Therma Bright Receives Positive Notification from U.S. DHHS's Centers for Medicare & Medicaid (CMS)
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has received positive notification from the U.S. Centers for Medicare & Medicaid Services (CMS) regarding pending permanent Current Procedural Terminology (CPT®) and Healthcare Common Procedure Coding System (HCPCS) codes for its Venowave VW5 device. The codes are expected to cover ten health-related and CMS reimbursable indications, including prevention of deep vein thrombosis (DVT) and management of post-thrombotic syndrome symptoms.
The company anticipates formal approval in the coming days, which could significantly impact its market opportunity. According to the CDC, over 900,000 U.S. citizens are affected by DVT and pulmonary embolism annually. Global market projections for DVT treatment alone range from USD $1.26 billion by 2028 to USD $1.554 billion by 2032.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha ricevuto una comunicazione positiva dai Centri per Medicare e Medicaid degli Stati Uniti (CMS) riguardo ai codici Current Procedural Terminology (CPT®) e Healthcare Common Procedure Coding System (HCPCS) in attesa di approvazione per il suo dispositivo Venowave VW5. Si prevede che i codici coprano dieci indicazioni sanitarie rimborsabili da CMS, inclusa la prevenzione della trombosi venosa profonda (DVT) e la gestione dei sintomi della sindrome post-trombotica.
La società prevede un'approvazione formale nei prossimi giorni, il che potrebbe avere un impatto significativo sulle sue opportunità di mercato. Secondo i CDC, oltre 900.000 cittadini statunitensi sono colpiti da DVT e embolia polmonare ogni anno. Le proiezioni di mercato globale per il trattamento della DVT da sole variano da 1,26 miliardi di USD entro il 2028 a 1,554 miliardi di USD entro il 2032.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha recibido una notificación positiva de los Centros de Medicare y Medicaid de EE. UU. (CMS) sobre los códigos Current Procedural Terminology (CPT®) y Healthcare Common Procedure Coding System (HCPCS) pendientes para su dispositivo Venowave VW5. Se espera que los códigos cubran diez indicaciones relacionadas con la salud y reembolsables por CMS, incluida la prevención de la trombosis venosa profunda (DVT) y el manejo de los síntomas del síndrome post-trombótico.
La empresa anticipa una aprobación formal en los próximos días, lo que podría impactar significativamente en su oportunidad de mercado. Según los CDC, más de 900,000 ciudadanos estadounidenses se ven afectados por DVT y embolia pulmonar anualmente. Las proyecciones del mercado global para el tratamiento de la DVT solo oscilan entre 1.26 mil millones de USD para 2028 y 1.554 mil millones de USD para 2032.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF)는 미국 메디케어 및 메디케이드 서비스 센터(CMS)로부터 Venowave VW5 장치에 대한 Current Procedural Terminology (CPT®) 및 Healthcare Common Procedure Coding System (HCPCS) 코드에 대한 긍정적인 알림을 받았습니다. 이 코드는 CMS가 재정 지원하는 10가지 건강 관련 표시를 포함할 것으로 예상되며, 여기에는 심부정맥혈전증(DVT) 예방 및 후유증 증상 관리가 포함됩니다.
회사는 향후 몇 일 내에 공식 승인이 이루어질 것으로 예상하며, 이는 시장 기회에 상당한 영향을 미칠 수 있습니다. CDC에 따르면, 매년 90만 명 이상의 미국 시민이 DVT와 폐색전증의 영향을 받습니다. DVT 치료에 대한 글로벌 시장 전망은 2028년까지 12억 6천만 달러에서 2032년까지 15억 5천4백만 달러로 나뉩니다.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) a reçu une notification positive des Centers for Medicare & Medicaid Services (CMS) des États-Unis concernant les codes Current Procedural Terminology (CPT®) et Healthcare Common Procedure Coding System (HCPCS) en attente pour son dispositif Venowave VW5. On s'attend à ce que ces codes couvrent dix indications de santé remboursables par le CMS, y compris la prévention de la thrombose veineuse profonde (DVT) et la gestion des symptômes du syndrome post-thrombotique.
L'entreprise prévoit une approbation formelle dans les prochains jours, ce qui pourrait avoir un impact significatif sur ses opportunités de marché. Selon les CDC, plus de 900 000 citoyens américains sont touchés par la DVT et l'embolie pulmonaire chaque année. Les projections de marché mondial pour le traitement de la DVT à elles seules vont de 1,26 milliard de USD d'ici 2028 à 1,554 milliard de USD d'ici 2032.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) hat eine positive Mitteilung von den US-Centren für Medicare und Medicaid Services (CMS) erhalten bezüglich der ausstehenden permanenten Current Procedural Terminology (CPT®) und Healthcare Common Procedure Coding System (HCPCS) Codes für sein Gerät Venowave VW5. Es wird erwartet, dass die Codes zehn gesundheitsbezogene und von CMS erstattungsfähige Indikationen abdecken, einschließlich der Prävention von tiefen Venenthrombosen (DVT) und der Behandlung von Symptomen des post-thrombotischen Syndroms.
Das Unternehmen erwartet in den kommenden Tagen eine formelle Genehmigung, die einen erheblichen Einfluss auf seine Marktchancen haben könnte. Laut den CDC sind jährlich über 900.000 US-Bürger von DVT und Lungenembolie betroffen. Die globalen Marktprognosen für die DVT-Behandlung allein belaufen sich auf 1,26 Milliarden USD bis 2028 und 1,554 Milliarden USD bis 2032.
- Pending approval of permanent CPT® and HCPCS codes for Venowave VW5 device
- Codes expected to cover 10 CMS reimbursable indications
- Potential for significant market opportunity in the DVT treatment sector
- Global DVT treatment market projected to reach up to USD $1.554 billion by 2032
- None.
Company anticipates CMS permanent CPT(R) and HCPCS codes in the coming days
Toronto, Ontario--(Newsfile Corp. - August 1, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ("Therma" or the "Company"), a developer and investment partner in a wide range of leading-edge, proprietary diagnostic and medical device technologies, is pleased to provide a quick update from a recent notification from US Department of Health and Huma Services' (DHHS) Centers of Medicare and Medicaid (CMS). CMS has informed the Company of the pending permanent Current Procedural Terminology (CPT®) and Healthcare Common Procedure Coding System (HCPCS) codes for its Venowave VW5 device; anticipating notification and approval in the coming days.
The CMS's CPT® and HCPCS codes are expected to cover ten (10) health related and CMS reimbursable indications, which offers a great opportunity in the marketplace for the Company, its customers, reseller partners and shareholders. CMS will be publishing the final determinations for the 1st Biannual HCPCS Level II on this site: HCPCS Level II Coding Decisions.
The ten (10) indications include:
- Prevention of deep vein thrombosis (DVT)
- Management of the symptoms of post-thrombotic syndrome (PTS)
- Prevention of primary thrombosis
- Treatment of lymphedema
- Diminishing post-operative pain and swelling
- Treatment of leg swelling due to vascular insufficiency
- Treatment of varicose veins
- Treatment of chronic venous insufficiency
- Enhancing blood circulation
- Treatment of intermittent claudication
As shared in prior releases, the Centers for Disease Control and Prevention (CDC) estimates that over 900,000 U.S. citizens are impacted by deep vein thrombosis (DVT) and pulmonary embolism (PE) alone each year. And ResearchAndMarkets global research and MarketDigital research both projected the deep vein thrombosis global market alone to reach between USD
"We're patiently awaiting confirmation from CMS, which is expected in a matter of days," shared Rob Fia, CEO of Therma Bright. "And we plan to make the announcement and all the details around the permanent codes immediately upon receipt of this formal approval."
About Therma Bright Inc.
Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as the commercialization of Venowave, DCA, and InStatin, and related technology as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218526
FAQ
What is the status of Therma Bright's (TBRIF) Venowave VW5 device with CMS?
How many indications are expected to be covered by the CMS codes for Therma Bright's (TBRIF) Venowave VW5?
What is the projected market size for deep vein thrombosis (DVT) treatment, relevant to Therma Bright (TBRIF)?
How many U.S. citizens are affected by deep vein thrombosis (DVT) and pulmonary embolism annually, according to the CDC?
