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NeuroMetrix Inc. Message Board

  • the_dow_bum the_dow_bum Apr 7, 2011 4:38 PM Flag

    Historically: It’s Reimbursement

    The bashers here keep making up a storyline of Nuro as a failure of a company. This is based on a history of the company and its stock price. And when you look at the stock price, it’s obvious this company has not performed to its original expectations since it went public in 2004:
    http://finance.yahoo.com/q/bc?s=NURO&t=my&l=on&z=l&q=l&c=

    Following the first few years of anticipation for its unique product line, this company’s share price has been dominated by one overriding theme: can doctors get reimbursed at an acceptable rate from Medicare and private insurers for performing NC tests? In fact the share price went up in 2009 in anticipation of getting its own Medicare reimbursement code. CPT-95905 was put in effect on January 1, 2010, specifically address sensory nerve
    conduction studies using preconfigured electrodes – that’s only 15 short months ago

    http://www.neurometrix.com/Collateral/Documents/English-US/Internal%20Medicine%20Coding%20Alert%20April%202010%2095905%20Article.pdf

    http://www.neurometrix.com/Collateral/Documents/English-US/NCS%20EMG%20RMB%20Guide%20PN2203294%20Rev%20C.pdf

    Unfortunately the CPT 95905 reimbursement rate of $76 per limb does not cover most doctors’ expenses when the cost of NC-Stat/Advance plus the consumables are included. So obviously, doctor’s usage and number of tests went down.

    But this is exactly where I see the strength of Shai’s new strategy for marketing NC-Stat SL. Give away the device and have the consumable cost down to $15 per test addresses the exact reimbursement flaws that the old marketing strategy suffered. I credit Shai with understanding the reimbursement issue and responding to it in a way that makes sense (& cents) and will grow this company. It is yet to be seen if the new marketing strategy works; but IMO it is just what the doctor ordered. Obviously, the bashers here are set in the old business model and mindset and don’t believe this company can actually evolve with the market.

    -the bum

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    • Historically

      Didn't this company get sued BY 10-15 states for collecting sales taxes for three years, and did not pay a dime until legal action took place.

      Didn't the Federal Gov't sue Neurometrix for illegal sales practices and Neurometrix was fined 3.7 million dollars. Originally the gov't wanted 10M

      How many past employees have or are suing the company....To many to count.

      One of the top investors is currently suing the company Andre Danesh.

      Didn't the company acquire another company called Digiscope and performed very little due diligence and ended up selling the company to a former employee for $50,000 after which was 1/25 of what they paid in stock at the time.

      YOU ARE RIGHT HISTORICALLY ITS ABOUT REIMBURSEMENT, LEGAL ACTION AND JUST PLAIN INCOMPETANCE AND NOTHING HAS CHANGED

 
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