recent earnings call.  New oxygen setups increased 77% during the fourth quarter of 2020, compared to the same quarter in 2019.   “The fourth quarter of 2020 was a record quarter for Apria,” said CFO Debra Morris. “While...