Release Date: November 13, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: What caused the unexpected reimbursement preauthorization headwinds, and have these issues been resolved? A: Steven Foster, CEO, explained that the reimbursement issues were due to regional coding confusion. They anticipate that upcoming coding clarity and their clinical data will help resolve these issues. The company views these challenges as transient and expects improvements into 2025.
Q: How does the recently published clinical data impact the reimbursement and preauthorization challenges? A: Steven Foster clarified that while the clinical data reinforces the safety and effectiveness of their technology, it does not directly resolve coding issues. However, the combination of coding clarity and their data should help with coverage issues moving forward.
Q: What feedback have you received from physicians regarding the Catamaran system, and have any changes been made based on this feedback? A: Steven Foster noted that feedback led to the development of the Catamaran SE, a smaller version of the system. This change caters to different physician preferences, allowing them to choose a system that fits their needs, whether they prefer a larger or smaller implant.
Q: Are there plans to expand the sales force, and if so, when will this occur? A: Steven Foster confirmed that they are actively expanding their sales force. This expansion is geographically focused, targeting key opportunities to engage physicians and promote the Catamaran system.
Q: How is Tenon Medical positioned financially to support its growth initiatives? A: Kevin Williamson, CFO, stated that the company has fortified its balance sheet with $9.2 million in cash and no outstanding debt as of September 30, 2024. This financial position supports their growth initiatives, including sales force expansion and the commercial launch of the Catamaran SE.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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