CVRx (CVRX) Piper Sandler 36th Annual Healthcare Conference summary

Leadership insights and organizational changes

• CEO observed a large market opportunity, unique technology, and significant unmet need after joining.

• Early field experience confirmed the therapy's dramatic patient impact and strong team commitment.

• Executive team changes and new processes have been implemented to improve go-to-market strategy.

• Early results from new leadership are visible, but full impact expected in 3–4 quarters.

Reimbursement and regulatory progress

• Outpatient reimbursement rate successfully defended at $45,000 for a second year.

• Inpatient reimbursement doubled to $45,000, aligning with outpatient rates and providing business stability.

• Category I code accepted for implementation in January 2026, expected to reduce denials and improve predictability.

• Medicare contractors are preparing for the permanent code, viewing it as a sign of long-term viability.

Market development and commercial strategy

• Focus shifted to targeting 300–400 high-volume centers with potential for sustained adoption.

• Sales team expansion and territory optimization underway, aiming for deeper engagement at each center.

• Average center currently generates about eight revenue units per year, with significant upside potential.

• Goal is for each sales rep to manage five accounts, targeting $1.8 million in revenue per rep for cash flow break even.