SMLR - Semler Scientific off 10% on CMS PAH coverage decision
2023-04-03 12:43:23 ET
- Semler Scientific ( NASDAQ: SMLR ) is down 10% in Monday afternoon trading after CMS removed screening for peripheral artery disease (PAD) without complications from the Medicare Advantage risk adjustment model.
- The decision directly impacts the company's QuantaFlo device, which conducts a point-of-care test that measures arterial blood flow in the extremities to help diagnose cardiovascular diseases.
- CEO Wayne Pan said that a three-year phase-in of changes to the risk adjustment model will demonstrate the benefit of screening at-risk, asymptomatic patients for PAD.
- Semler ( SMLR ) added that earlier diagnosis and treatment can boost patient outcomes. It cited a study published in a medical journal that found a positive PAD test in Medicare Advantage patients was associated with an increase of ~60% to 70% for 1-year all-cause mortality and/or major adverse cardiac events.
- Read why Seeking Alpha contributor The Finance Pilgrim views Semler ( SMLR ) as a buy.
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Semler Scientific off 10% on CMS PAH coverage decision