Milestone Scientific Expands Commercial Rollout of the CompuFlo® Epidural System with Esteemed Pain Management Physician Dr. Elbaz at Hudson Specialty Care
Milestone Scientific (NYSE: MLSS) announced the commercial rollout of its CompuFlo® Epidural System at Hudson Specialty Care, led by Dr. Elbaz. This expansion follows the recent Medicare Part B payment rate assignment with FCSO and Novitas Solutions under CPT code CPT0777T. The implementation results from Milestone's partnership with Axial Biologics, with additional pilot programs ongoing in New Jersey, Texas, and Florida. The company will showcase the technology at the New York and New Jersey Pain Medicine Congress 2024. The CompuFlo system uses proprietary technology to precisely identify epidural space, enhancing procedure safety and efficiency.
Milestone Scientific (NYSE: MLSS) ha annunciato il lancio commerciale del suo CompuFlo® Epidural System presso Hudson Specialty Care, guidato dal Dott. Elbaz. Questa espansione segue l'assegnazione recente della tariffa di pagamento del Medicare Parte B con FCSO e Novitas Solutions sotto il codice CPT CPT0777T. L'implementazione deriva dalla partnership di Milestone con Axial Biologics, con ulteriori programmi pilota in corso nel New Jersey, Texas e Florida. L'azienda presenterà la tecnologia al Congresso di Medicina del Dolore di New York e New Jersey 2024. Il sistema CompuFlo utilizza una tecnologia proprietaria per identificare con precisione lo spazio epidurale, migliorando la sicurezza e l'efficienza delle procedure.
Milestone Scientific (NYSE: MLSS) anunció el lanzamiento comercial de su CompuFlo® Epidural System en Hudson Specialty Care, liderado por el Dr. Elbaz. Esta expansión sigue a la reciente asignación de la tarifa de pago de Medicare Parte B con FCSO y Novitas Solutions bajo el código CPT CPT0777T. La implementación es el resultado de la asociación de Milestone con Axial Biologics, con programas piloto adicionales en curso en Nueva Jersey, Texas y Florida. La empresa mostrará la tecnología en el Congreso de Medicina del Dolor de Nueva York y Nueva Jersey 2024. El sistema CompuFlo utiliza tecnología propietaria para identificar con precisión el espacio epidural, mejorando la seguridad y la eficiencia del procedimiento.
밀스톤 사이언티픽 (NYSE: MLSS)는 컴퓨플로(CompuFlo®) 에피두랄 시스템의 상업적 롤아웃을 엘바즈 박사가 이끄는 허드슨 스페셜티 케어에서 발표했습니다. 이번 확장은 FCSO 및 노비타스 솔루션과 함께 CPT 코드 CPT0777T에 따라 최근 Medicare 파트 B 지불 요율 할당에 따른 것입니다. 이 구현은 Milestone과 Axial Biologics의 파트너십의 결과이며, 뉴저지, 텍사스 및 플로리다에서 추가 파일럿 프로그램이 진행되고 있습니다. 회사는 2024년 뉴욕과 뉴저지 통증 치료학회에서 이 기술을 선보일 예정입니다. CompuFlo 시스템은 독자적인 기술을 사용하여 에피두랄 공간을 정확하게 식별하여 시술의 안전성과 효율성을 향상시킵니다.
Milestone Scientific (NYSE: MLSS) a annoncé le déploiement commercial de son système CompuFlo® Epidural à Hudson Specialty Care, dirigé par le Dr Elbaz. Cette extension fait suite à l'attribution récente du tarif de paiement Medicare Partie B avec FCSO et Novitas Solutions sous le code CPT CPT0777T. La mise en œuvre résulte du partenariat de Milestone avec Axial Biologics, avec des programmes pilotes supplémentaires en cours dans le New Jersey, le Texas et la Floride. L'entreprise présentera la technologie lors du Congrès de Médecine de la Douleur de New York et du New Jersey en 2024. Le système CompuFlo utilise une technologie propriétaire pour identifier précisément l'espace épidural, améliorant ainsi la sécurité et l'efficacité des procédures.
Milestone Scientific (NYSE: MLSS) hat den kommerziellen Rollout seines CompuFlo® Epidural-Systems in der Hudson Specialty Care unter der Leitung von Dr. Elbaz angekündigt. Diese Erweiterung folgt der kürzlichen Zuweisung des Medicare Teil B-Zahlungssatzes mit FCSO und Novitas Solutions unter dem CPT-Code CPT0777T. Die Implementierung ist das Ergebnis der Partnerschaft von Milestone mit Axial Biologics, mit weiteren Pilotprojekten in New Jersey, Texas und Florida. Das Unternehmen wird die Technologie auf dem Kongress für Schmerzmedizin in New York und New Jersey 2024 präsentieren. Das CompuFlo-System verwendet proprietäre Technologie, um den epiduralen Raum präzise zu identifizieren und die Sicherheit und Effizienz der Verfahren zu verbessern.
- Secured Medicare Part B payment rate assignment for CompuFlo Epidural System
- Expanded commercial rollout through partnership with Hudson Specialty Care
- Multiple pilot programs underway across three states (NJ, TX, FL)
- Successfully implementing partnership strategy with Axial Biologics
- None.
Insights
The commercial rollout of CompuFlo at Hudson Specialty Care represents a significant milestone in market penetration, particularly following the recent Medicare Part B payment rate assignment. The technology's adoption by a prominent pain management clinic validates its clinical value proposition and could accelerate market acceptance.
The Medicare reimbursement through CPT code CPT0777T is particularly noteworthy, as it removes a important barrier to adoption. With pilot programs expanding across multiple states and the backing of established physicians like Dr. Elbaz, the company is building a strong foundation for broader market penetration. The real-time pressure-sensing technology addresses a critical need in epidural procedures, where precision and safety are paramount.
The upcoming presence at the NY/NJ Pain Medicine Congress positions MLSS to capitalize on regional market opportunities and expand their provider network. With a
Recent Medicare Price Assignment Driving Increased Access to CompuFlo
Milestone Scientific to Attend New York and New Jersey Pain Medicine Congress 2024
ROSELAND, N.J., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced the commercial rollout of its CompuFlo® Epidural System at Hudson Specialty Care, led by renowned physician Dr. Elbaz. This latest agreement is a direct result of the Company's recent partnership with Axial Biologics, underscoring the success of this collaboration as Milestone’s sales pipeline expands, with additional pilot programs underway in New Jersey, Texas, and Florida.
This agreement also follows CompuFlo’s recent Medicare Part B Physician payment rate with First Coast Service Options Inc. (FCSO) and Novitas Solutions, Inc. for the CompuFlo Epidural System under the American Medical Association’s (AMA) technology-specific Category III CPT® code CPT0777T (real-time pressure-sensing epidural guidance system when used in conjunction with a primary ESI procedure).
Dr. Elbaz, an accomplished expert in spinal health and pain management, brings his extensive expertise to Hudson Specialty Care, where he and his team are committed to adopting cutting-edge technologies that improve patient outcomes.
“We are thrilled to partner with Dr. Elbaz and the dedicated team at Hudson Specialty Care to expand the reach of our CompuFlo Epidural System,” stated Arjan Haverhals, CEO of Milestone Scientific. “This expansion into a premier Northeast pain management clinic, coupled with our recent Medicare price assignment and growing pipeline, demonstrates the traction we are gaining as we work to elevate the standard of care in epidural procedures with a focus on clinical precision and safety.”
Dr. Elbaz added, “At Hudson Specialty Care, we continually seek innovative solutions to deliver the highest quality care to our patients. The CompuFlo Epidural System’s real-time pressure-sensing capabilities provide us with a new level of confidence and accuracy, which is essential in improving patient outcomes and satisfaction in epidural procedures.”
Milestone Scientific also reports it will be attending the New York and New Jersey Pain Medicine Congress 2024, hosted by the New York and New Jersey Societies of Interventional Pain Physicians (NYSIPP & NJSIPP), held from November 7-10, 2024, at the Hyatt Regency in Jersey City, New Jersey. Established in 2011, the NYSIPP & NJSIPP Pain Medicine Symposium aims to educate healthcare professionals and promote the development of safe, high-quality, and cost-effective interventional pain management techniques for the diagnosis and treatment of pain and related disorders, ensuring patient access to these interventions.
Haverhals further noted, “We are excited to participate in the New York and New Jersey Pain Medicine Congress. This is a prime opportunity to showcase our CompuFlo® Epidural System to many of the leading pain management physicians in the NY/NJ area, highlighting how our technology can enhance precision, safety, and patient outcomes in epidural procedures.”
The CompuFlo Epidural System leverages proprietary, patented technology to allow anesthesiologists and pain management specialists to precisely identify the epidural space, reducing the risk of false placements. This breakthrough technology is designed to significantly improve the safety and efficiency of epidural procedures, contributing to better patient outcomes and faster recovery times.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2022. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact:
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Email: mlss@crescendo-ir.com
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FAQ
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