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Hanger's Business Segments
Hanger's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2022
Reportable Segments
2
Largest Segment
Patient Care
Total Revenue
$ 312
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2022
- Patient Care85.1%
- Products and Services14.9%
Revenue by Reportable Segment - Q2 FY2022
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Patient Care | $ 266 | 85.1% |
| Products and Services | $ 46 | 14.9% |
Revenue by Product & Service Category - Q2 FY2022
- Commercial Insurance / Managed Care (excluding Medicare and Medicaid Managed Care)28.5%
- Medicare26.6%
- Medicaid15.8%
- Distribution services, net of intersegment revenue eliminations11.5%
- VA8.1%
- Private pay6.1%
- Therapeutic solutions3.3%
Revenue by Product & Service Category - Q2 FY2022
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Commercial Insurance / Managed Care (excluding Medicare and Medicaid Managed Care) | $ 89 | 28.5% |
| Medicare | $ 83 | 26.6% |
| Medicaid | $ 49 | 15.8% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Description of Hanger
Hanger Inc. is a healthcare company headquartered in Austin, Texas. It was founded in 1861 by James Edward Hanger, who was the first amputee of the Civil War. The company provides a range of orthotic and prosthetic devices, as well as rehabilitation services, to patients with musculoskeletal issues. Hanger operates more than 800 patient care clinics across the United States and has over 5,000 employees.
The company's prosthetic and orthotic services division manufactures and fits prosthetic and orthotic devices for patients of all ages. The products include artificial limbs, braces, and supports for the upper and lower extremities. The division's technology includes 3D printing, digital scanning, and biomechanical modeling.
Hanger also has a clinical and therapeutic services division, which provides customized rehabilitation and physical therapy programs for patients with limb loss, spinal cord injuries, and other musculoskeletal conditions. These services are provided at Hanger clinics, hospitals, and patient homes.
The company's distribution segment specializes in the sourcing and distribution of parts and components for orthotic and prosthetic devices. They supply a range of products to their clinics, as well as to other specialists and manufacturers.
Hanger has been an active participant in the insurance and reimbursement process for medical devices and services. The company has advocated for policy changes and has worked with insurers to ensure that patients have access to the best possible care.
Overall, Hanger Inc. is a well-established healthcare company with a long history of providing quality care for orthotic and prosthetic patients in the United States. The company's dedication to innovation, patient care, and advocacy has made it a leader in the industry.
The company's prosthetic and orthotic services division manufactures and fits prosthetic and orthotic devices for patients of all ages. The products include artificial limbs, braces, and supports for the upper and lower extremities. The division's technology includes 3D printing, digital scanning, and biomechanical modeling.
Hanger also has a clinical and therapeutic services division, which provides customized rehabilitation and physical therapy programs for patients with limb loss, spinal cord injuries, and other musculoskeletal conditions. These services are provided at Hanger clinics, hospitals, and patient homes.
The company's distribution segment specializes in the sourcing and distribution of parts and components for orthotic and prosthetic devices. They supply a range of products to their clinics, as well as to other specialists and manufacturers.
Hanger has been an active participant in the insurance and reimbursement process for medical devices and services. The company has advocated for policy changes and has worked with insurers to ensure that patients have access to the best possible care.
Overall, Hanger Inc. is a well-established healthcare company with a long history of providing quality care for orthotic and prosthetic patients in the United States. The company's dedication to innovation, patient care, and advocacy has made it a leader in the industry.
Hanger Inc. stands as a prominent entity in the healthcare sector, specifically focusing on orthotic and prosthetic products and rehabilitation services that cater to patients with a variety of disabilities and injuries. This comprehensive approach ensures patients are not only provided with tailored products but also receive a holistic suite of services aimed at enhancing their mobility, improving overall quality of life, and fostering independence.
Segments:
1. Patient Care:
The Patient Care segment is dedicated to delivering orthotic and prosthetic products tailored to individual needs. This includes a variety of braces and customized medical devices designed for patients suffering from physical disabilities that can result from congenital conditions, traumatic injuries, or degenerative diseases. Patient care professionals work closely with each patient to assess their unique requirements and tailor their solutions accordingly.
2. Products & Services:
This segment supplies a wide array of medical devices, equipment, and supplies to healthcare providers, including hospitals and clinical institutions. The Products & Services division ensures that practitioners have access to advanced technologies that facilitate high-quality care for their patients, addressing both immediate and long-term health needs.
3. Foot Care:
Specializing in podiatric services, the Foot Care segment focuses on delivering comprehensive treatment options like custom-made orthotics, nail care treatments, and wound care, particularly for diabetic patients. By providing tailored foot care solutions, Hanger Inc. helps prevent complications and enhance the overall mobility of individuals with foot-related issues.
Products:
1. Prosthetics:
Hanger Inc. presents an extensive line of prosthetic solutions, including upper and lower limb prosthetics, along with mastectomy prosthetics for breast cancer survivors. The company also develops specialized prosthetic devices for military veterans, ensuring they receive the highest level of functionality and comfort tailored to their specific needs.
2. Orthotics:
The orthotic product line consists of custom-made braces, foot inserts, shoe modifications, and various orthotic supports designed to correct or assist physical alignment and mobility. Hangers orthotic solutions are crafted using advanced technology and materials to optimize patient outcomes and comfort.
3. Mobility Solutions:
Hanger Inc. provides an array of mobility products, including wheelchairs, power scooters, adjustable walkers, and patient lifts. These products are designed for patients with mobility restrictions, aiming to enhance their independence and ability to perform daily activities.
4. Pediatric Care:
Recognizing the unique needs of children, Hanger Inc. offers specialized orthotic and prosthetic services for pediatric patients. These services not only address the immediate needs of children but also accommodate for growth and development, ensuring that these young patients receive ongoing support as they age.
5. Sports Medicine:
In the realm of sports medicine, Hanger Inc. provides custom-fitted sports braces to assist athletes at all levels. These products are designed for performance enhancement and injury prevention, enabling athletes to train and compete safely.
Services:
1. Customized Fitting:
Hanger Inc. emphasizes the importance of a precise fit for orthotic and prosthetic devices. The company offers comprehensive fitting services, ensuring that devices are tailored specifically to the individual’s anatomy and lifestyle requirements.
2. Rehabilitation Services:
Hanger Inc. provides a robust array of rehabilitation services, including physical therapy, occupational therapy, speech therapy, and psychological counseling. These services are essential for facilitating recovery and improving overall functionality for patients recovering from injuries or surgeries.
3. Clinical Education:
Hanger Inc. is committed to advancing knowledge and expertise in the orthotics and prosthetics field. The company offers clinical education and training programs, including workshops, seminars, and webinars that focus on the latest methodologies and practices in patient care.
4. Insurance & Billing Services:
To reduce the burden on patients, Hanger Inc. offers comprehensive insurance and billing services that assist in navigating the complexities of healthcare payments and claims. This service aims to streamline the process for patients, ensuring they can access the care they need without unnecessary financial hurdles.
5. Telehealth Services:
The increasing reliance on technology in healthcare has led Hanger Inc. to incorporate telehealth services, enabling patients to connect with healthcare professionals remotely. This convenience allows for continuous care, particularly crucial for those who may have mobility challenges or difficulty accessing traditional care modes.
Conclusion:
In summary, Hanger Inc. is dedicated to delivering a holistic range of orthotic and prosthetic products and services, addressing the diverse needs of patients suffering from various disabilities. The company’s commitment spans across multiple segments including patient care, specialized foot care, and pediatric solutions, supplemented by comprehensive services that aim to optimize rehabilitation, education, and financial management. By providing customized solutions and a full spectrum of support, Hanger Inc. plays a vital role in improving the quality of life for patients, ensuring they have the resources necessary to lead productive, independent lives.
Segments:
1. Patient Care:
The Patient Care segment is dedicated to delivering orthotic and prosthetic products tailored to individual needs. This includes a variety of braces and customized medical devices designed for patients suffering from physical disabilities that can result from congenital conditions, traumatic injuries, or degenerative diseases. Patient care professionals work closely with each patient to assess their unique requirements and tailor their solutions accordingly.
2. Products & Services:
This segment supplies a wide array of medical devices, equipment, and supplies to healthcare providers, including hospitals and clinical institutions. The Products & Services division ensures that practitioners have access to advanced technologies that facilitate high-quality care for their patients, addressing both immediate and long-term health needs.
3. Foot Care:
Specializing in podiatric services, the Foot Care segment focuses on delivering comprehensive treatment options like custom-made orthotics, nail care treatments, and wound care, particularly for diabetic patients. By providing tailored foot care solutions, Hanger Inc. helps prevent complications and enhance the overall mobility of individuals with foot-related issues.
Products:
1. Prosthetics:
Hanger Inc. presents an extensive line of prosthetic solutions, including upper and lower limb prosthetics, along with mastectomy prosthetics for breast cancer survivors. The company also develops specialized prosthetic devices for military veterans, ensuring they receive the highest level of functionality and comfort tailored to their specific needs.
2. Orthotics:
The orthotic product line consists of custom-made braces, foot inserts, shoe modifications, and various orthotic supports designed to correct or assist physical alignment and mobility. Hangers orthotic solutions are crafted using advanced technology and materials to optimize patient outcomes and comfort.
3. Mobility Solutions:
Hanger Inc. provides an array of mobility products, including wheelchairs, power scooters, adjustable walkers, and patient lifts. These products are designed for patients with mobility restrictions, aiming to enhance their independence and ability to perform daily activities.
4. Pediatric Care:
Recognizing the unique needs of children, Hanger Inc. offers specialized orthotic and prosthetic services for pediatric patients. These services not only address the immediate needs of children but also accommodate for growth and development, ensuring that these young patients receive ongoing support as they age.
5. Sports Medicine:
In the realm of sports medicine, Hanger Inc. provides custom-fitted sports braces to assist athletes at all levels. These products are designed for performance enhancement and injury prevention, enabling athletes to train and compete safely.
Services:
1. Customized Fitting:
Hanger Inc. emphasizes the importance of a precise fit for orthotic and prosthetic devices. The company offers comprehensive fitting services, ensuring that devices are tailored specifically to the individual’s anatomy and lifestyle requirements.
2. Rehabilitation Services:
Hanger Inc. provides a robust array of rehabilitation services, including physical therapy, occupational therapy, speech therapy, and psychological counseling. These services are essential for facilitating recovery and improving overall functionality for patients recovering from injuries or surgeries.
3. Clinical Education:
Hanger Inc. is committed to advancing knowledge and expertise in the orthotics and prosthetics field. The company offers clinical education and training programs, including workshops, seminars, and webinars that focus on the latest methodologies and practices in patient care.
4. Insurance & Billing Services:
To reduce the burden on patients, Hanger Inc. offers comprehensive insurance and billing services that assist in navigating the complexities of healthcare payments and claims. This service aims to streamline the process for patients, ensuring they can access the care they need without unnecessary financial hurdles.
5. Telehealth Services:
The increasing reliance on technology in healthcare has led Hanger Inc. to incorporate telehealth services, enabling patients to connect with healthcare professionals remotely. This convenience allows for continuous care, particularly crucial for those who may have mobility challenges or difficulty accessing traditional care modes.
Conclusion:
In summary, Hanger Inc. is dedicated to delivering a holistic range of orthotic and prosthetic products and services, addressing the diverse needs of patients suffering from various disabilities. The company’s commitment spans across multiple segments including patient care, specialized foot care, and pediatric solutions, supplemented by comprehensive services that aim to optimize rehabilitation, education, and financial management. By providing customized solutions and a full spectrum of support, Hanger Inc. plays a vital role in improving the quality of life for patients, ensuring they have the resources necessary to lead productive, independent lives.