Invacare Corporation Announces Investment in Hops - An Automated Management/Field Order Entry Program for Re/Hab Providers
HOPS is designed to help re/hab providers effectively manage the transaction cycle and lower the cost of doing business.
Invacare Corporation (NYSE:IVC), the world's leading manufacturer and distributor of health care products for the non-acute care market, announced today that it has invested in the Headley Order Processing System (HOPS), an automated management/field order entry program that manages the transaction cycle for rehab providers. HOPS is the exclusive system of the Re/hab Management Network (RMN), a newly launched business management network of rehab providers.
"At Invacare, we are concerned about the profitability of our customers who provide rehab equipment and services," said A. Malachi Mixon, III, chairman and chief executive officer. "HOPS will enable rehab providers to more effectively manage the transaction cycle from the initial inquiry all the way through to receipt of payment. We are pleased that through our investment in HOPS, we will be making an important contribution to bringing to market this significant new program that will help so many rehab providers improve the profitability of their business while at the same time meeting their clients' needs in a world class manner."
In addition to investing an undisclosed amount in developing HOPS, Invacare also is the manufacturer of the exclusive line of "Family of Products" (FOP) which is available through RMN and integrated into HOPS.
"The emergence of managed care, reduced reimbursement, and the erosion of the traditional referral, places more importance than ever before on cost-effective product acquisition and distribution for the provider," said Rick Headley, president and chief executive officer of RMN. "That is why we saw the need to develop HOPS.
I am pleased that Invacare is such a strong supporter of HOPS and is providing the additional resources required to bring the program to market in order to assure the future success of the rehab provider and the continued support and service of the rehab client."
Invacare Corporation (NYSE:IVC) is the world's leading manufacturer and distributor of health care products to the non-acute care market through more than 25,000 providers. The company, which had 1998 revenues of $798 million, goes to market in the following channels of distribution: home care, mass retail and institutional. Within these channels of distribution, Invacare participates in the following product segments: Home care, which includes rehab products, respiratory products, manual wheelchairs, home care beds, therapeutic support surfaces and personal care products marketed by Invacare's Home Care Group; Soft Goods and Supplies, which includes ostomy, incontinence, wound care and diabetic supplies marketed by Suburban Ostomy; and Institutional, which includes nursing home beds, patient lifts and slings, nursing home furniture and bathing systems marketed by Invacare Continuing Care Group. The company's headquarters are in Elyria, Ohio, and the firm has manufacturing plants in the United States, Australia, Canada, Denmark, Germany, France, Mexico, New Zealand, Portugal, Sweden, Switzerland and the United Kingdom.