Organizing North America Sales into a Physician ™s Office sales group supporting primary care, internal medicine, endocrinology, and rheumatology, and a Neurointerventional sales group supporting neurology, physical medicine and rehabilitation and orthopedics. Initiating a field clinical education group to supplement the Physician ™s Office sales force and provide direct clinical support to customers. Redirecting Physician ™s Office sales representatives to focus primarily on new account acquisition. Merging the corporate customer service and account management groups into a single customer support organization. Adding an employee on-site in the United Kingdom to manage European sales, as well as extending customer service hours to support European customers. Developing several clinical outcomes studies relating to use of pre-configured electrode arrays, which the Company anticipates will be launched in 2010.
We see an opportunity to reinvigorate and expand our installed base of customers, said Shai N. Gozani, M.D., Ph.D., NeuroMetrix President & CEO. Publication of the new Category I CPT code was a positive development that should help our business in the long term. Physician reimbursement under the CPT code is lower than under the prior codes, which will necessitate some changes in our business model that will put downward pressure on revenues and margins in the near term. However, we have taken steps that we believe may lead to an increase in the number of physicians using our products and an increase in electrode utilization within accounts. The range of issues our customers face, which include changes in reimbursement, decreased patient visits, and uncertainty arising from the national debate on health care reform, make 2010 a difficult year to predict. We are working to position ourselves to rebuild demand and, over time, return the Company to a growth track.
Company to Host Live Conference Call and Webcast
NeuroMetrix management will host a conference call today, February 10, 2010 at 8:00 a.m., Eastern time, to discuss the Company's financial results, business and financial developments, as well as other forward-looking information about the Company ™s business. To access the call, dial 800-659-1942 (domestic), or 617-614-2710 (international). The confirmation code is 65018804. The call will also be webcast and will be accessible from the Company's website at neurometrix under the "Investor Relations" tab. A replay of the conference call will be available for three months starting two hours after the call by dialing 888-286-8010 (domestic) or 617-801-6888 (international), and the confirmation code is 74951707.
Source: NeuroMetrix