John Sheridan on insurance coverage
From Tandem Diabetes CEO: Using an Insulin Pump Like an iPhone | Mad Money | CNBC · · CNBC Television
“We had a series of misfortunes in 2016: UnitedHealth terminated coverage of us, and then the Medtronic 670G got approval early. The market was frozen, but we used our Tandem Device Updater for the first time, an industry first, and saw our numbers return.”
On , John Sheridan, President, Chief Executive Officer & Director at TANDEM DIABETES CARE INC, spoke about insurance coverage during Tandem Diabetes CEO: Using an Insulin Pump Like an iPhone | Mad Money | CNBC on CNBC Television.
About John Sheridan
In a September 2019 interview on CNBC's *Mad Money*, Tandem Diabetes Care CEO Kim Blickenstaff described the company's t:slim X2 insulin pump as the only touchscreen pump on the market, comparing its remote software update capability to the iPhone model. He stated that Tandem and Medtronic are the two remaining competitors in the pump market, forming a duopoly. Blickenstaff noted that Tandem partners with Dexcom for automated insulin delivery and that its Basal-IQ algorithm, used with the Dexcom G6, eliminates finger sticks for the first time. He said that only 27 to 30% of type 1 diabetics use pumps because they have been "difficult, very cumbersome to use and embarrassing," and that Tandem aims to make pumps "consumer-friendly, not embarrassing, very simple with an intuitive interface." Blickenstaff recounted that Tandem faced setbacks in 2016, including UnitedHealth terminating coverage and early approval of the Medtronic 670G, but that the company recovered by using its Tandem Device Updater for the first time. He said Tandem conducted offerings, paid off its debt, and became debt-free, adding that his own prediction for the stock price was $12 a share in December 2018. He remarked that the company had been "essentially dead" for two years and expressed interest in how its market success might influence wireless remote healthcare.