Fresh off positive reimbursement news for its Zio remote external electrocardiogram monitoring device, the CEO of iRhythm Technologies (NSDQ:IRTC) doesn’t just have revenue on his mind.
iRhythm President and CEO Quentin Blackford — the former Dexcom COO who replaced Mike Coyle in September — said his company will need to keep costs under control as it grows to serve tens of millions and then hundreds of millions of patients in the years ahead.
“This means introducing things like automation where it’s possible, reconfiguring processes and streamlining systems and structures across the organization, as well as really rethinking how and where we do the work in this new remote environment that we’re proving can be so successful,” Blackford said today at the J.P. Morgan Healthcare Conference. “Ultimately our goal is to ensure that we have the infrastructure in place to ensure long-term profitable revenue growth.”
Asked about the company’s path to profitability, Blackford said he feels “pretty good” about how much the company is spending on R&D, marketing and sales as a percentage of revenue, but flagged general and administrative (G&A) costs and back-office expenses as a “big gap for us.”