Inspire Medical Systems, Inc. (NYSE:INSP) Q3 2023 Earnings Call Transcript

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I think if you ask a lot of the ENTs and we work with our physicians to make sure that is true, they much rather do the implant procedure to move forward rather than picking up a couple of hundred dollars on doing a DISE procedure. And I think that there’s enough patience in the pipeline that demand is so high, we need to continue to drive efficiencies across the board. And so the continuum of care works, we know that we want the sleep physicians to help with the diagnosis, but certainly do the longitudinal management. And there are CPT codes for them to do that. And whenever they have a visit, remote monitoring, device programming has CPT codes. So there’s codes there for the sleep physicians. And the ENT codes are in place. We just got the new codes a year ago for the implant procedure, which is fairly reimbursed, because it’s been through two Rock [ph] surveys over the last 2 years.

And if we can continue to make improvements with, say, Inspire V and make that procedure more efficient, it will improve the economics of the implant procedure for the surgeons as well. So it’s still in the best interest that we perform DISE only on those patients that need DISE. And remember, the focus needs to be on the patient. And that is not a good experience in the patient pipeline to have to have a DISE. We want patients to be able to be diagnosed in a hospital setting with the PREDICTOR, which is a caliper measurement, being able to go straight to insurance approval and straight to implant, not having to have a disruption in the process for a sleep endoscopy, which adds a significant amount of time because it’s an added procedure.

Okay, on prioritization, it is certainly leverageable. And the key of prior authorization is, as you continue to evolve in time, the number of procedures the time it takes to prepare a procedure is significantly reduced, because of practice and because we know what are the essential elements that need to be in a prior authorization submission. So we can drive the metrics down on the time it takes to prepare a prior authorization. And number two, the insurance companies know that those prior authorizations are coming and when they have the proper indication that they can quickly approve those on-label procedures. And now what you’re seeing is [Technical Difficulty] that the healthcare is moving towards not allowing prior authorizations and so it is in the responsibility of the center to make sure they have indicated patients.

So we can certainly leverage this going forward. We just got to make sure that we have the centers educated to be able to take this on going forward. So thanks very much, Suraj.

Operator: Thank you. This concludes the Q&A session for the conference. I would now like to turn it back to Tim, for any closing remarks.

Tim Herbert: Yeah, I just want to say thanks for everybody for joining the call today as always. Very grateful to the growing team of dedicated Inspire employees for their enthusiasm, hard work and continued motivation to achieve successful and consistent patient outcomes. The team’s commitment to patients remains unmatched and is the most important element of our success. I wish to thank all of our employees as well as the healthcare teams for their continued efforts as we remain focused on further expanding our business in the U.S., Europe, and Asia. And for all of you on the call, we appreciate your continued interest and supportive Inspire. And look forward to providing you with further updates in the months ahead. Thank you very much.

Operator: Thank you. This concludes today’s conference call. You may now disconnect.

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