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Viemed HealthcareNASDAQ: VMD outlined its strategy to expand home-based respiratory care, diversify its revenue mix and maintain organic growth during a company presentation led by Chief Executive Officer Casey Hoyt and Chief Operating Officer Todd Zehnder
Hoyt said the company, which was founded about 20 years ago, serves approximately 200,000 patients across all 50 states. Its largest business is complex respiratory care, representing about half of operations. The company provides noninvasive ventilation and in-home respiratory therapy for patients with severe chronic obstructive pulmonary disease, neuromuscular conditions and other respiratory illnesses.
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“Our business in a nutshell is very high touch, high tech,” Hoyt said, describing a model that combines respiratory therapists visiting patients in their homes with connected technology and telehealth capabilities
Complex respiratory care remains the foundation
Hoyt said complex respiratory patients are often at a critical stage of illness and may otherwise have frequent hospital and emergency-room visits. The company’s respiratory therapists use connected devices and tablets to assess patient needs remotely, monitor equipment and determine whether an in-person visit or hospital referral is necessary
The company said its studies have indicated that its therapy can reduce emergency-room visits and hospitalizations, while reporting a 39% all-cause reduction in relative mortality and estimated annual savings of $5,484 per patient for payers. Those findings are available on the company’s website and investor materials
Viemed’s noninvasive ventilation service has less than 10% market penetration, Hoyt said. He cited an estimated 25 million people in the U.S. with COPD and said only about 60,000 Medicare beneficiaries currently receive the company’s NIV-type service. VieMed is the second-largest ventilation provider nationally, he said
The company’s model differs from traditional durable medical equipment providers because its therapists operate from mobile vehicles rather than a large network of brick-and-mortar facilities. Hoyt said this structure supports faster response times and allows the company to use local data, including COPD prevalence, hospital admissions and bed capacity, when selecting markets for expansion
Diversification includes sleep, oxygen and maternal health
While complex respiratory care remains the core business, Hoyt said VieMed has broadened its offerings. Sleep apnea-related products account for roughly 24% of the business, oxygen represents about 10%, and the company also operates staffing and maternal-health businesses
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