ZYXI - Zynex plays down impact of loss of UnitedHealth contract

Zynex (NASDAQ:ZYXI) rules out any material impact to the company topline after United Health Care dropped its coverage for the pain-related healthcare equipment company. In response to what it called a “short report,” Zynex (ZYXI) CEO Thomas Sandgaard said on Friday: "We do not expect Zynex to experience any material changes in revenue throughout 2022 due to shifts in United Healthcare's reimbursement program." The company operates its business mainly through out-of-network coverage, “and we accept all prescriptions and process claims through all insurance companies.” The impact of United Health becoming an out-of-network partner would be minimum to the bottom line, Sandgaard noted, adding that the decision to end the contract with the health insurance provider was a mutual one. Zynex (ZYXI) shares crashed nearly 15% on Thursday amid concerns of the decision by UnitedHealth (NYSE:UNH) to drop the company from its network beginning this week. Seeking Alpha contributor, Night Market Research noted

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Zynex plays down impact of loss of UnitedHealth contract