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HME NEWS / DECEMBER 2011 / WWW.HMENEWS.COM Lincare posts income loss Provider cites higher costs and expenses CLEARWATER, Fla. – Lincare on Oct. 17 reported a net income of $43.6 million for the third quarter ended Sept. 30, 2011, a 4% drop com- pared to the same period last year. The provider reported a net income of $132.8 million for the nine months ended Sept. 30, 2011, a 2% drop compared to the same period last year. In a conference call to dis- cuss earnings, Lincare offi- cials blamed the decrease in net income, despite an increase in net revenues, on higher costs and expenses. Lincare reported net revenues of RETAIL CONTINUED FROM PAGE 19 chain pharmacies. Mullaney had little tear-off pads printed up with his contact informa- tion and store locations that he distributed to the chains. "They love it," he said. "They don't have to try and give directions." Don't forget your most valu- able asset: your employees. Let their personalities shine through. Make sure they can talk to customers and assess their needs. It's also important to give salespeople a reason to sell, says panelist Cindy Ciar- do, CEO of Knueppel Health- Care Services. "We pay 10% on every upgrade," she said. "To move our old inventory, we pay bonuses." HME LEAF CONTINUED FROM PAGE 19 A Turning Leaf offers a full line of durable medical and mobility equipment through its two loca- tions here and in Salem. Patients like the one-stop approach, said Turner, who also added inconti- nence supplies, something she never thought she'd do. "We didn't push for the incon- tinence, but so many patients are requesting it," she said. "I know there isn't big reimbursement, but it puts us into some of the extended care centers and while we are doing that we can educate on sleep apnea as well." Despite the tough economy, Turner said they are doing more home visits and customer out- reach. Looking back on her first, year, she has no regrets about get- ting into the business. "We are having a lot of fun, and I enjoy what I do," said Turner. "Things are good here on the West Coast." HME Become a Quality Champion. Accreditation. There's a better way. HQAA is the only accreditation provider with coaches to review your standards documentation, an Online Workroom to efficiently manage the process, and the ACT Service to maintain high quality standards between accreditation periods. There's a better way. Switch to HQAA. To get started, visit www.HQAA.org/switch or call 866.909.4722. $474.8 million for the third quar- ter, a 13.4% increase compared to the same period last year. It report- ed net revenues of $1.355 billion for the nine months ended Sept. 30, 2011, an 8.7% increase com- pared to the same period last year. The provider credited the increase in net revenues to inter- nal and acquisition growth offset by Medicare payment changes. "We continue to focus on those activities that we believe will drive the long-term success of our company—an emphasis on organic revenue growth and expansion of our product offer- ings across our national network, accompanied by disciplined cost containment and operating effi- ciencies that maximize our oper- ating cash flows," stated CEO John Byrnes in a release. Other activity by Lincare in the The provider generated $217.2 million of cash from oper- nine months ended Sept. 30, 2011: ■ Providers ness acquisitions. ■ $200 million. ■ million. ■ 21 ating activities and invested $95.7 million in net capital expendi- tures and $95.6 million in busi- It repurchased 8 million shares of its common stock for It reported total long-term obligations of $622.5 million, and cash and investments of $56.8 It reported outstanding com- mon shares of 88.9 million. HME