BioScrip Applauds US House Passage of HR3178, the Medicare Part B Improvement Act of 2017
July 26 2017 - 08:00AM
BioScrip, Inc. (NASDAQ:BIOS) ("BioScrip" or the "Company"), the
largest independent national provider of infusion and home care
management solutions, today announced 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, two years earlier than originally set by Congress. This
landmark legislation represents the first time that Medicare
provides specific reimbursement for home infusions provided to
Medicare beneficiaries.
“This bill is an important milestone and will improve Medicare
patient access to home infusion therapies,” said Daniel E.
Greenleaf, President and Chief Executive Officer. “BioScrip is
grateful to those Members of Congress who worked to have the bill
pass the House and is looking forward to Senate action on this
legislation that will improve access to high quality home infusion
services to support the health and quality of care for some of the
most critically ill and vulnerable Medicare patients.”
Forward-Looking Statements – Safe Harbor
This press release includes statements that may
constitute "forward-looking statements," that involve substantial
risks and uncertainties. These statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. You can identify these statements by the fact that
they do not relate strictly to historical or current facts. In some
cases, forward-looking statements can be identified by words such
as "may," "should," "could," "anticipate," "estimate," "expect,"
"project," "outlook," "aim," "intend," "plan," "believe,"
"predict," "potential," "continue" or comparable terms. Because
such statements inherently involve risks and uncertainties, actual
future results may differ materially from those expressed or
implied by such forward-looking statements. Investors are cautioned
that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that
actual results may differ materially from those in the
forward-looking statements as a result of various factors.
Important factors that could cause or contribute to such
differences include but are not limited to risks associated with:
the Company’s ability to complete the Private Placement on
acceptable terms or at all, the Company's ability to integrate the
acquisition of Home Solutions, the Company's ability to grow its
core Infusion revenues, the Company's ability to continue to
experience positive results from its financial improvement plan to
reduce operating costs; the Company’s ability to comply with the
covenants in its debt agreements; the success of the Company’s
initiatives to mitigate the impact of the Cures Act on its
business; reductions in federal, state and commercial reimbursement
for the Company's products and services; increased government
regulation related to the health care and insurance industries; as
well as the risks described in the Company's periodic filings with
the Securities and Exchange Commission. The Company does not
undertake any duty to update these forward-looking statements after
the date hereof, even though the Company's situation may change in
the future. All of the forward-looking statements herein are
qualified by these cautionary statements.
About BioScrip
BioScrip, Inc. is 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, payors, pharmaceutical manufacturers and skilled nursing
facilities to provide patients access to post-acute care services.
BioScrip operates with a commitment 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 that is driven by clinical excellence,
customer service, and values that promote positive outcomes and an
enhanced quality of life for those it serves.
Investor Contacts
Stephen Deitsch
Chief Financial Officer & Treasurer
T: (720) 697-5200
stephen.deitsch@bioscrip.com
David Clair
ICR, Inc.
T: (646) 277-1266
david.clair@icrinc.com
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