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Achieved record Q4 test volume of 3,664, exceeding the target range of 2,500 to 3,000, driven by improved sales team productivity and established market presence.<\/p>\n<\/li>\n
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Secured a U.S. Department of Veterans Affairs (VA) contract under the Federal Supply Schedule, validating the Medicare pricing of $938 and providing access to 9 million enrolled veterans.<\/p>\n<\/li>\n
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Identified a ‘de facto’ coverage pathway with UnitedHealthcare by leveraging endoscopy guidelines that list EsoGuard as an appropriate indicator for EGD procedures.<\/p>\n<\/li>\n
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Transitioned the commercial team’s focus from high-volume event-based testing toward higher-value Medicare and VA clinical populations to prepare for imminent reimbursement shifts.<\/p>\n<\/li>\n
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Released real-world data from 12,000 patients confirming a 95% technical success rate and safety profile, which management is using to differentiate EsoGuard from ‘antiquated’ sponge-based competitors.<\/p>\n<\/li>\n
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Attributed the delay in the Medicare draft Local Coverage Determination (LCD) to administrative and logistical backlogs at MolDx rather than concerns over clinical utility.<\/p>\n<\/li>\n<\/ul>\n
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Anticipates the publication of a draft Medicare LCD ‘any day now,’ which would trigger a 45-day comment period followed by a final policy and 12-month retroactive payment eligibility.<\/p>\n<\/li>\n
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Plans to announce the first positive coverage policy from a Laboratory Benefit Manager (LBM) within the next couple of months, facilitating regional Blue Cross Blue Shield adoption.<\/p>\n<\/li>\n
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Intends to maintain current operating expense levels until Medicare coverage is finalized, at which point the company will ‘step on the gas’ regarding sales force expansion.<\/p>\n<\/li>\n
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Developing sophisticated cost-effectiveness modeling to supplement ongoing negotiations with commercial payers who require economic data beyond clinical validity.<\/p>\n<\/li>\n
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Prioritizing EHR integration with systems like Epic to streamline physician ordering and result delivery, viewed as a critical requirement for clinical scaling in 2026.<\/p>\n<\/li>\n<\/ul>\n
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Reported a cash balance of $34.7 million with a quarterly burn rate of approximately $11.1 million, including investments in market access staffing.<\/p>\n<\/li>\n
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Noted that 80% of billable amounts are currently not collected due to the transitional stage of reimbursement, requiring revenue recognition on a cash basis for most claims.<\/p>\n<\/li>\n
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Highlighted a $7.7 million non-cash expense charge for the year related to the mark-to-market valuation of convertible notes driven by a 33% increase in stock price.<\/p>\n<\/li>\n
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Confirmed that PAVmed remains the largest shareholder with an 18% stake, maintaining significant influence alongside management despite losing absolute voting control.<\/p>\n<\/li>\n<\/ul><\/div>\n
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