Irhythm Technologies Inc Stock Price, News & Analysis

iRhythm Technologies (NASDAQ: IRTC) announced its fourth-quarter and full-year 2021 financial results will be released on February 23, 2022, after market close. The company will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss the results. iRhythm specializes in cardiac care through digital health solutions, utilizing wearable biosensors and cloud-based analytics to revolutionize arrhythmia diagnosis. The company is set to highlight advancements in patient monitoring and clinical management.

On January 10, 2022, iRhythm Technologies (NASDAQ:IRTC) announced that Novitas Solutions updated the reimbursement rates for CPT codes 93243 and 93247, applicable to their Zio service, to $223 and $233, retroactive to January 1, 2022. This adjustment could have boosted 2021 revenues by approximately 10%, offering clarity as the company moves into 2022. CEO Quentin Blackford expressed gratitude towards Novitas and other stakeholders, emphasizing the continued efforts in advancing cardiac monitoring services. Full financial details for Q4 and FY 2021 will be shared in February.

iRhythm Technologies (NASDAQ: IRTC) will participate in the 40th Annual J.P. Morgan Healthcare Conference on January 11, 2022, at 1:30 p.m. Eastern Time. A live and archived webcast will be available on the company’s website. iRhythm is a leader in digital healthcare, focusing on cardiac care through wearable biosensor devices and cloud-based analytics. Their innovations aim to enhance the detection and management of cardiac arrhythmias, potentially transforming patient care.

iRhythm Technologies (NASDAQ: IRTC) reported third-quarter 2021 financial results showing a revenue increase of 18.7% to $85.4 million year-over-year. Gross margins decreased to 65.7%, partly due to lower Medicare reimbursement rates. Despite ongoing staffing shortages, the company achieved a 19% growth and reduced clinical backlogs. However, net loss widened to $23.7 million, or $0.81 per share. Revenue guidance for FY 2021 was adjusted to $317 million-$319 million, down from $320 million-$325 million due to COVID-19 and customer challenges.

iRhythm Technologies (NASDAQ: IRTC) responded to the CMS 2022 Medicare Physician Fee Schedule, released on November 2, 2021. The Final Rule did not establish national pricing for relevant CPT codes associated with iRhythm’s Zio XT service, which is vital for extended ECG monitoring. The company is working with Medicare Administrative Contractors (MACs) to secure local pricing for these services. Although disappointed by the lack of national pricing, iRhythm remains hopeful about constructive discussions with MACs regarding appropriate rates.

iRhythm Technologies, Inc. (NASDAQ: IRTC) announced the release of its third quarter 2021 financial results on November 4, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET, where management will discuss the results. The event can be accessed live and archived on the company’s website. iRhythm is recognized for its innovative approach to cardiac arrhythmia diagnosis through wearable biosensor devices and advanced analytics, aiming to enhance clinical management of patients.

iRhythm Technologies has appointed Karen Ling to its Board of Directors as a Class 1 Director, effective November 1, 2021, while Raymond Scott will retire from the Board on the same date after serving since 2013. Quentin Blackford, iRhythm’s President and CEO, highlighted Ms. Ling's extensive HR leadership experience in healthcare and insurance, which will aid in scaling the company's operations globally. Ms. Ling previously held significant HR roles at AIG and Allergan, and expressed her commitment to contribute to iRhythm's growth and market opportunities.

iRhythm Technologies announced results from the mHealth Screening to Prevent Strokes (mSToPS) study, published in PLOS One. The trial involved 1,718 participants who used the Zio XT monitor vs. 3,371 controls, showing a reduction in serious cardiac events like death and stroke. The actively monitored group had a 3.6 incidence rate per 100 person-years, compared to 4.5 in controls, indicating Zio's effectiveness in detecting atrial fibrillation (AF). The study supports the need for enhanced cardiac screening to prevent adverse outcomes.

iRhythm Technologies announced the appointment of Quentin Blackford as President and CEO effective October 4, 2021. Blackford, previously Chief Operating Officer at Dexcom, brings over 20 years of experience in innovative medical devices and digital health. His leadership is expected to drive iRhythm's growth and market expansion. The company focuses on improving cardiac arrhythmia diagnoses through advanced technology. Douglas Devine will continue as Interim CEO until Blackford assumes his role.