Current Report Filing (8-k)
May 16 2022 - 07:33AM
Edgar (US Regulatory)
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of earliest event reported): May 16,
2022
Viemed Healthcare, Inc.
(Exact name of registrant as specified in its charter)
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British Columbia, Canada
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001-38973 |
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N/A |
(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(I.R.S. Employer
Identification No.) |
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625 E. Kaliste Saloom Rd.
Lafayette, Louisiana
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70508
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(Address of principal executive offices) |
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(Zip Code) |
(337) 504-3802
(Registrant’s telephone number, including area
code)
(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
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☐ |
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Common shares, no par value |
VMD
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17
CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
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Item 7.01. Regulation FD
Disclosure
On May 16, 2022, Viemed Healthcare, Inc. (the "Company") issued a
press release providing an update concerning the Company’s appeal
of claims related to findings from the U.S. Department of Health
and Human Services Office of Inspector General (“OIG”) in a May
2021 report (“Report”), the details of which are provided in Item
8.01 below. A copy of the press release is furnished as Exhibit
99.1 to this Current Report on Form 8-K.
In accordance with General Instruction B.2 of Form 8-K, the
foregoing information, including Exhibit 99.1, shall not be deemed
“filed” for the purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), or otherwise subject
to the liabilities of that section, nor shall such information and
Exhibit 99.1 be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in
such a filing.
Item 8.01. Other Events
The Company is providing an update concerning the Company’s appeal
of claims related to findings from the OIG in the Report. Based on
an objective and independent review of patients’ medical records,
the Centers for Medicare and Medicaid Services’ (“CMS”) Qualified
Independent Contractor (“QIC”) responsible for evaluating the
Company’s Reconsideration appeals determined that approximately 77%
of the claims it reviewed were medically necessary and properly
payable under Medicare rules and regulations, overturning OIG’s and
CMS’s initial recommendations and determinations.
In its Report, the OIG alleged that 98% of sampled claims in an
audit of the Company’s non-invasive ventilation patients did not
comply with Medicare requirements and recommended that CMS recoup
funds. Through the statutory appeals process, the Company filed its
Reconsideration appeals to the QIC in November 2021 seeking an
objective and independent review of the OIG and CMS
findings.
Because the initial overpayment determinations utilized OIG’s
statistical extrapolation based on a 98% failure rate, the QIC’s
decisions stated that any remaining overpayment amounts will need
to be recalculated. While the results of the latest appeals
significantly reduce the range of possible losses for Viemed, the
Company awaits communication of recalculated overpayment amounts,
which may require further appeals.
Item 9.01. Financial Statements and
Exhibits
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Exhibit
Number
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Description |
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104 |
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Cover Page Interactive Data File, formatted in Inline XBRL and
included as Exhibit 101 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly
authorized.
Date:
May 16, 2022
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VIEMED HEALTHCARE, INC. |
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By: |
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/s/ Trae Fitzgerald
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Trae Fitzgerald |
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Chief Financial Officer |
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