Calmare Therapeutics Inc (fka CTTC)

[nobodysbusiness]

New proxy statement makes for entertaining reading:

https://www.sec.gov/Archives/edgar/data/102198/000114420417062156/tv480746_prec14a.htm

"The current management team would be dismissed for cause. This would include both the CEO and CFO. The combined salaries of these two individuals is over $475,000 per year."

Do they even have ANY other management? And HOW does the company manage to come up with 475 grand a year?

This is misleading:

"We can and will initiate a hospital based APC (ambulatory payment classification) strategy that allows hospitals to generate their own CPT codes for re-imbursement."

That only applies to Medicare and ONLY to hospitals. In other words, it would affect only patients on Medicare who are being treated at a hospital. private practitioners would get NOTHING.

Moreover, calmare's CPT code is STILL basically that of a TENS unit:

"0278T Transcutaneous electrical modulation pain reprocessing (e.g, scrambler therapy), each treatment session (includes placement of electrodes)."

And that code is STILL not covered by insurance:

https://www.premera.com/medicalpolicies/1.01.507.pdf

Also, the APC payment to the hospital is "fixed":

https://www.acep.org/Clinical---Practice-Management/APC-(Ambulatory-Payment-Classifications)-FAQ/#sm.00000k1e98wpjwd78zbiwpqb7cuqf

"Since this payment is a prospective and "fixed" payment to the hospital, the hospital is at risk for potential "profit or loss" with each APC payment it receives."

So it's NOT like the hospital can charge just anything it wants.

Plus there's still the matter of the co-pay:

"The payment is divided into Medicare's portion and patient co-pay. Co-pays vary between 20 and 40% of the APC payment rate."

I'm suspecting these "challengers" are just as ignorant about the facts as the current management.