Cardinal Health Reports Q4 & Full-Year Results
Cardinal Health reported its fourth-quarter and full-year results for fiscal year 2023 in a news announcement on Aug. 15.
The company said its fourth-quarter revenue “increased 13 percent to $53.3 billion.” Fourth-quarter generally accepted accounting principles (GAAP) operating earnings were reported as $137 million, “and GAAP diluted loss per share was $0.25,” the announcement said.
The announcement described fourth-quarter revenue for the Medical segment as “flat at $3.8 billion. This reflects a decrease in Products and Distribution sales related to lower PPE [personal protective equipment] volumes and pricing, partially offset by inflationary impacts, including mitigation initiatives.”
Cardinal Health’s announcement added, “This decrease within Products and Distribution was offset by growth in at-Home Solutions. Medical segment profit increased to $82 million in the fourth quarter, driven by an improvement in net inflationary impacts, including mitigation initiatives, and normalization of PPE margins.”
Medtrade 2024 Speakers Deadline Coming Up
As a reminder, the deadline for subject-matter experts to apply to speak at Medtrade 2024 is coming up at month’s end.
Potential presenters need to respond to the call for speakers by Aug. 28. A new format for the 2024 event requires potential speakers to submit information on which pre-selected topics they are qualified to speak on. The categories for 2024 are audits and compliance; business operations; Complex Rehab Technology (CRT); legislative, regulatory, and legal; payer relations; product; and sales and marketing.
Medtrade 2024 is scheduled for March 26-28 in Dallas.
CMS Issues Guidance on Wildfires in Hawaii
In an Aug. 17 bulletin, the Centers for Medicare & Medicaid Services (CMS) shared reminders and information “to assist Durable Medical Equipment, Prosthetics, Orthotics, and Supplies Competitive Bidding Program suppliers who are currently contracted for off-the-shelf back braces for the Honolulu competitive bidding area and who may be impacted by the Hawaii wildfires.”
Noting that Health & Human Services Sec. Xavier Becerra declared a public health emergency on Aug. 11, CMS said it accordingly had “flexibility” in supporting “our beneficiaries in Hawaii, effective retrospectively since Aug. 8, 2023.”
Find resources and additional information on CMS’s Current Emergencies page.