The upcoming 34% reduction in Medicare reimbursement in the U.S. has prompted Houston-based medical services provider Bederra to reorganize its Lumar Imaging subsidiary and other holdings.
Bederra has closed its Lumar and Reliant clinics in advance of the Medicare cuts to reduce overhead costs to the company. The U.S. Centers for Medicare and Medicaid Services (CMS) earlier this month announced its Medicare Physician Fee Schedule rates for 2010, which would reduce the program's practice expense per hour (PE/HR) for radiology from the current $204 to $134.84, a drop of 34%, according to the American College of Radiology (ACR) of Reston, VA.
In announcing the closures, Bederra cited technical and electrical problems due to damage from Hurricane Ike a year ago, and the company's inability to renegotiate an acceptable lease arrangement on the facility, as factors that contributed to the decision to reassess the location of the clinic and focus on providing mobile diagnostic services going forward.
According to Bederra, mobile services will have lower overhead and fixed costs and will add greater geographical patient coverage through an expanded network of physicians' offices, clinics, nursing homes, and corporate facilities in the greater Houston area.
The company expects the move also will generate greater revenues and reduce overhead by an estimated $360,000 per year, resulting in greater profitability.
Bederra emphasized that it is not abandoning its clinic-based model and will continue to identify and acquire clinics that complement its mobile diagnostic services.
Still pending is the company's acquisition of Texas Mobile Health, scheduled to close by the end of November. Texas Mobile Health is expected to add approximately $3 million to $4 million to the company's gross annual revenue.
Copyright © 2009 AuntMinnie.com
