Second Sight Reports Q3-2017 Net Sales of $1.6 Million, New $122,500 CMS Rate for Argus II

November 10, 2017: By Jon Swedien

Second SightSecond Sight reported Nov. 2 that its Q3-2017 net sales totaled $1.6 million, compared with $1.2 million in the third quarter of 2016.

The Sylmar, California, developer of the Argus II retinal prosthesis said surgeons implanted 12 systems during the third quarter, compared with 19 in Q2-2017 and 14 in Q3-2016.

The Centers for Medicare and Medicaid Services (CMS) issued a final Medicare outpatient payment rate for 2018 of $122.5 thousand for the Argus II and the associated surgical implantation procedure, the company said. The 2017 reimbursement rate was $150 thousand, and the 2016 rate was $95 thousand.

Second Sight said it anticipates a strong Q4-2017, with more than 20 Argus II surgeries completed or scheduled as of Nov. 2.

For the first three quarters of 2017, Second Sight’s total revenues were $4.9 million compared with $3.3 million for the same period in 2016. This increase was mainly due to a higher number of implants and higher average revenues per implant in 2017 compared with the prior year, Second Sight said.

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