AUG 19, 2016
Second Sight says lower Medicare outpatient payment rates held down second-quarter sales to 11 retinal prosthesis systems, down from 20 in the same period in 2015.
Total revenues also dropped in this quarter to $1 million from $2.7 million last year. According to the press release, the California-based company sold 21 units of the Argus II so far this year compared with 75 units in 2015.
"We are encouraged by the higher proposed CMS reimbursement rate for 2017, which would cover both the Argus II and the associated surgical procedure. Looking ahead, we believe that Second Sight is poised to see a rebound in implant numbers in the second half of the year and beyond," said Will McGuire, president and CEO of Second Sight.