Therma Bright's Venowave VW5 Secures Permanent HCPCS Code E0683 from U.S. DHHS's Centers for Medicare & Medicaid Services
Therma Bright's Venowave VW5 has secured a permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 from the U.S. Centers for Medicare and Medicaid Services (CMS). This makes it the first-of-its-kind Durable Medical Equipment to receive a new HCPCS Level II designation. The device addresses deep vein thrombosis (DVT) and nine other circulatory issues.
CMS has approved a complete patient buyout option for a pair of Venowave devices with a capped reimbursement of $1199, or a rental option at $78.05 per month for 13 months. The Venowave VW5 is a compact, battery-operated peristaltic pump that improves vascular and lymphatic flow in the lower limbs. It offers advantages over compression socks, providing comfortable and effective treatment for various circulatory conditions.
Il Venowave VW5 di Therma Bright ha ottenuto un codice permanente del Sistema di Codifica delle Procedure Mediche Comuni (HCPCS) E0683 dai Centri per Medicare e Medicaid degli Stati Uniti (CMS). Questo lo rende il primo dispositivo di questo tipo ad ricevere una nuova designazione HCPCS di livello II. Il dispositivo affronta la trombosi venosa profonda (TVP) e nove altri problemi circolatori.
Il CMS ha approvato un'opzione di acquisto completo per un paio di dispositivi Venowave con un rimborso massimo di $1199, oppure un'opzione di noleggio a $78,05 al mese per 13 mesi. Il Venowave VW5 è una pompa peristaltica compatta e portatile che migliora il flusso vascolare e linfatico negli arti inferiori. Offre vantaggi rispetto alle calze compressive, fornendo un trattamento confortevole ed efficace per varie condizioni circolatorie.
El Venowave VW5 de Therma Bright ha asegurado un código permanente del Sistema Común de Codificación de Procedimientos de Salud (HCPCS) E0683 de los Centros de Servicios de Medicare y Medicaid de EE. UU. (CMS). Esto lo convierte en el primer equipo médico durable de su tipo en recibir una nueva designación HCPCS de nivel II. El dispositivo aborda la trombosis venosa profunda (TVP) y otros nueve problemas circulatorios.
El CMS ha aprobado una opción de compra completa para un par de dispositivos Venowave con un reembolso limitado a $1199, o una opción de alquiler a $78.05 por mes durante 13 meses. El Venowave VW5 es una bomba peristáltica compacta y portátil que mejora el flujo vascular y linfático en las extremidades inferiores. Ofrece ventajas sobre las medias compresivas, proporcionando un tratamiento cómodo y efectivo para diversas condiciones circulatorias.
Therma Bright의 Venowave VW5는 미국 메디케어 및 메디케이드 서비스 센터(CMS)로부터 영구적인 의료 공통 절차 코드(HCPCS) E0683을 확보했습니다. 이는 HCPCS 레벨 II 지정을 받은 최초의 지속적인 의료 기기입니다. 이 장치는 심부 정맥 혈전증(DVT) 및 아홉 가지 다른 순환 문제를 다룹니다.
CMS는 Venowave 장치 두 대에 대한 완전 구매 옵션을 승인하였으며, 최대 환급액은 $1199입니다. 또는 13개월 동안 한 달에 $78.05에 임대 옵션도 가능합니다. Venowave VW5는 하체의 혈관 및 림프 흐름을 개선하는 콤팩트한 배터리 구동 퍼리스탈틱 펌프입니다. 이는 압축 양말보다 이점이 있으며, 다양한 순환기 질환에 대해 편안하고 효과적인 치료를 제공합니다.
Le Venowave VW5 de Therma Bright a obtenu un code permanent du Système de Codage des Procédures Médicales Courantes (HCPCS) E0683 des Centers for Medicare and Medicaid Services (CMS) des États-Unis. Cela en fait le premier équipement médical durable de son genre à recevoir une nouvelle désignation HCPCS de niveau II. L'appareil traite la thrombose veineuse profonde (TVP) et neuf autres problèmes circulatoires.
Le CMS a approuvé une option d'achat complète pour une paire de dispositifs Venowave avec un remboursement plafonné à 1199 $, ou une option de location à 78,05 $ par mois pendant 13 mois. Le Venowave VW5 est une pompe péristaltique compacte et fonctionnant sur batterie qui améliore le flux vasculaire et lymphatique dans les membres inférieurs. Il présente des avantages par rapport aux chaussettes de compression, offrant un traitement confortable et efficace pour diverses conditions circulatoires.
Therma Brights Venowave VW5 hat einen dauerhaften Code aus dem Healthcare Common Procedure Coding System (HCPCS) E0683 von den US-Zentren für Medicare und Medicaid Services (CMS) erhalten. Damit ist es das erste seiner Art, das eine neue HCPCS Level II Bezeichnung erhalten hat. Das Gerät befasst sich mit tiefer Venenthrombose (TVT) und neun weiteren Kreislaufproblemen.
Das CMS hat eine vollständige Kaufoption für ein Paar Venowave-Geräte mit einer maximalen Erstattungsgrenze von 1199 $ genehmigt, oder eine Mietoption zum Preis von 78,05 $ pro Monat für 13 Monate. Der Venowave VW5 ist eine kompakte, batteriebetriebene peristaltische Pumpe, die den venösen und lymphatischen Fluss in den unteren Gliedmaßen verbessert. Er bietet Vorteile gegenüber Kompressionsstrümpfen, indem er eine bequeme und effektive Behandlung für verschiedene kreislaufbedingte Erkrankungen bietet.
- Secured permanent HCPCS code E0683, enhancing reimbursement potential
- First-of-its-kind device to receive HCPCS Level II designation
- Addresses 10 different circulatory issues, including DVT
- CMS approved buyout option ($1199) and rental option ($78.05/month)
- Potential market value of $1.5 Billion by 2032 for DVT alone
- None.
The device becomes the first-of-its-kind Durable Medical Equipment to receive a new HCPCS Level II designation
Company looks to provide a U.S. sales update in the coming week
Toronto, Ontario--(Newsfile Corp. - August 19, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("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 announce that it's Venowave VW5 has received the permanent Healthcare Common Procedure Coding System (HCPCS) code from the U.S. Department of Health & Human Services' Centers for Medicare and Medicaid Services (CMS) on August 16, 2024.
Per an official announcement by CMS, the Company received the new Venowave VW5 permanent HCPCS Level II code E0683 for this first-of-its-kind solution, as well as CMS pricing determination. The details of the proposed items were outlined and reviewed on Wednesday, May 29, 2024, during CMS's First Biannual 2024 Healthcare Common Procedure Coding System (HCPCS) Public Meeting.
The Venowave VW5 will have a complete patient buyout option for a pair of Venowave devices with a capped reimbursement of
"We're pleased that the Centers for Medicare and Medicaid has approved our permanent code request, as well as the reimbursement pricing and the new HCPCS Level II designation for our Venowave VW5 device," shared Rob Fia, CEO of Therma Bright. "As shared in several of our recent press announcements, the CDC estimates that over 900,000 U.S. citizens suffer from deep vein thrombosis (DVT) and MarketDigit's research projected this disease will 'reach USD 1.5 Billion by 2032'on a global market value perspective. And DVT is only one (1) medical condition area out of ten (10) circulatory issues that the permanent code will cover, which is very exciting!"
There are ten (10) indications for the Venowave VW5 use, which 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
"This innovative device for addressing DVT and these other blood circulation issues is the first-of-its-kind to receive the permanent HCPCS Level II code, and we look to provide an initial sales update on our solution in the coming week," continued Fia. "One key competitive product in the marketplace is the compression sock, which applies controlled and constant pressure on the leg to improve blood flow in the veins. Unfortunately, users of the compression socks can experience a variety of challenges, including difficulty in putting the sock on, discomfort from constant pressure, minor bruising, skin ulcers, dry skin, redness, and itching. In contrast, the Venowave VW5 simply straps on and massages the leg, applying appropriate pressure in a comfortable and soothing manner to circulate blood through the veins."
The Venowave VW5 is a series of compact, battery-operated peristaltic pumps that generate a wave-form motion. When worn below the knee, strapped firmly to the calf, the device results in compression of the calf and consequently an increased upward volumetric displacement of venous and lymph fluid. The 2-pair unit induces improved vascular and lymphatic flow in the lower limbs. Operating with a single rechargeable 1.5 V NiMh AA battery, this FDA-designated Durable Medical Equipment device enables users to receive treatment anywhere while remaining active. The Venowave VW5 assures it can withstand repeated use by successive patients.
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 DCA 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.
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