RE:RE:RE:More Share Bought by Profound Medical's managementBuenaSuertaAtod wrote: MrMugsy wrote: Charlie263 wrote: It's important to note that following purchases has been made in the month of May 2022:
Arun Menawat puchased 60516 shares, in addition to his previous puchases in Mar 2022
Brian Ellacott purchased 50000 shares
Ken Knudson Purchased 8000 shares.
It seems Profound medical's team did spectecular presentations of TULSA PRO at AUA. To me it seems, the rise of Profound Medical is imminent.
Should be imminent - very much tied to hospitals, reimbursement and a permanent reimbursement code.
In the Q2 conf call they indicated that the lack of a permanent reimbursement code was not holding them back in any significant way. That's a good thing considering that they said then they were targeting Q4 2022 to
apply for a permanent code, with Jan 2024 being the target date for actually
having a permanent code.
How much difference does a permanent reimbursement code make? I can't quantify that myself. I know that getting the code would be an important positive milestone. But they've been treating patients for many months without one.
Covid was holding them back via implementing the hospitals - not the reimbursement code.
But what I'm talking about is their growth rate. The permanent code is key to the growth rate in the future.
When Profound started in the USA, they didn't have a code (or even the use of a temporary) so the initial patients were all out of pocket.
Then hospitals started using an existing code and I think Arun said some hospitals were getting $4K-$7K coverage for their operations and the rest was out of pocket. Don't quote me on the number as I'm only going by memory.
The code is all about greater coverage and less out-of-pocket. At that point, you are looking a much larger population for the procedure due to greater coverage.
The code is extremely important but it wasn't holding back recent roll-out.
Hope that makes it clearer.