Wow...the shit is still hitting the fan at Cardionet. See the clip below from the first quarter 2012 financial results. Is there any accountability at this company? Loss after loss...
First Quarter Financial Results
Revenue for the first quarter 2012 was $27.0 million, a decrease of 20.5% compared to $34.0 million in the first quarter 2011. Revenue decreased $7.0 million due to lower MCOT(TM) reimbursement and volume which correlates to the lower volumes being experienced in physicians' offices, as well as lower average MCOT(TM)reimbursement. This decrease was partially offset by an increase in event and Holter revenue.
How about the decrease was caused by severe competition in the field for monitoring services?
The "lower volumes being experienced in physicians' offices" is because offices are going elsewhere for monitoring. Period.
First Quarter Financial Results
Revenue for the first quarter 2012 was $27.0 million, a decrease of 20.5% compared to $34.0 million in the first quarter 2011. Revenue decreased $7.0 million due to lower MCOT(TM) reimbursement and volume which correlates to the lower volumes being experienced in physicians' offices, as well as lower average MCOT(TM)reimbursement. This decrease was partially offset by an increase in event and Holter revenue.
How about the decrease was caused by severe competition in the field for monitoring services?
The "lower volumes being experienced in physicians' offices" is because offices are going elsewhere for monitoring. Period.