SAVINGS OFFER FOR THE EVERSENSE E3 CGM EXTENDED TO COVER UNLIMITED NUMBER OF SYSTEMS
- None.
- None.
Insights
The extension of the Eversense Payment Assistance and Simple Savings (PASS) Program by Ascensia Diabetes Care and Senseonics Holdings represents a strategic move to enhance market penetration and consumer access to their implantable continuous glucose monitoring (CGM) systems. By reducing the financial barrier to $99 out-of-pocket for eligible individuals, the companies are likely to see an increase in user adoption rates. This pricing strategy could potentially disrupt the CGM market by making long-term monitoring more affordable, which may lead to increased market share and revenue growth for both companies involved.
Investors should monitor the adoption rates following this announcement, as they could serve as an indicator of future financial performance. The program's success in expanding eligibility and reducing costs could also pressure competitors to adapt their pricing strategies, potentially leading to broader industry implications. However, investors should also consider the costs associated with such programs and the impact on profit margins, as well as the long-term sustainability of the pricing model.
The Eversense E3 CGM system's unique selling proposition lies in its long-term, implantable nature and predictive on-body alerts, which may improve patient outcomes by providing more consistent and accurate glucose monitoring. The extended duration of the sensor reduces the frequency of invasive procedures, which could lead to better patient compliance and satisfaction. This could be a significant development for people with diabetes who require continuous monitoring but find short-term CGMs inconvenient or uncomfortable.
From a research perspective, increased adoption of the Eversense E3 system facilitated by the PASS program could provide a wealth of real-world data on the long-term use and effectiveness of implantable CGM systems. This data could be invaluable for future medical research and the development of diabetes care technologies. The program's impact on clinical outcomes and healthcare costs associated with diabetes management will be an area of interest for medical professionals and healthcare economists alike.
The reduced out-of-pocket cost for the Eversense E3 CGM system could have significant implications for the healthcare economy, particularly in terms of diabetes management. By making long-term CGM systems more accessible, Ascensia and Senseonics may contribute to a reduction in diabetes-related complications and hospitalizations, which represent a substantial cost burden on the healthcare system. Furthermore, the program's exclusion of government insurance plans indicates a targeted approach towards the commercially insured population, which may reflect a strategic calculation of the program's financial viability and the demographic most likely to benefit from reduced CGM costs.
However, the long-term economic impact will depend on various factors, including the program's duration, the rate of uptake among eligible individuals and the potential for insurance providers to adjust coverage in response to the program. Healthcare economists will be interested in evaluating the cost-effectiveness of the program and its impact on overall healthcare expenditures related to diabetes care.
Eligible individuals in the
Eligible individuals will pay only
The Eversense PASS Program was first introduced in April 2022 to cover one initial Eversense system, which includes a sensor and transmitter. In May 2023 the
"Traditional, short-term CGMs don't work for everyone, and we are proud to bring a truly unique CGM option in Eversense E3 to people with diabetes," said Rudy Thoms, VP, CGM Commercial
Designed by Senseonics and brought to people with diabetes by Ascensia, the Eversense E3 CGM System offers a fully implantable option that is highly differentiated from traditional CGMs:
- The longest lasting CGM available, with up to 6-month sensor wear duration and two sensor insertion and removal procedures per year
- Exceptional accuracy for the entire duration of sensor wear**, including high accuracy during high/low glucose events, which is crucial for effective treatment
- The only CGM with a removable transmitter which can be taken on and off without wasting a sensor or adding a warm up period†
- The only CGM with predictive on-body alerts to help avoid missing a critical event, especially at night while sleeping or when away from your phone
Eligibility & Exclusions Overview:
- Eligibility: To be eligible, a person must have a commercial insurance plan, with or without coverage for the Eversense E3 CGM. They must also meet medical coverage criteria for CGM as indicated by their insurance provider.
- Exclusions: Government insurance as primary or secondary coverage (i.e., Medicare, Medicare Advantage, Medicaid, and Tri-Care) or commercial insurance plans that require purchase directly from HCPs (Health Care Professionals) via global payment.
Potential Eversense E3 users can go to www.ascensiadiabetes.com/eversense to learn more about the product and go to https://www.ascensiadiabetes.com/eversense/coverage/patient-assistance-program-information/ to learn more about the program and find out if they are eligible. Physicians, nurse practitioners and physician assistants who are interested in learning more about the Eversense E3 CGM System can sign up at https://www.ascensiadiabetes.com/eversense/become-a-provider/. Alternatively, contact 1-844-SENSE4U (1-844-736-7348) to learn more about the first and only long-term implantable CGM system. The PASS program is subject to modification, change or termination at any time.
* This cost is for the Eversense E3 CGM system only and excludes the cost of insertion and removal
** A mean absolute relative difference (MARD) of
† There is no glucose data generated when the transmitter is removed
Notes for Editors
About Ascensia Diabetes Care
Ascensia Diabetes Care is a global company focused entirely on helping people with diabetes. Its mission is to empower those living with diabetes through innovative solutions that simplify and improve their lives. It is home to the world-renowned CONTOUR® portfolio of blood glucose monitoring systems and the exclusive global distribution partner for the Eversense® Continuous Glucose Monitoring Systems from Senseonics. These products combine advanced technology with user-friendly functionality to help people with diabetes manage their condition and make a positive difference to their lives. As a trusted partner in the diabetes community, it collaborates closely with healthcare professionals and other partners to ensure its products meet the highest standards of accuracy, precision and reliability, and that it conducts its business compliantly and with integrity. Ascensia is a member of PHC Group and was established in 2016 through the acquisition of Bayer Diabetes Care by PHC Holdings Corporation. Ascensia products are sold in more than 100 countries. Ascensia has over 1,300 employees and operations in 31 countries. For further information, please visit the Ascensia Diabetes Care website at: http://www.ascensia.com
About PHC Holdings Corporation
PHC Holdings Corporation (TSE 6523) is a global healthcare company with a mission of contributing to the health of society through healthcare solutions that have a positive impact and improve the lives of people. Its subsidiaries (referred to collectively as PHC Group) include PHC Corporation, Ascensia Diabetes Care Holdings AG, Epredia Holdings Ltd., LSI Medience Corporation, Mediford Corporation, and Wemex. Together, these companies develop, manufacture, sell and service solutions across diabetes management, healthcare solutions, life sciences and diagnostics. PHC Group's consolidated net sales in FY2022 were
About Senseonics
Senseonics Holdings, Inc. ("Senseonics") is a medical technology company focused on the development and manufacturing of glucose monitoring products designed to transform lives in the global diabetes community with differentiated, long-term implantable glucose management technology. Senseonics' CGM system Eversense® E3 includes a small sensor inserted completely under the skin that communicates with a smart transmitter worn over the sensor. The glucose data are automatically sent every 5 minutes to a mobile app on the user's smartphone.
About Eversense
The Eversense® E3 Continuous Glucose Monitoring (CGM) System is indicated for continually measuring glucose levels for up to 180 days in persons with diabetes age 18 and older. The system is indicated for use to replace fingerstick blood glucose (BG) measurements for diabetes treatment decisions. Fingerstick BG measurements are still required for calibration primarily one time a day after day 21, and when symptoms do not match CGM information or when taking medications of the tetracycline class. The sensor insertion and removal procedures are performed by a health care provider. The Eversense E3 CGM System is a prescription device; patients should talk to their health care provider to learn more.
For important safety information, see https://www.ascensiadiabetes.com/eversense/safety-info/.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for Senseonics, including statements regarding announced changes taking effect as planned, statements regarding growing the awareness, adoption, growth and potential of Eversense, and other statements containing the words "believe," "expect," "intend," "may," "projects," "will," "planned," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties in insurer, regulatory and administrative processes and decisions, uncertainties inherent in the ongoing commercialization of the Eversense product, uncertainties inherent in Ascensia's performance and other commercial initiatives, uncertainties relating to the current economic environment and such other factors as are set forth in the risk factors detailed in Senseonics' Annual Report on Form 10-K for the year ended December 31, 2023 and Senseonics' other filings with the SEC under the heading "Risk Factors." In addition, the forward-looking statements included in this press release represent Senseonics' views as of the date hereof. Senseonics anticipates that subsequent events and developments will cause Senseonics' views to change. However, while Senseonics may elect to update these forward-looking statements at some point in the future, Senseonics specifically disclaims any obligation to do so except as required by law. These forward-looking statements should not be relied upon as representing Senseonics' views as of any date subsequent to the date hereof.
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SOURCE Ascensia Diabetes Care
FAQ
How much will eligible individuals in the U.S. pay for each 6-month CGM system under the Eversense PASS Program?
What is the total cost for each year of continuous glucose monitoring with Eversense E3 through the program?
What is the main goal of the Eversense Payment Assistance and Simple Savings Program?
What are some unique features of the Eversense E3 CGM System?
Who are the key companies involved in this initiative?
