Hanger, Inc. provides orthotic and prosthetic (O&P) patient care services; distributes O&P devices and components; manages O&P networks; and provides therapeutic solutions to the post-acute market. Segments The company operates in two segments, Patient Care, and Products & Services. Patient Care This segment consists of Hanger Clinic, Cares, Dosteon, other related O&P businesses and its contracting network management business. Through this segment, the company owns and operates O&P patient care clinics in the United States; and manages an O&P provider network of approximately 1,150 clinics that coordinates various O&P patient care for insurance companies. As of December 31, 2013, Hanger Clinic provided O&P patient care services through approximately 740 patient care clinics and approximately 1,300 clinicians in 45 states and the District of Columbia. In its orthotics business, the company designs, fabricates, fits, and maintains a range of custom-made braces and other devices (such as spinal, knee and sports-medicine braces) that provide external support to patients suffering from musculoskeletal disorders, such as ailments of the back, extremities or joints and injuries from sports or other activities. In its prosthetics business, the company designs, fabricates, fits, and maintains custom-made artificial limbs for patients who are without limbs as a result of traumatic injuries, vascular diseases, diabetes, cancer or congenital disorders. The principal reimbursement sources for the company’s services are commercial private payors and other, which consist of individuals, rehabilitation providers, commercial insurance companies, HMOs, PPOs, hospitals, vocational rehabilitation, workers' compensation programs and similar sources; Medicare, a federally funded health insurance program providing health insurance coverage for persons aged 65 or older and certain disabled persons, which provides reimbursement for O&P products and services based on prices set forth in published fee schedules with 10 regional pricing areas for prosthetics and orthotics and by state for durable medical equipment; Medicaid, a health insurance program jointly funded by federal and state governments providing health insurance coverage for certain persons based upon financial need, regardless of age, which may supplement Medicare benefits for financially needy persons aged 65 or older; and U.S. Department of Veterans Affairs. The company’s contract and network management business, known as Linkia, is the network management company dedicated solely to serving the O&P market for national and regional insurance companies. The company partners with healthcare insurance companies either as a preferred provider or to manage their O&P network of providers. The company’s network includes approximately 1,150 O&P provider locations in total, composed of approximately 750 Hanger locations and 400 independent providers. As of December 31, 2013, Linkia had 57 contracts with national and regional insurance companies. Products & Services This segment consists of distribution and rehabilitative solutions business. The company’s distribution facilities in California, Florida, Georgia, Illinois, Pennsylvania and Texas allow it to deliver products to the majority of its distribution customers in the United States within two business days. The company’s rehabilitative solutions business develops specialized rehabilitation technologies and is a provider of evidence-based clinical programs for post-acute rehabilitation, serving approximately 4,200 long-term care facilities and other sub-acute rehabilitation providers throughout the United States. This segment also develops neuromuscular technologies through independent research. Through its wholly-owned subsidiary, Southern Prosthetic Supply, the company distributes O&P components both to independent customers and to its own patient care clinics. This business maintains approximately 26,000 individual SKUs in inventory, which are manufactured by approximately 375 different companies, is a fabricator and distributor of therapeutic footwear for diabetic patients in the podiatric market and fa
hanger inc (HGR:New York)
10910 Domain Drive
Austin, TX 78758
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