IRTC secures expanded Medicare coverage for Zio monitoring devices, driving six consecutive quarters of over 20% revenue growth.
iRhythm Technologies (NASDAQ:IRTC) announced a favorable Medicare local coverage determination, expanding access for its Zio monitoring devices. The final ruling includes additional patient indications such as systemic emboli and pre- and post-TAVR monitoring, addressing earlier concerns over restrictive language.
The company reported its sixth straight quarter of over 20% growth, led by its core Zio Monitor business in the U.S. Volume-driven demand for Zio Monitor and above-average growth in Zio AT contributed to the strong performance, executives said during an investor event.
Executives noted the coverage update and product momentum are supporting margin initiatives, though no immediate market reaction was detailed.