Current Medicare reimbursement rates are forcing home medical device companies to close their doors, leaving fewer options available to patients.
This fee allows these companies to receive low-cost reimbursement for equipment such as oxygen tanks, walkers, wheelchairs, and sleep apnea machines. Low interest rates have been in place since 2013.
Since then, 27% of New York businesses have closed, according to the American Home Health Care Association.
This story is very moving, with owners using their 401K to pay payroll, having to cut staff, cutting certain lines of equipment, and cutting back on service coverage. There are things like being there. ” said Jay Witter, senior vice president of public policy at AA Homecare. “We're seeing these medical deserts, especially in upstate New York, where it's very rural and it's expensive to get equipment to people when they need it.
Hometown Healthcare, based in Clifton Park, gave us insight into the challenges.
“The burden and challenge is on physicians who are trying to find qualified providers and access services,” Hometown Healthcare CEO Casey Toomadian said. I think when you lose this many people and you lose options, there's very little competition and quality could suffer.”
But a bipartisan bill in Congress would help change those fees, ensuring businesses stay afloat and patients get the care they want.
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“So our members provide equipment to Medicare beneficiaries and are reimbursed by CMS, and that reimbursement rate has been reduced significantly in recent years from over 60% to 70%. It brings us back a little bit,” Witter said.
Toumazian said home medical device companies are one of the few providers who visit patients in their homes, and finding quality care and equipment is important for patients to recover and live well. It added.
“We are a fundamental critical care provider that allows patients to stay at home rather than going into a skilled nursing facility, whether it's a hospital or a long-term care facility,” Toomadian said. Ta. “So everyone agrees that home care is best, and that’s what patients want.
The bill has been introduced in the House and Senate, and policy experts say similar bills have been passed in the past.
The bill must be passed by the end of the year or reintroduced in the next Congress.
