Revenue Growth and Sales Force Transformation:
-
reported
total revenue of
$13.6 million for the second quarter, a
15% increase year-on-year.
- The growth was driven by the expansion into new sales territories, increased physician and patient awareness of Barostim, and the successful sales force transformation.
Active Implanting Centers and Sales Territories:
- The number of
active implanting centers in the U.S. rose to
240, an increase from
227 at the end of Q1 and
189 by the end of Q2 2024.
- The increase in sales territories, now
47, also contributed to this growth, reflecting the expansion strategy.
Reimbursement Improvements:
- CVRx experienced improvements in reimbursement, including the assignment of Barostim's procedure to APC 1580 and the proposal for an increased physician payment.
- These changes eliminate experimental and investigational denials, improve prior authorization predictability, and enhance physician payment consistency.
Clinical Evidence and Market Awareness:
- The company is advancing clinical evidence through a randomized controlled trial design and educational programs for physicians and advanced practice providers.
- These efforts are aimed at increasing the adoption of Barostim therapy and positioning it as a standard of care in heart failure treatment.
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