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INSP INSPIRE MEDICAL SYSTEMS
Closed-loop implant — this quarter is reimbursement
What they are doing
One product: hypoglossal-nerve stimulator. The implant has a closed-loop algorithm timed to inspiration (10-K, FDA, STAR/ADHERE). That counts. You will not hear it on this call. On the Q2 transcript, CEO Tim Herbert’s concurrent strategy was getting paid: $206.6M (+7.6%), ~$40M coding hit, Project Horizon, guide $853–857M. Sleep-sync prior-auth tools are reimbursement hygiene. A closed-loop implant can be Weight 3 without saying “AI.” It does not get a 4 if they are not extending that layer.
Why the score
- Reach 2 not 3: one function.
- Weight 3 not 2: the breathing-timed algorithm is the implant vs CPAP.
- Proof 2 not 3: STAR/ADHERE are historical. This quarter is coding.
What would move it next quarter: A next-gen closed-loop / sensing algorithm with an outcome number. Coding recovery will not move the score.
Open these first
Evidence
l Devices Agency-approved neurostimulation technology of its kind that provides a safe and effective treatment for patients with moderate to severe OSA. We have developed a novel, closed-loop solution that continuously monitors a patient’s breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. A significant body of clinical data, which in erent. These findings show the urgency of treating CPAP-intolerant OSA to improve patient outcomes and potentially reduce healt
l Devices Agency-approved neurostimulation technology of its kind that provides a safe and effective treatment for patients with moderate to severe OSA. We have developed a novel, closed-loop solution that continuously monitors a patient’s breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. Inspire therapy is indicated for patients wit ice for which they are seeking reimbursement by using Current Procedural Terminology (CPT) codes, which are created and maintai
Herbert — coding, reimbursement, Project Horizon
The numbers. Product intelligence is in the 10-K, not this call.