Urodynamix Technologies Ltd. Provides Update on US Reimbursement
23 November 2009 - 3:30PM
Marketwired
Urodynamix Technologies Ltd. (TSX VENTURE: URO) today announced
that the American Medical Association (AMA) has published its 2010
Current Procedural Terminology (CPT)(1) codes with additions,
changes and deletions of billing codes for all medical specialities
including urology.
As of January 2010, CPT Code 51795, "Voiding pressure studies
(VP); bladder voiding pressure, any technique," will be
discontinued and be replaced by a new CPT Code 51728, "Complex
cystometrogram (ie, calibrated electronic equipment); with voiding
pressure studies (ie, bladder voiding pressure), any technique" and
several other related codes. Urodynamix does not believe physicians
can use the new code to bill for the uroNIRS(TM) procedure once it
is effective January 1, 2010, as the uroNIRS(TM) procedure does not
include the performance of a complex cystometrogram. Thus,
physicians and other providers will need to use a miscellaneous
code to submit claims for uroNIRS(TM) or work with payors on other
coding alternatives. CPT codes are used to bill for physician
procedures under the Medicare Physician Fee Schedule in the United
States. They also are used by providers to submit claims to private
payors.
"The discontinuation of the 51795 Code likely will have a
negative impact on US sales but will not affect sales of
uroNIRS(TM) in international markets. We are confident that
uroNIRS's accuracy, value, cost effectiveness and ease of use will
be apparent and valuable to patients, payors and providers alike,
and that the Company can continue to build on its installed base,"
said Barry Allen, President and Chief Executive Officer of
Urodynamix Technologies Ltd. "We have worked closely with the
American Urological Association (AUA) to introduce the NIRS
technology and educate them on the value of the NIRS procedure and
are confident that this will ultimately result in unique codes for
uroNIRS(TM)." The Company currently is working with the AUA on
potential coding options for uroNIRS(TM) and anticipates that the
issue will be discussed at the upcoming February 11-13, 2010
meeting of the AMA's CPT Editorial Panel.
The Company will continue to market the device in the US during
2010 and will work with providers and payors to support sales
efforts and claims submission.
For further information about AMA CPT Codes please visit:
http://www.ama-assn.org and the American Urology Association at
http://www.auanet.org
(1) CPT® is a registered trademark of the AMA.
About Urodynamix Technologies Ltd.
Urodynamix Technologies is a Canadian medical device company
developing and commercializing non-invasive medical technology
based on proprietary applications of near-infrared spectroscopy
(NIRS). The Company is currently focused on products that aid in
the diagnosis and treatment of urinary incontinence, lower urinary
tract symptoms, erectile dysfunction, prostate cancer, benign
prostatic hyperplasia, and traumatic increases in intra-abdominal
pressure that cause abdominal compartment syndrome. Urodynamix's
breakthrough medical technology has the potential to beneficially
affect more than 200 million people worldwide.
www.urodynamix.com
Certain information contained in this press release may be
forward-looking and is subject to unknown risks, which could cause
actual results to differ materially from those set forth or implied
herein. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove correct.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Urodynamix Technologies Ltd. Barry Allen President and
Chief Executive Officer (604) 638-0241 Email: ballen@urodynamix.com
Website: www.urodynamix.com
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