Five things to know:
1. Fourth quarter revenue grew 12% year-over-year with $4.04 million. Revenue in 2023 hit $14.52 million.
2. Full year revenue fell 2.4% compared to 2022 largely due to coding changes in the SiLO allograft, along with decreased cervical implant sales.
3. Increased procedure volume at ASCs and pain centers also contributed to overall sales growth during the fourth quarter.
4. The company raised its margins to 56.5% for 2023 from 52.5% in 2022 due to lower inventory costs.
5. In 2023, the company conducted advanced training sessions and cadaver labs to introduce surgeons to the Zip and SiLO implants.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
