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-0.00721536015653667 -0.0271493212669685 0.0124740124740124 0.0111287758346581 0.0205454323101381 0.0193224899107252 0.0522196404549345 0.0420692185398067
Stock impact report

Sahm Adrangi's Kerrisdale Capital Issues Negative Report on iRhythm Technologies, Inc. and Announces Conference Call Schedule

iRhythm Technologies, Inc (IRTC)  More Company Research Source: PR Newswire
Last irhythm technologies, inc earnings: 2/27 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.irhythmtech.com
PDF NEW YORK, March 13, 2019 /PRNewswire/ -- Kerrisdale Capital, a private investment manager, has published a new report explaining its short position in iRhythm Technologies, Inc. (NASDAQ: IRTC), a $2.3bn medical device company that developed the Zio heart rhythm monitoring patch. Since 2011, iRhythm has generated almost all of its revenue through billing third payors using a temporary reimbursement code. Kerrisdale believes that the Zio will likely transition soon to a permanent reimbursement code that will cut reimbursement rates by over a third. Additionally, the explosion in the Zio's utilization will result in red flags at CMS, CMS's key regional contractor, and third party payors, even without a coding change, which will likely also lead to significant cuts in reimbursement rates. Beyond pricing cuts, iRhythm's competitors have improved upon Zio's diagnostic and reporting capabilities, providing customers with attractive alternatives. Studies show that Bardy Diagnostics' CAM patch [Read more]
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