Setbacks only temporary

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Rotech Healthcare chief says setbacks only temporary
HEALTH CARE
By Harry Wessel, Sentinel Staff Writer

Rotech Healthcare Inc. is down but not out after a series of unfortunate events, including a self-imposed "impairment charge" of $449 million in goodwill because of its decline in market capitalization, and a warning letter from the U.S. Food and Drug Administration that it was committing "serious violations" by operating as a pharmaceutical manufacturer.

The Orlando-based company, which employs about 4,500 nationwide, provides home-based medical equipment and services, including respiratory medications.

The FDA has accused Rotech of operating as a manufacturer rather than a pharmacy in providing its own formulations of commercially available respiratory drugs.
 






Anonymous said:
Rotech Healthcare chief says setbacks only temporary
HEALTH CARE
By Harry Wessel, Sentinel Staff Writer

Rotech Healthcare Inc. is down but not out after a series of unfortunate events, including a self-imposed "impairment charge" of $449 million in goodwill because of its decline in market capitalization, and a warning letter from the U.S. Food and Drug Administration that it was committing "serious violations" by operating as a pharmaceutical manufacturer.

The Orlando-based company, which employs about 4,500 nationwide, provides home-based medical equipment and services, including respiratory medications.

The FDA has accused Rotech of operating as a manufacturer rather than a pharmacy in providing its own formulations of commercially available respiratory drugs.
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Catching up from 2006 ???
 












"The FDA has accused Rotech of operating as a manufacturer rather than a pharmacy in providing its own formulations of commercially available respiratory drugs."

It certainly appears that Rotech was in effect, an illegal drug dealer. Oh well,
Whatever it takes to round up a few bucks.
 






Now I get it. Illegal drugs. What will they think of next.
When the chips are down, anything goes, it would appear. what a company. I guess the new head man is not so smart after all or he would have known about this and cut it off at the pass. or would he?
 






Anonymous said:
Now I get it. Illegal drugs. What will they think of next.
When the chips are down, anything goes, it would appear. what a company. I guess the new head man is not so smart after all or he would have known about this and cut it off at the pass. or would he?
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I think whoever started this post needs to do a little fact-checking; the FDA sent a warning letter in 2006. Rotech hasn't compounded meds in several years.
 






Anonymous said:
I think whoever started this post needs to do a little fact-checking; the FDA sent a warning letter in 2006. Rotech hasn't compounded meds in several years.
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As previously stated in this thread on 1.31.13 in the 6:34 post.

While yes, Rotech was "caught" at that time..it's rather funny to think someone want's to bring up such a lame thing over six years old in an attempt to make Rotech look bad.

They do more than enough on a day to day basis that is new, old stuff really does not need to be brought up as "new".

Remember while there are quite a few AM's & RM's that may cross that line and a few LCM's tossed in...there are CSR's, PST's & SR's who work an honest day and trash talk such as this brings down morale even more.
 












Anonymous said:
AGREED. FOCUS ON THE CURRENT PROBLEMS AT ROTECH, WHICH ARE MANY. OLD STUFF IS JUST THAT.
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Actually, intention of the post was to demonstrate Rotech's never ending/re-occurring mistakes, which end up having expensive long term consequences.

To wit-
Consider the multitudes of physicians, who were talked into prescribing various patient meds, only to have Rotech request switching to other meds when reimbursements dropped........... or a compound was determined illegal.

These very same physicians also happen to prescribe oxygen.

And while it cannot be the case that all of those physicians became wary of prescribing anything to Rotech due to the med fiascos, i'm sure that some of them did.

Submitting med recommendations to physicians from Rotech clinician home visits likely were:
-Seen by physicians for what they in part really were- (revenue generators), and,
-Considered by some physicians as inappropriate that a clinician in repeated fashion "suggests" meds in order to pad Rotech's pockets.

But hey, Let's not talk about issues happening that long ago.......even if it did cause considerable financial losses which in part, are the reason for Rotech's current financial woes.
Let's also not be naive enough as to think that physicians who were around 6 years ago, might no longer be.......or maybe they lost their memories.

What if Rotech had not put so many marbles into the respiratory med business in the first place (looking for an easy buck)?
Would Rotech in turn not have spent money like a drunken sailor, only to have the model eventually backfire?
 






Anonymous said:
Actually, intention of the post was to demonstrate Rotech's never ending/re-occurring mistakes, which end up having expensive long term consequences.

To wit-


AND Whereas, the above stated poster should have.....ha ha ha ha

If that was the intention, then state it up front the info was from 2006.

What is the big deal if Rotech or any DME for that matter pushes one item vs another for growth/money? Rotech is just to stupid at playing the game to make it so darn obvious what they are up to.

Dr's do it each time they push a product that their fav Rep was pushing that week for a med.

Or when they have a PA do their work by seeing a patient/s (most time the Medicaid patient/s at a lesser payment level) and yet still bill for a full "Dr" visit.

In any business there are little "tweaks" going on to make a buck. It's all about the bottom line as any other business is.

It's ok for a hospital to stop providing a direct service when their reimbursement goes down or when they develope a new program when they find out they can bill for a service that had previously been combined with another service....again, it's business.

Rotech is just not as smooth carrying off money making little things like the other DME's.

If there were quality managers throughout Rotech land, they could play with the big boys for a change
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