Novita (company)

BioStem Technologies Reports Third Quarter 2022 Operating and Financial Results

Retrieved on: 
Tuesday, November 15, 2022
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POMPANO BEACH, FLORIDA., Nov. 15, 2022 (GLOBE NEWSWIRE) -- BioStem Technologies Inc. (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental derived biologics, today reported financial results for the quarter ended September 30, 2022.

Key Points: 
  • Company to Host a Conference Call and Webcast on November 15, 2022, at 4:30 pm EDT
    POMPANO BEACH, FLORIDA., Nov. 15, 2022 (GLOBE NEWSWIRE) -- BioStem Technologies Inc. (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental derived biologics, today reported financial results for the quarter ended September 30, 2022.
  • Jason Matuszewski, Chief Executive Officer of BioStem Technologies Inc. said, Over the third quarter, we have continued to build on the strengths of our growth strategy.
  • Net revenue of $1.145 million for quarter ended September 30, 2022, down 13%, compared to net revenue of $1.313 million for the quarter ended September 30, 2021.
  • Quarter and Year-to Date ending September 30, 2022 Results:
    The following table represents net revenue, gross margin, operating expenses, and other income (loss) for the three and Nine-months ended September 30, 2022, and September 30, 2021, respectively:
    Three months ended September 30,
    Nine months ended September 30,

Neuronetics Reports Second Quarter 2022 Financial and Operating Results

Retrieved on: 
Tuesday, August 2, 2022
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In the second quarter of 2022, U.S. treatment session revenue per active site was $11,280 as compared to $12,001 during the second quarter of 2021 as a result of an increase in the number of new accounts installing systems in the second quarter of 2022.

Key Points: 
  • In the second quarter of 2022, U.S. treatment session revenue per active site was $11,280 as compared to $12,001 during the second quarter of 2021 as a result of an increase in the number of new accounts installing systems in the second quarter of 2022.
  • Gross margin for the second quarter of 2022 was 75.3%, a decrease of approximately 530 basis points from the second quarter of 2021 gross margin of 80.6%.
  • Operating expenses during the second quarter of 2022 were $22.1 million, an increase of $4.1 million, or 23%, compared to $18.0 million in the second quarter of 2021.
  • EBITDA for the second quarter of 2022 was $(9.1) million as compared to the second quarter of 2021 EBITDA of $(6.3) million.

Neuronetics Announces Positive TMS Coverage Policies to Expand Patient Access to NeuroStar TMS Therapy for Mental Health

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Monday, July 11, 2022
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NeuroStar TMS is a non-drug treatment that can help alleviate the burden of drug-resistant depression.

Key Points: 
  • NeuroStar TMS is a non-drug treatment that can help alleviate the burden of drug-resistant depression.
  • Novitas coverage includes over eight million covered lives in CO, NM, TX, OK, AR, LA, MS, PA, NJ, MD, DE, and DC.
  • The NeuroStar Health Policy Team continues to tirelessly advocate and educate NeuroStar practices on how we can work together to effect changes in coverage.
  • Neuronetics, Inc. believes that mental health is as important as physical health.

Interpace Biosciences Announces Update of Previously Announced CMS Billing Policy Impacting its Thyroid Tests

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Tuesday, February 22, 2022
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As a result, the Company will continue billing for both tests according to its Laboratory Coverage Determination (LCD) as originally set by Novitas.

Key Points: 
  • As a result, the Company will continue billing for both tests according to its Laboratory Coverage Determination (LCD) as originally set by Novitas.
  • According to CMS, this updated policy will be posted on its website and will be included in the July 1, 2022 edit file.
  • Tom Burnell, Interpaces President and CEO stated, We appreciate the prompt consideration of our appeal by NCCI and CMS to prevent any beneficiary access issues for our Medicare covered thyroid testing.
  • We believe this is the correct policy based on the patient management for thyroid patients to allow physicians to help improve care and treatment of their patients.

iRhythm Technologies Comments on Medicare Administrative Contractor 2022 Rate Update

Retrieved on: 
Monday, January 10, 2022
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SAN FRANCISCO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital healthcare solutions company focused on the advancement of cardiac care, commented on the recent update by Novitas Solutions (Novitas), a Medicare Administrative Contractor (MAC), regarding updated rates applicable to the Current Procedural Terminology (CPT) codes 93243 and 93247.

Key Points: 
  • SAN FRANCISCO, Jan. 10, 2022 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ:IRTC), a leading digital healthcare solutions company focused on the advancement of cardiac care, commented on the recent update by Novitas Solutions (Novitas), a Medicare Administrative Contractor (MAC), regarding updated rates applicable to the Current Procedural Terminology (CPT) codes 93243 and 93247.
  • On January 10, 2022, Novitas updated reimbursement rates for CPT codes 93243 and 93247 for the Houston jurisdiction to $223 and $233, respectively.
  • The updated rates demonstrate progress in further understanding costs associated with delivering the Zio service, said iRhythm CEO and President, Quentin Blackford.
  • iRhythm has analyzed the impact these updated 2022 Novitas rates would have had on full year 2021 revenue had those rates been in effect in 2021.

Interpace Biosciences Announces Second Quarter 2021 Financial and Business Results

Retrieved on: 
Tuesday, August 10, 2021
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Company approaching EBITDA breakeven on Higher Clinical Volume, Revenue, Improved Gross Profit and Operating Expense Containment

Key Points: 
  • Company approaching EBITDA breakeven on Higher Clinical Volume, Revenue, Improved Gross Profit and Operating Expense Containment
    PARSIPPANY, NJ, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Interpace Biosciences, Inc. (Interpace or the Company) (OTCQX: IDXG) today announced financial results for the fiscal quarter ended June 30, 2021 and provided a business and financial update.
  • We are extremely pleased with our strong operating results for the first half of 2021.
  • The company is clearly at an exciting inflection point as we approach EBITDA and cash flow breakeven going into the second half of 2021.
  • Second quarter cash collections totaled $11.5 million, outpacing revenue, and Days Sales Outstanding (DSO) has decreased 32% year over year.

iRhythm Technologies Announces Second Quarter 2021 Financial Results

Retrieved on: 
Thursday, August 5, 2021
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SAN FRANCISCO, Aug. 05, 2021 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, today reported financial results for the three months ended June 30, 2021.

Key Points: 
  • SAN FRANCISCO, Aug. 05, 2021 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, today reported financial results for the three months ended June 30, 2021.
  • Cash and Short-Term Investments were $255.7 million as of June 30, 2021, a $6.6 million decrease from March 31, 2021
    Our second quarter results reflected continued strong demand for our Zio platform, as well as solid execution on our operating goals.
  • We also made significant advancements to our technology platform in the second quarter with two new 510k clearances that demonstrate our continued commitment to innovation.
  • Operating expenses for the second quarter of 2021 were $72.3 million, compared to $55.6 million for the same period in 2020.