LAFAYETTE, La. — Viemed Healthcare reported second quarter 2022 base net revenue of $33.1 million, an increase of 26% over the same period last year — a “company record “, according to the leaders.
The company increased its number of ventilator patients to 8,837, an increase of 9%.
“I am extremely proud of the robust growth across all product and service lines, highlighting the synergies of our offerings,” said Casey Hoyt, CEO. “We are seeing the release of pent-up demand in the healthcare system, reinforcing the critical need for cost-effective home treatment solutions that keep patients out of hospital settings.”
Viemed reported adjusted EBITDA for the quarter of $6.5 million.
The company also provided an update on the findings of the qualified independent contractor review, related to a report from the Office of Inspector General indicating that most health insurance claims submitted for noninvasive ventilation by the company under its original name, Sleep Management, were not Medicare compliant. terms. Medicare administrative contractors issued recalculated overpayment claims that reduce the disputed exposure to $1.1 million. Viemed has filed an appeal with the administrative judge and intends to continue to defend itself vigorously throughout the remaining appeal proceedings, if necessary.