NEW YORK, NY / ACCESSWIRE / September 12, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and mid-cap public companies is issuing a comprehensive report with no obligation on BioScrip Inc. (NASDAQ: BIOS), the largest independent national provider of infusion and home care management solutions, with approximately 2,500 teammates and nearly 80 service locations across the U.S. BioScrip partners with physicians, hospital systems, pharmaceutical manufacturers, and skilled nursing facilities to provide patients access to post-acute care services.
Infusion therapy is not currently reimbursed under Medicare and the largest market is the elderly. In July, the US House of Representatives passed HR 3178, the Medicare Part B Improvement Act of 2017. The legislation includes, as Section 101, the Home Infusion Therapy Services Temporary Transitional Payment Act. This provision accelerates the implementation of The CURES Act Section 5014, passed in Congress in December 2016, and will result in Medicare payment for home infusion services beginning in January 2019. The company is looking forward to Senate action on this legislation.
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BioScrip operates to bring customer-focused pharmacy and related healthcare infusion therapy services into the home or alternate-site setting. By collaborating with the full spectrum of healthcare professionals and the patient, BioScrip provides cost-effective care.
As per management, the second quarter of 2017 marks an important milestone for the Company, as BioScrip delivered $10 million of adjusted EBITDA, and a year over year operating cash flow improvement of $23 million, driven by core revenue growth and cost and working capital improvements, positioning it to achieve financial objectives for 2017. The improvements in EBITDA and operating cash flow, despite Cures Act reimbursement pressures, underscore the progress BIOS has made on the turnaround to date.
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