Melinda. you, Thank
doing of be harbor at statement Today call our when end the we’ll the we’ll safe have that.
to cover We’ll We and it up follow-up going dive the open into are Q&A. conference and then then we'll that it follow financials. to with with some right call
other some taking come quarter. back discuss during what's We’ll and also will review points highlights we'll I review at then SANUWAVE. place highlights and the the financial to
and you We today our at we’ll last call and provide update conference looking. to QX on spoke an year-end forward
conditions. effects had would the the to to We an had placements, discuss are I the with to begun see address will revenue At and pandemic just we It working market to even call. from the and and treat momentarily. an these on technology that needs quantify items on coronavirus time have use adapting on the new are impact but the patients our initiatives we in quickly that and we but the impact, has impact issues. mentioned grow respiratory last clients’ current
quarter the due of is licenses the the Regardless QX been addressed. not partially was to was timing cash in and procedural revenue. disappointment, shortfall this of first the recognition a revenue not but expected, when we received of the revenue par international the orders, basically and what from which international up has main COVID, to was the recognize since We and
issue claims have implemented in to and education training. in progress even the encouraged hear, and to and to May. began taken head and at as we account corrective team's we specifically reignite we the XXX,XXX billing, have the action number show we're We will increase the for hopefully and our very higher management During the were top by it as will why currently billings in you within level over done These correct to actions through that April it summer. address and line. soon, I will quarter and what this XXX,XXX outstanding have efforts
we would to devices I like recently again. out begun place have point to also that
Just had be placements focus occur momentum happy per occurring. with account, renewed we revenue on with we believe and the last I four very new week will the
Also have been device just patients. our helping still using and dermaPACE patients, I'm so most are the clear, still wound fantastic show still clinics treating importantly results been with System. clinical They've
not they getting DFUs going away, only are worse. So are
great see as had have a help we now We a effectively. tremendous figure the out we technology and have we and begun lot demand, especially to game and can more better reimbursement
talk home right about care now. I'll
their clinics, pleased treat we mobile patients’ and that can brought to homes to be rolled allows used and initiative is the advanced home which one of system out It which the We the only announce for into home our setting. are recently be wound therapies dermaPACE wounds. in is
You a someone's cannot into hyperbaric house. role chamber
our a home. device from can out this in of more importantly, get accounts wishing existing sites in but new and rolling so lot had the are have we We interest to initially, ten they treat
Not physician volumes These new clinics clinic. care. it a enter they during allow us capabilities, have our of COVID XX% what and does receive furloughing would treat in receive dermaPACE mobile The paradigm mobile every at use patients, clinics XX% office will but to will normally seen have to solution had have and they XX% in look and to many staff. their nurse or decreased allows the realm registered wound assistant to
beginning will loosen and our open the account seen will we the It increase restrictions we're and mentioned placements an Regarding have backlog, in over I states sites, normal develop. and backlog see throughout monthly busy managers as and very should the XX means our the July placements on to in backlog, placements current and to have then sale we We'll May begin be of year. entering resume occurring a accelerating a Based June, summer. having month.
sites have faster instituted we are these we for result the and targeting the and for important, revenue SANUWAVE. Most training in sites importantly will
see We of we that through recover and many worked hang-ups feel us the in confident as late year, this we out summer. in this roll have reimbursement XXXX, hurt the quickly to revenue
by of and to see are week markets our we last were have activity corona. Italy Korea directly biggest some out as Internationally, they and two both. impacted begun But of
just a it gets As we worse. you cannot wound eliminate to due COVID, have said,
to So expect international markets. quarter our the kick-in this third in demand pent-up we do year from
will add the in more frame. QX, QX some countries, few time a also We quite large
morning targeting this will also looks they resigned their plans. but treat model future Shri wound dermaPACE agreement Atlanta, to a.m. business patients home. He's our and was expansion his Parikh. a an They entrepreneurial and mobile Shri of become be XX:XX with dermaPACE. endeavor successful their part At a we begin using initially are critical we promising They have The to announced extremely will health will start be solution. van at know President. will their unit. in They
I have expense on in our the which the May actions X. the given and of taken as but in just we structure third corrective gave pandemic, on will initiative, an up begin update earnest revenue to quarters, and at-home you second show
some pay have eliminated. has virtually, cost budgets, We done trade positions; are the shows eliminated team importantly reduction; has and entire have we been so now T&E the voluntary eliminated taken
outreach Zoom, during well all of has with extremely has which whatever customer been teams, working been downtime. in front customers, this Webinars, Microsoft get E-mails, of Skype, Our works our to
XXX,XXX year. were savings get and to with. eliminated a month our outside extend this working runway These we will are consultants break also just to even We many under
as bank we We will. received also May, expect late us to early in that receive will our PPP, has That our be notified June.
for lower revenue feeling us, PPP focus headed. about new burn, renewed the very a cash are with we orders a international again, good money, being So placing where we're collection focus,
you hope to as our hear front, partnership COVID, press and for release and agencies we We a activities. grants studies treating released patent. these about from IP know those to these respiratory this summer. also proposes It the On
spoke We on was product. NanoVibronix’s our WoundShield which about the call, last also
We to products with are and always patients. our wound partner other can work that looking for ways help
new partnerships on more We near in update have products future. the the and to
Finally, the positive on COVID policies. but reimbursement, have would the we on have met We coverage, the with payers to over beginning of four of some the announce these reimbursement with likely crisis, delayed implementation year. have since most news
once share. are we decreases, agencies COVID coverage will new load confident We to that from announcements these have
to the compelling and We offer Max commercial payers. very have the States a [ph] and
money extremely to works the use to device and healed. system. and like easy patients It’s for saves Our be well
later, It XXXX a already we are get Throughout with large to and set adoption. states. issue front XX in treatment for XXXX in paid long the up priority policy list have detail The the the a at We'll we but help reimbursement level. of folks billing policy of carriers. coating making has been to correctly these correctly been as in into appointments coverage over now so much on is and sites office that go not sure place
and we on which been our began when Claims means has April May basis. being procedure which are an earnest issue The in paid, improperly, done to claims collect account-by-account fee. address in can we are
changes on into mobile to was new adapting how solutions. so environment is made go want I changes us. which do and implemented up other an revenue to metric. more showing we quickly We're manage on I beyond. what not make May with COVID an QX We as April main wanted, business, is to the before Overall, and billings in account revenue now QX to impact financials, this sure we in per had in in we increase driving summarize. revenue and we has how
money, are few are up, the we we cannot for right is coming but back, cost are kept receiving very company optimistic everything We our structure have treatments on have goals picking orders next the strategic we rosy, to lowered decisions say we years. alternatives. PPP our the dramatically, moving reach over made We are
resulted financials, was Europe prior three to the revenues spare primarily ended same spare performed review months were our period to compared to parts Revenue by sales of from $XXX,XXX the higher related for applicators. compared of and applicators, partially devices, by offset primarily of March as international sales fees for parts decrease Italian of was the XX refurbishment distribution orthoPACE distributor. To XXXX. our This to The upfront year. due $XXX,XXX lower
employees Operating increased development and expenses Poland million the temporary three for of $XX,XXX. costs The compared April started to higher and $X.X due in were million. the months trial related XXXX. clinical to hiring to Research was salary and increase $X.X
and increased $XXX,XXX. and to increased increased sales expenses increase to clinical T&E related marketing account due The increase placement hiring and of an was the commercialization dermaPACE marketing and training in managers salespeople, and in for commissions. Selling
increased distribution primarily the merger in to D&O in opportunities, was of with searches, partially partner and was insurance to consulting decrease engagement increased to specialists outside related increase a The G&A and services. which was legal $XXX,XXX. increase by acquisition assist offset consulting fees due
beginning To and conclude, and the environment. adapt at cope the the we the doing some this discussing after spent we're time over to environment going things financials, in
lot is we decisions. is it data know share drive of like I'd The of think both and this I data with for important use today. clinical to you these based. to data some account to the a investors
weeks, treatments period had front, per X,XXX six average done have treatment the patient. clinical over On we The six treatments. been roughly
per reach of week, patients extremely XX FDA to led seeing approval at which weeks. are DFU linear time the compares fully that to weeks. This We of clinical XX% encouraging. six is near are to reduction of of or study fully which healed same a the the XX% our
include we job of clinical wounds We patients numbers not XX% a closing was are not into put do training done and also great These whose healed the our then and equation. increase the wound the side have faster dosage have register. on may because
So actually the be number higher. could even
sites, issue The which device time on are at site per occurred issue X.X a reimbursement average day, newer getting is from reimbursement, more sites are paid the policy around has and a day. discussed we Other using running are The issue. not training X.X standpoint. they main and specific when per sites per is
implemented address this. as changes have to discussed We
been summer. We be Review and also had some published healing. on in load soon this other our will Peer have wound for perfusion, have results research and later great bacterial doing The Journals metrics of key KLOs
of great paid. March completely job procedure a and forms deep is for device, a The filling This we getting we On February analyzing spent dive code, did doctors on new the in account-by-account frankly a education of correctly. sites underestimated patients up to lot loved the but the front, understand not clinically ability do the data the and device, occurring. was reimbursement revealed and front quite and claims needed the out new requirements completely the the loved what that the we
clear, properly, forms range out be not, being $XXX The paid time. paid, getting the XX%-plus average and the me are they when sites Let of they between is not paid. per per $X,XXX treatment. currently $XXX filled When When the are are treatment. the they're is are
$XXX. Now charge remember, we
So they claims are roughly they perform making when process per the treatment $XXX properly.
important note it's them payers would to our in $XXX,XXX better being generated alternatives. done and have properly. than $X.X money. if value process doctors we to other also the to because SANUWAVE, good X,XXX sites With treated, is We million as is compelling paid save if extremely less and treatment us save proposition DFUs expensive not that the revenue is the and but The
a close to healing As to very as Medicaid, excited state were at we are level, number, use for and we huge Georgia an in with it’s our that rates the roll they more out. example, this would about we $XX million, if save
this accounts level. move reimbursement a fixed account-by-account feel at we now of treatments educate in on to that implemented can Team two reclaims the have to and new the our that we April In in now used can one our place we We down drive were basis. re-education we site have and process issues with the to Head help so is COVID them. per revenue of day site-by-site, They and with training XX% payer have accounts Sales dealing
is roughly to incented on been million equates a we'll revenue. that team up million has the of base, and account already to $X installed believe revenue it sales numbers. The per in see showing current I late $X the as on this Based May dramatic annualized success
just Before we quickly. me let Q&A, to moved review
use, like quickly medical for which We open responded impacted been more any devices and seeing at-home medical help by in customers, will and COVID structure, see in are services also customers time months. will have need. and our for positive other a recovery of to new issues billing beginning, throughout the we're our have lower and but addressed adapted, the revenue lead our company. up the cost occurring We’ve placements results May summer we seeing accelerate We
strategically working can importantly, save as of A hard wound show a back to lives. anywhere SANUWAVE remains we a to we and signs beginning make our same most company. - coming is and company goal limbs, everywhere International the is saves so which But device great are treated, a
clinical than and revenue modalities. trial a The Our execution are our patients will have results drive many save the been than that on lot existing and lives. of on and results better revenue renewed focus limbs better
With thank I'm that Q&A, you. Melinda, open to
