Assure Exceeds Fourth Quarter 2021 Forecast for Remote Neurology Managed Cases
DENVER, January 13, 2022 (GLOBE NEWSWIRE) -- Assure Holdings Corp. (the “Company” or “Assure”) (NASDAQ: IONM; TSXV: IOM), a provider of intraoperative neuromonitoring services (“IONM”), announced that its remote neurology business, which launched in 2021, performed more than 2,100 remote neurology managed cases during the year. This included 1,222 in the fourth quarter of 2021, which exceeded the Company’s forecasted range of 1,000 to 1,200 during the period.
John A. Farlinger, executive chairman and CEO, said, “The roll-out of Assure’s remote neurology services for IONM is advancing. We completed over 1,200 remote neurology managed cases in the fourth quarter. Providing this service enables the Company to reduce our cost of delivery for providing IONM, thereby driving higher profit on every case we perform. Further, remote neurology services create a new revenue stream for Assure.”
Farlinger continued, “Importantly, the patient volume necessary to accelerate our remote neurology services has already been established by the managed cases performed by our technologists. Now, it is simply a matter of transitioning Assure patients to our remote neurology platform. The potential to scale our remote neurology offering is substantial with each of our four providers capable of performing professional oversight on 2,500 cases per year or more once fully ramped.”
Farlinger concluded, “We expect our remote neurology platform to be a key driver of incremental revenue and margin in 2022.”
Assure currently has four supervising practitioners performing remote neurology services. The Company is actively recruiting to fill additional positions and expects to continue ramping-up staffing for this function over the course of 2022 and beyond.
About Assure Holdings
Assure Holdings Corp. is a Colorado-based company that works with neurosurgeons and orthopedic spine surgeons to provide a turnkey suite of services that support intraoperative neuromonitoring activities during invasive surgeries. Assure employs its own staff of technologists and uses its own state-of-the-art monitoring equipment, handles 100% of intraoperative neuromonitoring scheduling and setup, and bills for all technical services provided. Assure Neuromonitoring is recognized as providing the highest level of patient care in the industry and has earned the Joint Commission’s Gold Seal of Approval®. For more information, visit the company’s website at www.assureneuromonitoring.com.
