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Biotech / Medical : Future Medical Device Companies
STXS 2.910-0.3%Oct 31 9:30 AM EST
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From: IRWIN JAMES FRANKEL11/29/2006 4:19:30 PM
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NURO - did not catch these earlier, issues on reimbursement continue:

11:03 NURO NeuroMetrix: Piper Jaffray comments on Noridian clarification (19.14 +0.03) -Update-

Piper Jaffray comments on Noridian Administrative Services' billing clarification with respect to nerve conduction studies performed utilizing NeuroMetrix' NC-stat. They say that similar to recent decisions from Trailblazer and First Coast Service Options, Noridian's decision states that nerve conduction studies done on NC-Stat should be coded to CPT 95999. Consistent with their take on the Trailblazer and First Coast decisions, they believe that Noridian's billing clarification is designed to monitor utilization of NC-Stat. Firm remains positive on the forward outlook but acknowledge that NURO shares could remain volatile in the near-term.

07:16 NURO NeuroMetrix: Noridian joins the fray to bill NC-Stat diagnostic tests under the unlisted 95999 CPT code - Susquehanna (19.11 )

Susquehanna is maintaining their Neutral rating on NURO following the decision by another local Medicare carrier (Noridian) for physicians to bill NC-Stat diagnostic tests under the unlisted 95999 CPT code. They note that this is the third Medicare carrier to ask for the '999 miscellaneous coding, and that this decision was again somewhat unusual from a procedural standpoint in that it appeared as a billing clarification on the Noridian website. As mentioned before, firm was concerned that more decisions from Medicare carriers such as this were likely (and whether positive or negative - both NHIC and Palmetto could still be coming near term). Firm continues to believe that the reimbursement rates in these geographies will likely be lower - although it will likely take more time for this to be confirmed.
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