Nevro Announces UnitedHealthcare Coverage for High-Frequency 10 kHz Therapy for the Treatment of Painful Diabetic Neuropathy
Nevro Corp. (NYSE: NVRO) announced that UnitedHealthcare will provide coverage for its high-frequency 10 kHz Therapy for Painful Diabetic Neuropathy (PDN), effective March 1, 2022. This decision is seen as a major milestone in facilitating access to Nevro's FDA-approved spinal cord stimulation therapy. UnitedHealthcare’s policy considers this treatment medically necessary under specific criteria. Nevro believes this coverage will enhance its market position and lead to further endorsements from additional health plans, supported by extensive clinical data.
- UnitedHealthcare coverage for 10 kHz Therapy starting March 1, 2022.
- Positioning as the only FDA-approved spinal cord stimulation system for PDN.
- Expectation of broader coverage from additional health plans due to strong clinical data.
- None.
REDWOOD CITY, Calif., Jan. 4, 2022 /PRNewswire/ -- Nevro Corp. (NYSE: NVRO), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, today announced that UnitedHealthcare, the largest private health insurance company in the United States, will provide coverage for the company's high-frequency 10 kHz Therapy for the treatment of PDN (Painful Diabetic Neuropathy) for dates of service on or after March 1, 2022. UnitedHealthcare is one of the businesses of UnitedHealth Group, a diversified health care company that provides coverage for more than 39 million commercial health care members.
"We believe this expeditious coverage decision from UnitedHealthcare following our submission to their medical policy team late last year is a major milestone and will facilitate access to Nevro's proprietary 10 kHz Therapy for PDN patients," stated D. Keith Grossman, Chairman, CEO and President of Nevro. "As the only spinal cord stimulation system that is FDA approved to treat PDN, we believe we are uniquely positioned to treat the thousands of patients suffering from the debilitating effects of PDN with a proven non-drug option. We also believe our strong and growing body of published, peer-reviewed clinical and real-world data will be the basis for further coverage decisions by other major health plans in 2022 and beyond."
Under its policy, UnitedHealthcare considers Nevro's U.S. Food and Drug Administration (FDA) approved high-frequency spinal cord stimulator to be proven and medically necessary for the treatment of diabetic neuropathy when specified criteria are met.
Internet Posting of Information
Nevro routinely posts information that may be important to investors in the "Investor Relations" section of its website at www.nevro.com. The company encourages investors and potential investors to consult the Nevro website regularly for important information about Nevro.
About Nevro
Headquartered in Redwood City, California, Nevro is a global medical device company focused on delivering comprehensive, life-changing solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment. The company started with a simple mission to help more patients suffering from debilitating pain and developed its proprietary 10 kHz Therapy, an evidence-based, non-pharmacologic innovation that has impacted the lives of more than 80,000 patients globally. Nevro's comprehensive HFX™ spinal cord stimulation (SCS) platform includes a Senza SCS system and support services for the treatment of chronic trunk and limb pain and painful diabetic neuropathy. Senza®, Senza II®, and Senza Omnia™ are the only SCS systems that deliver Nevro's proprietary 10 kHz Therapy. Nevro's unique support services provide every patient with an HFX Coach™ throughout their pain relief journey and every physician with HFX Cloud™ insights for enhanced patient and practice management.
The Senza® System, Senza II™ System, and the Senza® Omnia™ System are the only SCS systems that deliver Nevro's proprietary 10 kHz Therapy. Senza, Senza II, Senza Omnia, HFX, HXF Coach, HFX Cloud, HFX Connect, Nevro and the Nevro logo are trademarks of Nevro Corp.
To learn more about Nevro, connect with us on LinkedIn, Twitter, Facebook and Instagram.
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements reflecting the company's current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including: our belief that this coverage decision will facilitate access to Nevro's proprietary 10 kHz Therapy for PDN patients; our belief that we are uniquely positioned to treat the thousands of patients suffering from the debilitating effects of PDN with a proven non-drug option; and our belief that our strong and growing body of published, peer-reviewed clinical and real-world data will be the basis for further coverage decisions by other major health plans in 2022 and beyond. These forward-looking statements are based upon information that is currently available to us or our current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including our ability to successfully commercialize our products; our ability to manufacture our products to meet demand; the level and availability of third-party payor reimbursement for our products; our ability to effectively manage our anticipated growth and the costs and expenses of operating our business; our ability to protect our intellectual property rights and proprietary technologies; our ability to operate our business without infringing the intellectual property rights and proprietary technology of third parties; competition in our industry; additional capital and credit availability; our ability to attract and retain qualified personnel; and product liability claims. These factors, together with those that are described in greater detail in our Quarterly Report on Form 10-Q filed on November 8, 2021, as well as any reports that we may file with the Securities and Exchange Commission in the future, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. We expressly disclaim any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.
Investors and Media:
Julie Dewey, IRC
Nevro Corp.
Chief Corp Communications and Investor Relations Officer
650-433-3247 | julie.dewey@nevro.com
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SOURCE Nevro Corp.
FAQ
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