Profile: InfuSystem Holdings Inc (INFU.A)
26 May 2017
InfuSystem Holdings, Inc., incorporated on August 15, 2005, is a provider of infusion pumps and related products and services for patients in the home, oncology clinics, ambulatory surgery centers and other sites of care. The Company delivers local, field-based customer support and also operates pump service and repair Centers of Excellence in Michigan, Kansas, California, Texas and Ontario, Canada. The Company's core service is to supply electronic ambulatory infusion pumps and associated disposable supply kits to oncology clinics, infusion clinics and hospital outpatient chemotherapy clinics for the treatment of a range of cancers, including colorectal cancer, pain management and other disease states (Oncology Business). In addition, the Company sells or rents new and pre-owned pole mounted and ambulatory infusion pumps to, and provides biomedical recertification, maintenance and repair services for oncology practices, as well as other alternate site settings, including home care and home infusion providers, skilled nursing facilities, pain centers and others. The Company also provides these products and services to customers in the hospital market. The Company repairs, refurbishes and provides biomedical certification for the devices as needed. The Company operates through subsidiaries, including InfuSystem Holdings USA, Inc. (Holdings), InfuSystem, Inc. (ISI), First Biomedical, Inc. (First Biomedical) and IFC, LLC (IFC).
The Company bills and collects payment from payers and patients for the use of the pumps, after providing ambulatory pumps to oncology offices, infusion clinics and hospital and outpatient chemotherapy clinics. After a physician determines that a patient is eligible for ambulatory infusion pump therapy, the physician arranges for the patient to receive an infusion pump and provides the necessary chemotherapy drugs. The physician and nursing staff train the patient in the use of the pump and initiate service. The physician bills the payers, which include Medicare, Medicaid, third party payer companies or patients for the physician's professional services associated with initiating and supervising the infusion pump administration, as well as the supply of drugs. The Company directly bills payers and patients for copays and deductibles for the use of the pump and related disposable supplies. Billing to payers requires coordination with patients and physicians who initiate the service, as physicians' offices must provide it with paperwork (patient's insurance information, physician's order, an acknowledgement of benefits that shows receipt of equipment by the patient, and, in some cases, physician's progress notes) in order for the Company to bill the payers. The Company provides assistance to those that cannot afford its pumps through a program that matches what the physician practices provide as long as the uninsured patients meet certain criteria.
The Company provides patients with around the clock service and support. Physicians use its services to outsource the capital commitment, pump service, maintenance and billing and administrative burdens associated with pump ownership. The Company provides methods for the physician offices to deliver the paperwork for billing through a number of electronic means, including EXPRESS and InfuConnect. Its pumps are available for daily, weekly, monthly or annual rental periods. The Company also provides biomedical maintenance, repair and certification services for the devices it offers, as well as for devices owned by customers. The Company also offers electronic ambulatory infusion pumps for post-operative pain management using its pumps along with a numbing agent and a continuous nerve block catheter, continuous peripheral nerve block (CPNB).
InfuSystem Holdings Inc
31700 Research Park Dr
MADISON HEIGHTS MI 48071-4627