NASHVILLE, Tenn. – Wellspring Capital Management is shopping for a buyer for National Seating & Mobility, according to news reports.
The private equity firm has hired Piper Jaffray, an investment bank and asset management firm offering M&A services, to find a buyer for the complex rehab provider, which it says could be worth $400 million, according to an item on Fortune.com citing The Wall Street Journal.
Wellspring Capital acquired NSM in early 2013. At the time, the provider had 68 branches located across 30 states.
Since then, NSM has rolled up dozens of mobility providers, including, most recently the complex rehab division of Webb Medical Systems in Reading and Allentown, Pa., in February, and Home Medical Equipment in Garden City, N.Y., last November.
NSM has also thrown its hat into the home accessibility market, launching AccessNSM in October. AccessNSM offers stair lifts, wheelchair lifts, ramps, door openers and barrier-free showers through seven locations from Massachusetts to North Carolina.
Bill Mixon took over the reins as CEO of NSM from founder Mike Ballard in July 2015.
WASHINGTON – CMS announced this week that it believes reimbursement cuts implemented Jan. 1 in non-competitive bidding areas have not had a negative effect on beneficiary access.
CMS compared the rate of assignment of claims for DMEPOS items for the first four months of 2015, which were paid at the unadjusted fee schedule rates, to the rate of assignment of claims for the same items for the first four months of 2016, which were paid at the new partially adjusted rates.
“The monitoring data shows that suppliers in all areas where the adjusted DMEPOS fee schedule rates have been implemented have continued to accept these adjusted rates as payment in full, suggesting that the adjusted fee schedule rates continue to be more than adequate in covering the costs of furnishing the DMEPOS items in all areas,” the agency stated.
On Jan. 1, Medicare began paying for HME in regional and rural areas based on a 50/50 blend of the current fee schedule and adjusted rates from its competitive bidding program. On July 1, it will base pricing 100% on adjusted rates.
Overall, there was no change in the rate of assignment for the first four months in 2016 (99.88%) compared to the first four months in 2015 (99.87%). There was also no change in the rate of assignment in rural areas in 2016 (99.9%) compared to 2015 (99.9%). The rate of assignment in non-contiguous areas changed slightly in 2016 (99.81%) compared to 2015 (99.90%).
“CMS believes that the fee schedule adjustments implemented in January have not had a negative impact on beneficiary access to quality items and services,” stated the agency.
CMS says it will continue to monitor data.
SAN DIEGO – ResMed already offers CPAP devices with cloud connectivity and soon it will offer life support ventilators with the same capabilities.
The company announced at the American Thoracic Society conference this week that it plans to bring cloud connectivity and its remote patient monitoring software, AirView, to its Astral life support ventilators later this year.
“Cloud connectivity is a major factor in the future of health care,” said Raj Sodhi, president of the ResMed’s Healthcare Informatics business unit. “We’ve seen the great impact that ResMed’s AirView has had on patient outcomes and business efficiencies related to managing sleep apnea and other respiratory conditions.”
ResMed already has more than 2.5 million of those patients monitored through AirView.
Cloud connectivity will allow physicians and HME providers to access key patient data to better manage and improve the outcomes of the thousands of patients who currently rely on Astral vents at home. They will have the option of accessing patient data through AirView or the ResMed Data Exchange, which allows them to integrate their own electronic medical records with AirView.
Select customers are currently piloting cloud connectivity on Astral vents.
Next, ResMed plans to bring cloud connectivity to the portable oxygen concentrators of Inova Labs, which it acquired earlier this year.