Fourth Quarter Revenue Up At Apria
INDIANAPOLIS – Apria, Inc.’s fourth quarter net revenue for the year ended December 31, 2021 ticked up 0.9%—from $296.5 million compared to $293.8 million. “We reported solid fourth quarter financial results and 2021 was a good year for Apria,” said Dan Starck, CEO of Apria via press release. “Our team did an excellent job operating and executing at a high level while navigating the challenges from the COVID-19 pandemic, as well as a major product recall and supply chain constraints. Fourth quarter revenue and Adjusted EBITDA were at the high end of our guidance ranges, while Adjusted EBITDA less Patient Equipment Capex was in-line with our expectations.”
During the fourth quarter, Apria continued to be impacted by the Philips recall and the supply chain disruption which slowed new sleep patient starts and new ventilation patient starts in the quarter. “That said, we continue to see strong demand for CPAP and ventilation, and we expect demand will remain strong for the foreseeable future,” Starck said. “Overall, 2021 was a banner year for Apria despite the COVID pandemic and supply chain constraints. I am proud of what we accomplished together in 2021 and we remain steadfast in our mission of Improving the Quality of Life for our Patients at Home.”
NCPA to CMS: Part D Rule Will Fail To Achieve Goals
ALEXANDRIA, VA – In comments submitted last week, National Community Pharmacists Association CEO B. Douglas Hoey, pharmacist, MBA, said independent pharmacies have strong concerns about CMS’ proposed Medicare Part D rule, which includes the latest efforts of the agency to lower out of pocket drug costs for patients and address pharmacy direct and indirect remuneration fees.
Hoey wrote that without incorporating the changes suggested by NCPA, the proposed rule “will fail to achieve its intended goals.” NCPA has advocated for pharmacy DIR fee reform over the past decade, with independent pharmacies having identified this issue for many years as their No. 1 challenge and the biggest threat to their survival.
In his comments Hoey said that CMS must resolve or clarify the following for resulting policy changes to have a positive effect on patients and community pharmacies:
- Ensure transparency of pharmacy reimbursement at the point of sale.
- Close the coverage gap loophole in the proposed rule.
- Address the effects on pharmacy cash flow, which the changes would disrupt.
- Implement appropriate standardized pharmacy performance measures.
- Enforce existing network adequacy and contract provision requirements.
ATHOMES Spring Conference This Week
NASHVILLE, TN – The Association For Tennessee Home Oxygen & Medical Equipment Services (ATHOMES) Spring Conference will take place Wednesday, March 16th – Thursday, March 17th, 2022 at the Millennium Maxwell House Nashville, Nashville, Tenn. Click Here to register.