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News Release

BioScrip Applauds US House Passage of HR3178, the Medicare Part B Improvement Act of 2017

July 26, 2017 at 8:00 AM EDT
Legislation Accelerates Medicare Payment of Home Infusion Therapy Services to 2019

DENVER, July 26, 2017 (GLOBE NEWSWIRE) -- BioScrip, Inc. (NASDAQ:BIOS) ("BioScrip" or the "Company"), the largest independent national provider of infusion and home care management solutions, today announced the US House of Representatives passed HR 3178, the Medicare Part B Improvement Act of 2017.  The legislation includes, as Section 101, the Home Infusion Therapy Services Temporary Transitional Payment Act.  This provision accelerates the implementation of The CURES Act Section 5014, passed in Congress in December 2016, and will result in Medicare payment for home infusion services beginning in January 2019, two years earlier than originally set by Congress.  This landmark legislation represents the first time that Medicare provides specific reimbursement for home infusions provided to Medicare beneficiaries.

“This bill is an important milestone and will improve Medicare patient access to home infusion therapies,” said Daniel E. Greenleaf, President and Chief Executive Officer. “BioScrip is grateful to those Members of Congress who worked to have the bill pass the House and is looking forward to Senate action on this legislation that will improve access to high quality home infusion services to support the health and quality of care for some of the most critically ill and vulnerable Medicare patients.”

Forward-Looking Statements – Safe Harbor

This press release includes statements that may constitute "forward-looking statements," that involve substantial risks and uncertainties. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts. In some cases, forward-looking statements can be identified by words such as "may," "should," "could," "anticipate," "estimate," "expect," "project," "outlook," "aim," "intend," "plan," "believe," "predict," "potential," "continue" or comparable terms. Because such statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Important factors that could cause or contribute to such differences include but are not limited to risks associated with: the Company’s ability to complete the Private Placement on acceptable terms or at all, the Company's ability to integrate the acquisition of Home Solutions, the Company's ability to grow its core Infusion revenues, the Company's ability to continue to experience positive results from its financial improvement plan to reduce operating costs; the Company’s ability to comply with the covenants in its debt agreements; the success of the Company’s initiatives to mitigate the impact of the Cures Act on its business; reductions in federal, state and commercial reimbursement for the Company's products and services; increased government regulation related to the health care and insurance industries; as well as the risks described in the Company's periodic filings with the Securities and Exchange Commission. The Company does not undertake any duty to update these forward-looking statements after the date hereof, even though the Company's situation may change in the future. All of the forward-looking statements herein are qualified by these cautionary statements.

About BioScrip

BioScrip, Inc. is the largest independent national provider of infusion and home care management solutions, with approximately 2,500 teammates and nearly 80 service locations across the U.S. BioScrip partners with physicians, hospital systems, payors, pharmaceutical manufacturers and skilled nursing facilities to provide patients access to post-acute care services. BioScrip operates with a commitment to bring customer-focused pharmacy and related healthcare infusion therapy services into the home or alternate-site setting. By collaborating with the full spectrum of healthcare professionals and the patient, BioScrip provides cost-effective care that is driven by clinical excellence, customer service, and values that promote positive outcomes and an enhanced quality of life for those it serves.


Investor Contacts

Stephen Deitsch
Chief Financial Officer & Treasurer
T: (720) 697-5200
stephen.deitsch@bioscrip.comDavid ClairICR, Inc.
T: (646) 277-1266

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