Spectocor

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They are hiring a bunch of reps at low/no base and high commission, to grow the business over the next year, then will part ways with the rep/slash commission payouts. Great formula.
 
Anonymous said:
They are hiring a bunch of reps at low/no base and high commission, to grow the business over the next year, then will part ways with the rep/slash commission payouts. Great formula.
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Any truth to this? If so I can probably weather the storm of these douche bags coming into all my accounts. Or at least use it to my advantage.
 
Anonymous said:
Maybe you just aren't as good of a salesperson as you need to be to compete - there is always pharma if you want an easy sales job
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They have a three-in-one product and it is better. I've been waiting for a small mom-and-pop cardiac monitoring company to come along with less sales & management overhead and steal your accounts.

You can go on and on about capture rates, AF, the reports... blah blah. The physician doesn't care to spend that much time looking at reports anyways, they want to glance at two or three things and be done with it because that's all the time they have.

And what are your monitors missing?... convenience! And in medicine, that is basically the only thing that matters right now. They can start a patient out on a holter and with the product still on the patient convert it into either Event or Telemetry without shipping another product, dealing with added patient hookup, etc. All with the click of a button.

From a company profitability stand point this is genius. Their Fedex bill is going to be half of yours. Their holter conversion rate into 30-day monitoring is going to be higher than yours. And because this is easier for the patient and the physician with the upside of added professional components for the doctor, it's an easier physician sell and this company will see significantly more orders than you used to.
 
I beg to differ. Their equipment is a pain in the ass to work with - what's up with the rechargeable battery packs - what a pain! The simply holter needs to go away now that reimbursement for longer term monitoring has come down as far as it has. It is a waste of health care dollars to order holters on so many patients and is primarily done because private practices and hospitals own the equipment and make a ton of money from it. The standard of care should be a 7 to 14 day telemetry study and if a doctor feels a PVC count is needed after that then let the patient wear a 24 hour holter - it is just like so many things in American medicine - nobody likes to challenge 'the way it has been done for so long'.
 
Spectocor offers holter in the 3 in 1 product because the manufacturer is not American and reimbursement is different outside the USA. There is no such thing as MCT outside the USA.
 
Anonymous said:
I beg to differ. Their equipment is a pain in the ass to work with - what's up with the rechargeable battery packs - what a pain! The simply holter needs to go away now that reimbursement for longer term monitoring has come down as far as it has. It is a waste of health care dollars to order holters on so many patients and is primarily done because private practices and hospitals own the equipment and make a ton of money from it. The standard of care should be a 7 to 14 day telemetry study and if a doctor feels a PVC count is needed after that then let the patient wear a 24 hour holter - it is just like so many things in American medicine - nobody likes to challenge 'the way it has been done for so long'.
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Oh and your product doesn't have a communicator that needs recharged? Let's be honest...

Have you even read the CMS LCD policy for Telemetry product you sell... it all but expects a holter to be done first and when you call for prior authorization (which I'm doubting you ever have), that's the first question you're asked. So... lets weigh the facts here because the one person you're forgetting is the patient. Switching out a battery or keeping something simply plugged into an outlet VERSUS having to deal with additional monitors and/or worse having to make extra trips into my physicians office/hospital when I'm elderly and don't drive, rely on a family member who works to drive me, etc. VERSUS one monitor that can do everything I might need (holter, event, and telemetry). Think that through... and when you're done thinking about it from the patient prospective then take a few minutes to think about it from the physician/office/hospital perspective.

Insurance companies are happy to give the holter money to the physicians/hospitals since it saves them money and healthcare providers are happy to take it since you've completely left them out of the equation anyways. The MCT/MCOT even has the hookup fee component built into the technical code. Yep... at the beginning of Telemetry the HUGE technical component wasn't enough, your company lobbied to bundle the hookup fee into their code too. Event anymore is auto-trigger/auto-send and doesn't require a prior auth and even has a physician hookup fee... so why even bother with your MCOT?

You guys are all dying a slow death because you've forgot the golden rule; patients first, physicians second, and then yourself.

You keep going on and on about the technology of monitors and quality of the reports... when they're all basically the same and physicians simply don't care that yours has some extra graph on a 20 page report that they don't have time to look at or that you want to leave them with the results of a medical study that your company bought and paid for, that the physician also doesn't have time to read.

It's pretty hard to compete with a 3-in-1 monitor that allows the physician and patient complete flexibility, maximum financial return for the physician, and patient convenience of one monitor. Any minor drawback you hunt for is nothing when compared to your outdated product and even more outdated sales strategy.
 
That's a joke - same thing as Spectocor and the goon who runs their sales ops came from CN where he was let go because he had no vision for the future. All he cares about is the money.

As for your comment on the CMS LCD - you may want to check with Medicare directly and ask them if they think a holter needs to be done first because they seem to be paying for a ton of services without one. And yes, there are a few insurers that still require a holter but that's because they put money ahead of the patient and are know they have the power to dictate what lever of service the patient gets in order to protect their bottom line.
 
Anonymous said:
That's a joke - same thing as Spectocor and the goon who runs their sales ops came from CN where he was let go because he had no vision for the future. All he cares about is the money.

As for your comment on the CMS LCD - you may want to check with Medicare directly and ask them if they think a holter needs to be done first because they seem to be paying for a ton of services without one. And yes, there are a few insurers that still require a holter but that's because they put money ahead of the patient and are know they have the power to dictate what lever of service the patient gets in order to protect their bottom line.
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I know nothing about Spectocor, but maybe you guys should START caring about money before your stock goes down to $1/share. They have pretty ingenious technology next to yours and I'm sure they're cutting into some of your accounts with it.

As for the CMS LCD, read it:

http://www.cms.gov/medicare-coverag...075+&SearchType=Advanced&bc=IAAAAAgAAAAAAA==&

Real-time outpatient cardiac telemetry is considered medically unnecessary if it is unlikely to provide clinical data or information beyond that which has already been obtained from a previous test or if other testing (e.g., ECG, 24 hour Holter, event recorder, etc.) could be expected to provide the data/information needed for the diagnosis and/or treatment of the patient’s condition/symptoms.

It is considered reasonable and necessary only in circumstances where traditional Holter monitoring and/or other cardiac event recording is not expected to provide adequate information or has been unsuccessful in the diagnosis and/or treatment of the patient.
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Again, it is all but asking the doctor to do the holter first. Yes, you might not HAVE TO on standard Medicare patients. But that's only because you didn't have to get a prior auth. And how many Medicare patients anymore don't have an Commercial Medicare Advantage plan now a days? Anyone with a Medicare Advantage plan (Highmark, etc)... good luck because they want to know if you've done holter first. Regardless of the reason, it's the reality.
 
You must have trouble comprehending English.....Now that Medicare only reimburses for a 24 hour holter - I assure you there are many cases where a doctor would consider it a test that would not be considered reasonable and necessary. That is what is called 'practicing the art of medicine'. Making a clinical judgment to perform or not perform a test based on the doctor's interpretation of the symptoms. I guarantee you most patients with symptoms do not feel those symptoms every day.
 


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