HME News

OCT 2017

HME News is the monthly business newspaper for home medical equipment providers. This controlled circulation publication reaches 17,100 home medical equipment services providers, including traditional HME dealers & suppliers, hospital- and pharmacy-o

Issue link: http://hme.epubxp.com/i/882029

Contents of this Issue

Navigation

Page 28 of 32

■ Invacare's Matt Monaghan expects financial results to stabilize in the second half of 2017. See story below. Mediware snags CEO from UnitedHealth . . . . . . . . . . . . . . 1 Merits Health launches Pilot division . . . . . . . . . . . . . . . . 28 Geriatric Medical completes solar project . . . . . . . . . . . . 28 Q&A: ClearPrice's Pat Sullivan . . . . . . . . . . . . . . . . . . . . . . 28 Vendors 28 hme news / october 2017 / www.hmenews.com Briefs Permobil expands in n Z LEBANON, Tenn. – Permobil has acquired Auckland, New Zealand-based Durable Medical Equipment, Ltd., the largest com- plex rehab company in the country, it has announced. The deal allows Permobil to "increase access to care" in New Zealand. "Permobil is dedicated to building a lead- ing healthcare company by providing ad- vanced rehabilitation technology driving growth through education and outcomes, delivered with passion and first-class service," said Larry Jackson, president of Permobil Business Region Americas. "DME shares this vision, which makes this a strong match. We are excited to welcome DME's employees to the Per- mobil family to further increase access to care in New Zealand." DME was started in 1999. Permobil, which was founded in 1967, currently has 1,500 employees in 17 countries. It is owned by Patricia Indus- tries, a subsidiary of Investor AB, a Swed- ish investment firm. Drive launches online community SANTA FE SPRINGS, Calif. – Inspired by Drive has launched "Live Inspired," an online community for special needs families. It features a weekly guest blog and other resources, and offers families a place to connect. "Our commitment to special needs families goes beyond our prod- ucts," said Matt Lawrence, vice president and general manager. "The Live Inspired community is an extension of our mis- sion to enhance the quality of life of the people we touch and our commitment to families." Pedors launches footwear program ROSWELL, Ga. – Pedors Shoes has intro- duced a Geriatric Footwear Program that provides PTs and OTs with a discount code they can share with their patients to help offset the cost of therapeutic footwear. Pedors believes the program can help to address Medicare's broken audit system and the emergence of e- commerce, which it says have driven or- thotics fitters and pedorthists out of the market and made it harder for patients to find footwear. e Z-Access makes improvements ALGONA, Wash. – EZ-Access has updated its website, www.ezaccess.com, and strengthened its sales team. The com- pany, which makes accessibility solu- tions, worked with VGM Forbin to update its website to improve the experience for current and prospective customers who are searching for products. The website, which was built to perform well on all de- vices, features products segmented by categories, a dealer contact form, a live chat and stronger security. EZ-Access has also added Scott Haisch as West Re- gion Business Manager. CLEARPRICE STRIVES FOR CLARITY Invacare remains conservative Here comes the sun Woburn, Mass.-based Geriatric Medical & Surgical Supply, a distributor of medical supplies, has completed construction on a 585kW solar project on the roof of its facility in Woburn, Mass. The company says it is among the largest roof-mount- ed solar projects completed in the state. The solar project consists of about 1,200 high efficiency solar panels and 540 inverters that will allow Geriatric Medical to produce in excess of 100% of its energy needs and supply the remain- der to other environmentally conscious businesses. Based on projections from the U.S. Environmental Protection Agency, the project will save about 25 million pounds of greenhouse gas by 2040, the company says. Merits builds access division By Liz Beau L ieu, e ditor ELYRIA, Ohio – Despite the excite- ment surrounding its recent clearance by the U.S. Food and Drug Administration to resume full operations at its Taylor Street manufacturing facility, Invacare CEO Matt Monaghan told inves- tors Aug. 8 that the company is By Liz Beau L ieu, e ditor CAPE CORAL, Fla. – The stairlift mar- ket, one dominated by a few long- time players, now has a new play- er: Merits Health Products. Merits Health has launched a home access division called Pilot and its first product offering is a straight stairlift. It has been man- ufacturing a similar product for other companies for 19 years. "So we're not new to this market or this product line," said Chris Blackmore, national director of business and product development for Merits Health. "But at this point, we thought we should have our own division." Merits Health will debut Pilot and the stairlift at Medtrade in October. Pilot plans to leverage Merits Health's existing customer base: The company is best known for its standard manual and power wheelchairs, and a complex rehab division called Avid Rehab, By Liz Beau L ieu, e ditor P AT S U ll I v A n sees no need for re-billing vendors in the workers' compensation market for HME. To prove it, he has launched a company called ClearPrice n etworks to give pro- viders and payers a more direct way to bill and pay. Here's what Sullivan, whose career spans everything from being a claims adjuster to founding a PPO, had to say about why the workers' comp market for HME is growing and how ClearPrice n etworks is 'We want to end the year sequentially flat,' says Matt Monaghan, in wake of news of lifted consent decree still trying to "report some con- servatism." Monaghan expects Invacare's financial results to stabilize in the second half of 2017, but there are a number of factors that are tem- pering a rebound right out of the gate. "I want to end the year sequen- tially flat, quarter-over-quarter, so Q4 over Q3," said Monaghan, also chairman and president. "So we'll see how close we can get on Q3 over Q2." For the six months ended June 30, Invacare reported net sales of $465.2 million this year vs. $532.6 million last year. It reported a net loss of $40.3 mil- lion vs. $20.2 million. Monaghan acknowledged that it's "hard to predict" how quickly providers will "come back" to its line of complex rehab products, which were most affected by the consent decree that limited man- ufacturing from its Taylor Street facility for almost five years. "It's a little hard for us, just 10 Q&A: P A t Sulliv A n on worker S ' com P helping to make it more lucrative for providers. HME N E ws: Why do you see re- billing vendors as an obstacle to the workers' comp market? Pat Sullivan: This is one of the few areas where you don't bill the payer directly and you don't get paid directly. These re-bill- ing vendors essentially pay the DME provider about two-thirds of what they bill the payer and they take 60 to 120 days to do it. In a world where I can Square Cash you money instantaneously, that's unacceptable. HME: But you're still a middleman of sorts, aren't you? Sullivan: When I think of a middleman, I think of some- one who is involved in the financial t r a n s a c t i o n and who takes a piece of it along the way. Obviously, we need to get paid for our services, but we don't touch the money between payer and provider. Pat Sullivan I N v A C A R E E A r n i n G S S E E n E x T PA G E m E R I T S P i l o T S E E n E x T PA G E Q & A : P AT S U l l i v A n S E E n E x T PA G E We've created an electronic world that allows them to do business together. What we get paid is a fraction of what the re-billing vendors are taking. HME: What do you get paid and by whom? Sullivan: There's no fee to the pro- vider. The payer pays us a per- centage of their savings based on the difference between the state fee schedule allowed amount and the ClearPrice n etworks price. That's the same model that has been used in the PPO industry launched in 2015. "Those companies that we're offering a stairlift to, we could already be providing them a power wheelchair or a complex rehab chair," Blackmore said. "We're offering such a complete line now—no other man- u f a c t u r e r i s o f f e r i n g all three of these product lines. We can o f f e r s o m e savings." Merits Health has brought onboard a husband-and-wife team, Andy and l isa Scothern, to head up Pilot. Previously, they worked at Handicare, which manufactures stairlifts, as well as safe patient handling and bath- room safety products. Blackmore also worked at Handicare before helping Merits Health launch Avid Rehab. Pilot and its straight stairlift will make its debut at Medtrade

Articles in this issue

Links on this page

Archives of this issue

view archives of HME News - OCT 2017