jeffgate45

Will NeuroMetrix Inc. Win Back the Hearts of Investors?

A few questions for Mr.Cress:

I am still curious about why the underwriters obviously never did due diligence on the insurance carrier reimbursement of the NC Stat.

1. How could an analyst or underwriter ever just accept NURO's assertion that the NC Stat would be reimbursed under existing codes when it is oobvious to any neophyte that their surface test differed dramatically from the accepted technology?

2. How could a Red Herring ever be issued that did not include a confirmation from just one insurance carrier or the AMA CPT Board that the NC Stat qualified a for the same reimb.?

3. How could the whole basis for income for a "new" medical device go unquestioned when it is standard knowledge that many products get FDA 510 K but very few qualify for a new or existing CPT code?

Will NeuroMetrix Inc. Win Back the Hearts of Investors?

A very important "mis-statement" of yours is that marketing and potential misuse "prompted some insurance carriers to alter their categorization of the procedure".

This is the same basic mis-understanding that "kool aid" drinking analysts and investors just never took the time and use of minute due diligence to discover.

Insurance carriers NEVER "altered" their categoriaztion. They never approved the billing codes used by NURO for NC-Stat in the first place. In fact, they were never asked. NURO just told MD's to submit billing falsely under a set of codes that were only approved for an invasive procedure. When insurance carriers discovered the billing for these codes increased dramatically from MD's that had never submitted them before (vs. neurologists that were qualified to submit), they "shut down" these fraudulent billings.

The business model of NURO was built on the false hope that insurance carriers would accept the premise of a hand held surface technology being eqal to an invasive needle technology.

If they had submitted this premise "before" marketing or going public, the answer would have been a resounding NO from insurance carriers.

The investment community completely dropped the ball and chose to see the naked King clothed in an imaginary robe.

One simple call or investigation by a CPT code specialist would have revealed that the submission of these codes would result in an ultimate denial. NURO either never asked for this independent opinion or failed to acknowledge it.