Milestone Scientific Commences Sales of CompuFlo® Epidural Disposables within Omaha Pain Physicians
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The commencement of sales of CompuFlo Epidural disposables by Milestone Scientific Inc. to Omaha Pain Physicians marks a significant commercial milestone for the company. The adoption of this technology by a medical pain management center indicates a growing market acceptance, which can have positive implications for the company's revenue streams. The reported 100% success rate in the initial evaluation suggests a high level of efficacy and reliability of the CompuFlo system, which could lead to increased demand and potentially open doors for further adoption in other clinics and hospitals.
From an investment perspective, this development could signal a bullish case for Milestone Scientific's stock as the company expands its customer base. However, investors should monitor the scale of adoption and any feedback from additional clinical settings to assess the sustainability of this growth trajectory. It's also important to consider the competitive landscape and whether alternative technologies could impact Milestone's market share.
In the broader context of the healthcare industry, the integration of advanced technologies like the CompuFlo Epidural system is part of a larger trend towards improving patient outcomes and procedural safety. The technology's ability to provide painless and precise injections addresses a critical aspect of patient care, particularly in pain management. It's noteworthy that the system has received support from a reputable physician, which could enhance its credibility and lead to peer-to-peer endorsements within the medical community.
For stakeholders, including investors and healthcare providers, the potential for this technology to improve the standard of care while reducing procedural risks could translate into both clinical and economic benefits. Long-term, if the technology becomes a standard in epidural procedures, it could also impact the medical device industry, prompting competitors to innovate or seek partnerships.
The CEO's mention of advancement on the reimbursement front is a critical factor for the financial success of medical technologies like CompuFlo. Reimbursement policies significantly influence the adoption rate of new medical devices, as they affect the economic feasibility for healthcare providers. The successful evaluation and subsequent sales to Omaha Pain Physicians could serve as a case study to support reimbursement applications.
Positive outcomes from the use of CompuFlo could encourage insurance companies and Medicare to cover the technology, thereby increasing its accessibility to patients. However, this process often involves rigorous data collection and cost-benefit analysis. Milestone Scientific will need to demonstrate not only the clinical benefits but also the cost-effectiveness of their system compared to traditional methods to secure favorable reimbursement rates.
Follows successful evaluation by Omaha Pain Physicians’ founder and medical director, Dr. Matthew Stottle, reporting
ROSELAND, N.J., March 14, 2024 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that it has commenced sales of CompuFlo® Epidural disposables to Omaha Pain Physicians, a comprehensive medical pain management center in Omaha, NE. Omaha Pain Physicians is focused on treating patients with acute and chronic pain.
Adoption of the technology by this clinic follows a successful evaluation process by its founder and medical director, Dr. Matthew Stottle, an interventional pain medicine physician, who is board-certified by the American Board of Anesthesiology in both anesthesiology and pain medicine.
He received his medical degree from the University of Nebraska College of Medicine and has been in practice for over 10 years. Dr. Matthew Stottle has expertise in treating neck pain and spine problems, among other conditions.
Dr. Matthew Stottle completed 10 cases using the CompuFlo Epidural system at Omaha Pain Physicians, in which he reported
Dr. Matthew Stottle stated, “CompuFlo offers significant safety enhancements when performing an ESI procedure. In turn, this provides a safer method to deliver the medication to the treatment area.”
Arjan Haverhals, CEO and president of Milestone Scientific, stated, “We are pleased to witness the adoption of our technology by an additional pain management clinic. Similar to preceding practices, Omaha Pain Physicians conducted a successful evaluation period, reinforcing the ongoing success and safety of the CompuFlo system, which we believe will help advance our efforts on the reimbursement front. We appreciate the support of Dr. Stottle, which illustrates his commitment to incorporating the latest technologies to ensure the best patient outcomes.”
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology-focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2022. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact: David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020
FAQ
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