Tag: Viemed
Viemed excels at balancing act
August 11, 2023Theresa Flaherty, Managing Editor
LAFAYETTE, La. – Viemed Healthcare is already seeing gains from its recent acquisition of Home Medical Products and the company is “orchestrating the next chapter of its growth story,” said CEO Casey Hoyt.
Viemed finalized the acquisition of Tennessee-based HMP on June 1 and has worked diligently to integrate its operations and employees, Hoyt says.
“We closed the deal and had our team up at their offices the following week and training their folks on how...
Viemed leverages tailwinds
August 10, 2023HME News Staff
LAFAYETTE, La. – Viemed reported core net revenues of $43.3 million for the second quarter 2023, an increase of 31% compared to one year ago and a new company record.
Net income for the quarter totaled $2.3 million, including approximately $2.5 million of revenues related to its acquisition of Home Medical Products, which it completed June 1. Adjusted EBITDA totaled $9.8 million.
“We find ourselves in an exceptional position, leveraging the prevailing tailwinds in the...
In brief: PAP therapy helps to improve outcomes, indie pharmacies worry about ‘DIR hangover’
June 9, 2023HME News Staff
INDIANAPOLIS – People with heart failure and obstructive sleep apnea can significantly reduce hospitalizations and ER visits, as well as related costs, by being adherent with PAP therapy, according to two recent studies.
The studies were supported by ResMed and presented at SLEEP 2023.
One study analyzed 1,472 people with OSA and systolic heart failure, with exactly half adherent on PAP therapy and half non-adherent. The adherent patients had 24% fewer ER visits and incurred...
Viemed ramps up M&A, eyes MA plans
May 12, 2023Theresa Flaherty, Managing Editor
LAFAYETTE, La. – M&A and MA were hot topics during a recent Viemed earnings call, as company execs outlined what they see as key opportunities for growth going forward.
Viemed’s recently announced acquisition of Tennessee-based Home Medical Products, a large regional provider of respiratory solutions, kicks off the company’s acquisition growth initiatives – a priority for the year ahead, say execs. HMP, which currently serves more than 44,000 patients in Tennessee,...
Viemed invests $2M in value-based care platformÂ
January 16, 2023HME News Staff
LAFAYETTE, La. – Viemed Healthcare has made a strategic investment in ModoHealth, a value-based care and patient management platform connecting payers, patients and post-acute providers.
ModoHealth expects to use the proceeds of the investment to fund the expansion of its proprietary patient management network, which combines clinical tools, remote patient monitoring, data analysis and patient-centric engagement.
“We are incredibly excited to partner with the team at...
In brief: Payment increase, CAIRE expansion, Philips update
December 2, 2022HME News Staff
WASHINGTON – CMS on Dec. 2 announced a 9.1% increase for competitively bid DMEPOS items in non-competitive bidding areas and a 6.4% increase for bid items in former CBAs for calendar year 2023, AAHomecare reports.
Non-bid items will receive an 8.7% increase.
Typically, the CPI-U increases for DME have been 1%-3%. Last year, the inflation adjustment was 5% in former CBAs and 5.4% non-CBAs.
“These increases will help DME suppliers who have been dealing with rising...
In brief: Inogen growth, Permobil expansion, vax requirements
November 5, 2021HME News Staff
GOLETA, Calif. – Inogen reported $93.1 million in total revenue for the third quarter of 2021, up 25.3% from the same period last year.
By business segment, it reported $36.3 million in revenue for domestic direct-to-consumer sales, up 24.6%; and $12.1 million for rentals, up 61.3%.
“I continue to be pleased with the sustained demand we are seeing for our market-leading portable oxygen concentrators, in spite of the challenging supply chain environment,” said Nabil...
Viemed comments on Philips, OIG report
August 6, 2021Theresa Flaherty, Managing Editor
LAFAYETTE, La. – The recent Philips recall on certain CPAP devices and ventilators hasn’t created a disruption for Viemed Healthcare and may even provide an opportunity for growth, said CEO Casey Hoyt during a call to discuss the company’s second quarter earnings.
“Viemed has been proactively acquiring replacement inventory from alternative manufacturers,” he said. “We have always been a device-agnostic company, focused on service rather than equipment,...
In brief: Brooks-LaSure confirmed, SuperCare contract renewed, telehealth monitoring warranted
May 28, 2021HME News Staff
WASHINGTON -- The Senate on Tuesday confirmed Chiquita Brooks-LaSure to head CMS.
Brooks-LaSure served in the Obama Administration, where she helped guide the Affordable Care Act through passage and implementation. She also worked as a Democratic staffer for the Ways and Means Committee in the House of Representatives.
“AAHomecare congratulates Chiquita Brooks-LaSure on her confirmation as CMS Administrator,” said the association. “Her experience in roles at CMS, HHS and on...
In brief: Option Care Health and Viemed results, TexMEP exec, Heartland registration
May 7, 2021HME News Staff
BANNOCKBURN, Ill. – Option Care Health reported revenue of $759.2 million for the first quarter of 2021, an increase of 7.6% compared to $705.4 million for the same period last year.
Gross profit was $165.5 million, or 21.8% of net revenue, and adjusted EBITDA was $52.2 million for the quarter.
“The Option Care Health team delivered solid financial results in the first quarter while continuing to lay the foundation for sustained growth,” said John Rademacher,...