DALLAS, Dec. 16, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring CardioNet Inc. (Nasdaq:BEAT). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.beaconequity.com/i/BEAT
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CardioNet Inc. (BEAT), provides continuous, real-time ambulatory outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. The Company has developed an integrated patient monitoring platform that incorporates a wireless data transmission network, internally developed software, the U.S. Food and Drug Administration (FDA)-cleared algorithms and medical devices, and an around-the-clock digital monitoring service center.
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In the report, the analyst notes:
"Revenues for the third quarter of 2009 increased to $33.3 million compared to $31.2 million in the third quarter of 2008, an increase of $2.1 million, or 6.8%. For the third quarter, the Company's payor mix was 38% Medicare and 62% commercial. While the increased patient volume drove additional revenue, it was offset by the September 1, 2009, decrease in Medicare reimbursement as well as the declining commercial reimbursement trends as disclosed in the Company's June 30, 2009, press release.
"BEAT announced in early November that the Centers for Medicare and Medicaid Services ('CMS') have not established a national pricing reimbursement rate for mobile cardiovascular telemetry (CPT Code 93229) in the Medicare final rule for the physician fee schedule for calendar year 2010. Reimbursement for mobile cardiovascular telemetry will continue to be carrier priced by Highmark Medicare Services ('HMS')."
To read the entire report visit: http://www.beaconequity.com/i/BEAT
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