Company: INGN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029993
Chunk: 114

Company: Inogen Inc
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 114
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 the Company’s aggregate product warranty liabilities for the years ended December 31, 2024, 2023 and 2022, respectively:  

        December 31,

        2024

        2023

        2022

        Product warranty liability at beginning of period
         
        $
        23,478

        $
        19,913

        $
        13,726

        Accruals for warranties issued

        12,076

        9,843

        10,416

        Adjustments related to preexisting warranties (including changes in estimates)

        280

        5,014

        8,234

        Settlements made (in cash or in kind)

        (9,748
        )

        (11,292
        )

        (12,463
        )

        Product warranty liability at end of period
         
        $
        26,086

        $
        23,478

        $
        19,913

      During the years ended December 31, 2023 and 2022, the Company recorded $5,014 and $8,234 of changes in estimates related to preexisting warranties due to data and information that became available during those years. The changes in estimates were primarily due to the increased cost to repair for all products stemming from the current year inflationary environment and increased product failure rates.Legislation and HIPAA The healthcare industry is subject to numerous laws and regulations of federal, state and local governments. These laws and regulations include, but are not necessarily limited to, matters such as licensure, accreditation, government healthcare program participation requirements, reimbursement for patient services, and Medicare and Medicaid fraud and abuse. Compliance with government laws and regulations can be subject to future government review and interpretation as well as regulatory actions unknown or unasserted at this time. The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was enacted to ensure health insurance portability, reduce healthcare fraud and abuse, guarantee security and privacy of health information, and enforce standards for health information. The Health Information Technology for Economic and Clinical Health Act (HITECH Act), in part, imposes notification requirements of certain security breaches relating to protected health information. The Company is not aware of any pending claims against it under the HIPAA and HITECH regulations that are applicable to the Company’s business.Legal proceedingsThe Company is party to various legal proceedings and investigations arising in the normal course of business. The