July 8, 2010
“You are not going to get paid for cool ideas. You are not going to get paid for saving lives. You are not going to get paid for anything unless you can prove that you can save them money.”
If that sounds familiar, it may be because I started an editorial with those same words almost a year ago today. Or maybe you heard CardioNet founder (now Patient Safe Solutions CEO) James Sweeney speak at the...
July 7, 2010
More bad news on the reimbursement front for CardioNet and other mobile cardiac outpatient telemetry service providers: United Healthcare told the company that it is maintaining its position that “outpatient cardiovascular telemetry is unproven for managing cardiac arrhythmias" and as a result it will not cover the service for its members. CardioNet, of course, disagrees and promised to continue...
December 15, 2009
CardioNet, a wireless remote cardiac monitoring company, has hired Lazard Freres & Co. of New York to evaluate its options, CEO Randy Thurman told investors on a call this morning. Analysts believe the move means CardioNet may seriously consider a sale.
According to the Wall Street Journal, CardioNet previously had hinted it would consider a sale and Jefferies & Co. analyst Joshua...
November 20, 2009
The Wall Street Journal has an incendiary profile piece on the Jeffries analyst, Brian Kennedy, who predicted that Highmark CMS would cut its reimbursement rate for CardioNet's wireless cardiac monitoring service. CardioNet is the only public company fully focused on wireless health, which makes it a true pioneer for the emerging industry.
While the aftermath that followed Kennedy's April...
July 14, 2009
It's been a tough couple of months for wireless arrhythmia monitoring company CardioNet: The company has terminated its plans to acquire Minnesota-based Biotel, which has its own cardiac arrhythmia monitoring business, an experienced design and development team plus manufacturing capabilities that were set to support CardioNet's growing business. The deal was originally pegged at $14 million but...
July 13, 2009
After months of rumors and analyst speculation, Highmark CMS has, after all, cut the reimbursement rate for wireless cardiac monitoring MCOT services from $1,123.07 to $754. While some analysts have been anticipating a rate drop on the order of about $200 for the past few months, the rate cut was almost double that.
CardioNet, the only pure-play wireless health company that has gone public, is...