BY LAUREN UZDIENSKI, JULY 13, 2009
Trans1 pre-announced 2Q:09 sales in the range of $7.9 to $8.0 million, below guidance of $8.7 to $9.0 million and missing analyst projections of $8.8 million. 2Q is also down sequentially from 1Q:09′s $8.7 million. Second quarter sales increased 33% over 2Q:08.
President and CEO Rick Randall attributed the “confusion in the marketplace” about AxiaLIF reimbursement. In their 1Q:09 conference call, the company alluded to a coding change that took effect in January 2009, when the AxiaLIF procedure was given a category III code by the AMA. Category III codes are used for tracking new technology. The change will reduce AxiaLIF’s reimbursements by up to a third.
It should be noted that these reimbursement changes are specific to Trans1 and do not pertain to other ALIF procedures. Trans1 says they are addressing these coding issues with increased education and support resources for surgeons.
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