HME News

JUN 2018

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

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■ ResMed has named its first CTO: Bobby Ghoshal. See brief below. Medforce acquired by Ideagen . . . . . . . . . . . . . . . . . . . . . . 1 Earnings: Inogen, ResMed . . . . . . . . . . . . . . . . . . . . . . . . . 20 MED Group holds nat'l conference . . . . . . . . . . . . . . . . . . 20 FLYP wins new product award . . . . . . . . . . . . . . . . . . . . . . 21 Vendors 20 hme news / june 2018 / www.hmenews.com Briefs AT s , Res m ed launch sleep fellowship NEW YORK – The ATS Foundation and ResMed have partnered on a new fel- lowship in sleep-disordered breathing and PAP therapy. The ATS Foundation/ ResMed Research Fellowship is made possible through a $100,000 contribution from ResMed. The fellowship application process will open April 26. The ATS Sci- entific Advisory Committee will review applications for their scientific merit, innovation, feasibility and relevance to sleep-disordered breathing and PAP therapy. The $100,000 in funding will span a two-year period, from December 2018 through December 2020. Research backs use of myAirvo device, Fisher & Paykel says AUCKLAND, New Zealand – Fisher & Paykel Healthcare says new research that has been published in the International Jour- nal of COPD shows significant benefits of nasal high flow therapy for COPD patients using its myAir vo device. A randomized controlled trial in Denmark investigated the long-term effects of na- sal high flow therapy for COPD patients already being treated with long-term oxy- gen therapy. The trial showed statistically significant results, including a significant reduction in the exacerbation rate of pa- tients. It also showed a reduction in hos- pitalization rates, less breathlessness, better mobility and lower carbon dioxide retention levels. s hort takes Byram Healthcare will participate in the Preferred Supplier Program with Strati- ce Healthcare. As part of the program, Byram will use Stratice's eOrdersPlus solution to better serve its physician partners and patients with their medi- cal supply needs in urology, diabetes, wound care, ostomy and incontinence... ResMed didn't have to look far to find its first chief technology officer. The company announced April 2 that it had named Bobby Ghoshal as CTO. Ghoshal had been the COO of Brightree, which ResMed bought in 2016...BBMK Tech- nologies, the provider of a cloud-based homecare software solution called Niko- Health, has entered into an agreement with the Allegiance Group. Per the agreement, NikoHealth customers will have access to COLLECTPlus, a propri- etary private-pay billing collections so- lution from the Allegiance Group...VGM Group has launched Industry Matters, a weekly podcast featuring interviews with industry leaders. Recent guests included Ty Bello of Team@Work Coaching and Larry Dalton of the Oklahoma Medical Equipment Providers Association.. The 30-minute podcasts are released every Wednesday through Stitcher Radio, Ap- ple Podcasts and Google Play. Inside look Quantum Rehab has released "Quantum Experiences are Made in America," a new video offering an inside look at its U.S.-based manufacturing facility, process and products. Quantum's com- plex rehab power wheelchairs are custom built to each user's needs in a state-of-the-art, vertically integrated manufacturing facility in Duryea, Pa., along with an additional production facil- ity in Las Vegas, the company says. "We're immensely proud of the made-in-the-USA foundation we've created with Quantum to best serve our customers and engage the tremendous local workforce," said Joe O'Brien, senior vice president of global operations in a press release. Earnings s E ason Inogen raises bar ResMed rides connected health to global market i N O g E N S E E n E x t PA g E By Liz Beau L ieu, e ditor g OLETA, Calif. – Inogen wowed investors with its earnings for the first quarter of 2018—his- torically, a seasonally slower quarter—but company offi- cials cautioned that they face tougher comps for the rest of the year. In a performance that prompted one investor to react, "This is something else," Inogen reported total revenues of $79.1 million for the first quarter, a 50.6% increase com- pared to the same period last year. It reported net income of $10.8 million vs. $5.8 million. "The comps do get tougher for us throughout the year, where the second and third quarter are tougher," said Ali Bauerlein, co-founder and CFO. "The first quarter was certainly the easiest comp for us." Based on its performance, Inogen increased its full year guidance to $310 million to $320 million in total revenues, up from $298 million to $308 By Liz Beau L ieu, e ditor SAN D i E g O – ResMed got a nice boost from Europe and Asia in the third quarter of fiscal year 2018, as growth in the U.S. slowed slightly. In Japan, a revised reimburse- ment system went into effect on April 1 that allows physicians to be paid for remote telemonitor- ing of CPAP patients. "In anticipation of increas- ing demand for telemonitoring capability, our Japanese cus- tomers have stepped up their adoption of the AirView plat- form and AirSense 10 devices, our 100% cloud-connected sleep apnea therapeutic devic- es," said CEO Mick Farrell dur- ing a conference call to discuss the company's financial results for the third quarter of fiscal By Liz Beau L ieu, e ditor M ED G ROUP has host- ed regional confer- ences for its provider members over the years, but to honor its 50th year in busi- ness, it's hosting a national conference in San Antonio July 10-11. The two-day conference, which will have the theme "dedication," will provide networking opportunities and education. "MED has always been ded- icated to the success of the independent HME provider from our beginning," said Rhonda Hines, division vice president. "Everything we do is about their success and sup- porting their commitment to providing the best patient care. We partner with industry lead- ing manufacturers, work with payers to allow members the opportunity to bill and col- lect at a higher reimburse- ment than government payers, and provide business services that help our members reduce costs in their organizations. MED truly is dedicated to the industry and the success of our members." 'This is something else,' said one investor million, representing growth of 24.3% to 28.3% compared to 2017; and to $38 million to $41 million in net income, up from $36 million to $39 mil- lion, representing growth of 80.9% to 95.2%. Inogen reported significant increases in sales for both its domestic direct-to-consum- er (67.8%) and its domestic business-to-business (60.4%) channels. For the DTC chan- nel, company officials credited a growing sales team—"We are currently ahead of schedule to meet our plan of hiring 240 Cleveland-based employees by 2020, with the majority of those being sales reps," said CEO Scott Wilkinson—and an increase in its marketing year 2018. "This was a factor in some of our very strong sales in Japan during Q3." Earlier this year, France began reimbursing more for telemonitored devices. R e s M e d r e p o r t e d 16% growth on a con- s t a n t c u r- rency basis in the third quarter for Europe, Asia a n d o t h e r markets, compared to 8% in the second quarter; it reported 7% growth in the United States, Canada and Latin America, compared to 12% in the sec- ond quarter. "If you think about our U.S. Organization celebrates 50 years of business MED's milestone The conference will also offer provider members a view of "where we've been and look toward the future," Hines says. That view will include MED U, which was launched in 2001 a n d w h i c h h a s g r o w n to more than 190 courses; and the MED N a t i o n a l P a y e r N e t - work, which makes it eas- ier for insur- ance companies and benefit managers to identify providers and which has grown to repre- sent 1,900 provider rooftops. "The payer network has seen double-digit growth over the past five years and we see that tend continuing," Hines said. The view will also include the more recent MED Clini- cal Pathways Program, a part- nership with HealthCall that allows provider members to deliver continuum of care ser- vices and software for post-dis- charge care and chronic care management. "MED has adapted in a Rhonda Hines Mick Farrell R E S m E D S E E n E x t PA g E Scott Wilkinson m E D g R O U P S E E n E x t PA g E

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