Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.Good day, ladies and gentlemen, and welcome to Senseonics 2nd quarter 2019 earnings call. She joined us after spending a number of years in a similar role for a large global diabetes company. As we have noted, we're making progress on multiple fronts in securing expanded coverage and the ongoing discussions we're having continue to demonstrate the strong clinical benefit of Eversense.
In addition to the Bridge program -- we have made progress with the Bridge program and we're also increased to see the covered lives in the United States. The increase was due primarily to the build-out of the sales force and commercialization efforts in the United States.Research and development expense in Q2 2019 increased by $2.2 million year-over-year to $10.5 million, compared to $8.3 million in the prior year period.
Certainly her helping us with this journey as we've described it around payors is going to be very, very key as well.
We're bringing in essentially in our Q2 but our expectation is that we're going to we're going to do this for a number of quarters here and really push patients on the system and really push the payers to recognize the product out there so we don't anticipate it as a long-term program. We are accomplishing this through our Bridge program and by means of positive coverage decisions for reimbursement from commercial payers.
From a revenue recognition perspective, what happens when we put a patient on the product, as we said, is they will go in and they will ask for a prior off to do it, they'll get turned down. Mukul Jain – Chief Operating Officer.
The team has completed their multicenter feasibility study that for the first time utilized Eversense to control CGM for patients in an artificial pancreas study. Importantly, to build clinical scientific literature to support reimbursement review by payers, and to further demonstrate the clinical value of Eversense, in June at the recent American Diabetes Association Annual Meeting in San Francisco, we showed strong real-world performance data of Eversense on the first 205 U.S. commercial patients.Our Chief Medical officer, Dr. Fran Kaufman, presented highlights from the initial patients that included an impressive 62% time in range, with only 4% time below range, and importantly, an 84% median wear time of the transmitter. And so that would be reflective of the discount as to where we're currently guiding versus last we spoke but this, we believe, will put us in a much better position to have patient count at its highest possible level in 2019 and get us to that installed base, that recurring base, that predictable revenue stream we're all looking for for 2020 and beyond.Mike, would you like to give any further comments there?Yes, Man, I'd say I think if you think about the industry copay assistant cards are pretty standards and if you think about it the way that Tim just explained it, it's a it's a program very similar to those whether in pharmaceuticals and also in CGM currently, and that's the way we've approached it.
We are simultaneously focusing our efforts on driving, sustainable topline growth, and building our infrastructure to drive margin improvements and progress toward profitability. These documents are available in the Investor Relations section of our website at www.senseonics.com.
… The registration process can take several months to over a year in some markets. Now, that's all I had.
Now that's not something that we've anticipated today we'll address that in the future.
As appropriate, we've also been working with patients to actively submit claims and appeals for reimbursement of the system.
OK.
This objective is twofold. And frankly, once they've been certified on the removal and reinsertion, we know in that case the number of patients that now come into that practice and the physician who wants to put on Eversense accelerates even more because now that physician has seen the entire process all the way through.
With several months now under our belt, the program is successfully accelerating prescriptions and sensor sales. I think maybe not quantitatively because it's only been a month but I can tell you that the local countries are super excited that we don't have this overhang with the question of the Roche agreement.
Daniel did you have another question on Fran?Yes -- no, no, no.
We have a bottleneck now.
We are excited to be bringing the Eversense bridge program to patients and clinicians who are waiting to try the product and to significantly reduce the current bottleneck in situation for patient's insurance that does not cover Eversense. This adoption is a sign that healthcare providers are finding the technology clinically beneficial, the procedure workflow to be smooth and that they are comfortable with the economics.
And then maybe to talk about how you think about gross margins in 2019?Hi. Q3 2018 Senseonics Holdings Inc Earnings Call 11/08/2018 04:30 PM (EST) SENS. Senseonics Holdings, Inc. (NYSEMKT: SENS) Q2 2019 Earnings Call Aug 7, 2019, 4:30 p.m.
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