
Vicor Technologies, Inc. (OTCBB: VCRT) is in the crucial transformative stage for a biotechnology company on the verge of becoming a viable commercial enterprise.
You have a product for which physicians can be reimbursed, a product which has met with strong physician support, a roll out underway and the IT department in place to support it.
A major factor in selling the VCRT product to physicians is: Reimbursement
Physicians and hospitals can use existing CPT (current procedural terminology) codes to obtain insurance company reimbursement – in addition to direct payment by patients – for tests performed using the PD2i Analyzer™. These codes are for the measurement of Heart Rate Variability in response to controlled exercise and paced respiration as well as recording and analyzing an EKG.
This is critical to ensure that all marketing activities for the PD2i Analyzer™ to physicians and billing activities by them are performed in accordance with FDA and Center for Medicare and Medicaid Services (CMS) guidelines.
Large Total Potential Market Opportunity
The PD2i™ diagnostics enable inexpensive, accurate, and early identification of disease states in at-risk populations prior to costly treatments for advanced disease or inaccurate identifications which are garnering increased attention in the current healthcare debate.
These populations are significant, representing:
- 12 million at-risk cardiac patients,
- 23.7 million diabetics, and
- 38 million trauma incidents
This represents 70 million potential patient encounters translating into a more than a $5 Billion annual market.
This Roll Out is Well Underway
Vicor created a formal Information Technology (IT) function this January for the rollout with the hiring of a Chief Technology Officer and a Senior Systems Architect based in the Company’s Boca Raton headquarters.
Domestic Physician Market
The product is ready, marketing has begun, the IT department is in place. Physician acceptance groundwork has been done that is so critical to success.
The Company’s strategy was to establish a large physician base – 350 shareholders and 450 members of the Company’s National Cardiac Panel – as early adopters of the Company’s technology to ensure that:
- The product is well received by physicians interested in Vicor’s success
- Product enhancement suggestions provided by these early adopters can be incorporated into the technology before a national rollout.
The PD2i test offers several advantages over competing diagnostics:
- More predictive than competing tests
- Non-invasive
- Performed by nurse or technician on resting patient
- Uses inexpensive, non-proprietary EKG electrodes
- Result available in less than twenty minutes
- Easy to use
- Yields simple Positive/Negative result
- Compact and no treadmill required
- Forgiving of data issues plaguing other diagnostics; not derailed by irregular or ectopic beats
- Can be performed on patients taking beta-blockers
- Low up-front cost
- Low per test cost
High Incentive for Physician Use
- More definitive and higher quality patient care
- Minimal disruption to office patient flow
- Simple to use with Positive/Negative result
Vicor Right on Track with Its Short-term Business Milestones
1. Commencement of revenue in January 2010, from physician market in the United States.
2. International revenue is scheduled to commence during the first half of 2010.
3. Submit 510K for claim for Sudden Cardiac Death in Q1 2010. While the claim for Sudden Cardiac Death will enhance marketing efforts, it will not impact currently existing CPT codes and revenue recognition prospects.
4. Submit 510K for claim for Trauma in 2010 upon receipt of data from U.S. Army Institute of Surgical Research
5. Complete Normal Range Study and 510(k) submission to enable identification of normal ranges of PD2i values for physicians.
Vicor Technologies, Inc.
2300 NW Corporate Blvd.
Suite 123
Boca Raton, FL 33431
877.528-PD2i (7324)
info@vicortech.com
Disclaimer and Forward-Looking Statements
The appearance of name-brand institutions or products in this profile does not constitute endorsement by the U.S. Army Institute of Surgical Research, the U.S. Army Medical Research and Materiel Command, the Department of the Army, Department of Defense or the U.S. Government of the information, products or services contained therein.
Forward-looking statements in this profile are based on current plans and expectations that are subject to uncertainties and risks, which could cause the Company’s future results to differ materially. The following factors, among others, could cause the Company’s actual results to differ: the Company’s ability to obtain FDA approval of the PD2i VS™ (Vital Sign) for military and civilian applications and the PD2i CA™ (Cardiac Analyzer), the Company’s ability to continue to receive financing sufficient to continue operations and complete the critical clinical trials; the Company’s ability to continue as a going concern; the Company’s ability to successfully develop products based on the Company’s technologies, included but not limited to the Company’s ASP distribution model for the PD2i Analyzer™; the Company’s ability to obtain and maintain adequate levels of third-party reimbursement for the Company’s products; the impact of competitive products and pricing; the Company’s ability to receive regulatory approval for the Company’s products; the ability of third-party contract research organizations to perform preclinical testing and clinical trials for the Company’s technologies; the ability of third-party manufacturers to manufacture the Company’s products; the Company’s ability to retain the services of the Company’s key personnel; the Company’s ability to market and sell the Company’s products successfully; the Company’s ability to protect the Company’s intellectual property; product liability; changes in federal income tax laws and regulations; general market conditions in the medical device and pharmaceutical industries; and other matters that are described in Vicor’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and subsequent filings with the Securities and Exchange Commission. Forward-looking statements in this press release speak only as of the date of the press release, and Vicor assume no obligation to update forward-looking statements or the reasons why actual results could differ.
Pentony Enterprises LLC is STOCKGURU.COM. 10604 Robincreek Lane; Frisco, Texas 75035. (469) 252-3030. Disclosure: Pentony Enterprises LLC was compensated fifty thousand restricted common shares and seventy-two hundred dollars by the company for profile coverage for the period ending March 31, 2010. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. We will not be buying or selling shares of Vicor during the promotional period.








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