Therma Bright Secures Nationwide U.S. Distribution Partner For Venowave
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has secured a new Nationwide U.S. Durable Medical Equipment (DME) distribution partner for its Venowave device. The partner has launched an initial sales program to assess Medicare/Medicaid reimbursement processes. Upon success, the distributor commits to acquire remaining inventory, valued at up to USD $2.38 million in reimbursement.
The Venowave VW5, effective for ten circulatory indications, offers up to USD $1,199 reimbursement per unit. Therma Bright expects its current inventory of 2,000 units to sell quickly, with strong demand for additional orders. The device's HCPCS Level II code E068 qualifies for reimbursement, potentially contributing significantly to the company's revenue and market valuation.
The new partnership offers favorable payment terms, reflecting confidence in Venowave's market readiness and reimbursement setup. Therma Bright anticipates successful program outcomes, leading to increased monthly orders and accelerated revenue growth.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha secures un nuovo partner nazionale negli Stati Uniti per la distribuzione di attrezzature mediche durevoli (DME) per il suo dispositivo Venowave. Il partner ha avviato un programma di vendita iniziale per valutare i processi di rimborso di Medicare/Medicaid. Al successo, il distributore si impegna ad acquisire il rimanente inventario, valutato fino a USD $2,38 milioni in rimborso.
Il Venowave VW5, efficace per dieci indicazioni circolatorie, offre fino a USD $1.199 di rimborso per unità. Therma Bright prevede che il suo attuale inventario di 2.000 unità si esaurisca rapidamente, con forte domanda per ulteriori ordini. Il codice HCPCS di livello II E068 del dispositivo qualifica per il rimborso, contribuendo potenzialmente in modo significativo ai ricavi e alla valutazione di mercato dell'azienda.
La nuova partnership offre condizioni di pagamento favorevoli, riflettendo la fiducia nella prontezza di mercato e nell'impostazione del rimborso di Venowave. Therma Bright si aspetta risultati di programma positivi, che porteranno a un aumento degli ordini mensili e a una crescita accelerata dei ricavi.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ha asegurado un nuevo socio nacional en EE.UU. para la distribución de equipos médicos duraderos (DME) para su dispositivo Venowave. El socio ha lanzado un programa inicial de ventas para evaluar los procesos de reembolso de Medicare/Medicaid. Ante un resultado exitoso, el distribuidor se compromete a adquirir el inventario restante, valorado en hasta USD $2.38 millones en reembolso.
El Venowave VW5, efectivo para diez indicaciones circulatorias, ofrece hasta USD $1,199 de reembolso por unidad. Therma Bright espera que su inventario actual de 2,000 unidades se venda rápidamente, con una fuerte demanda de pedidos adicionales. El código HCPCS Nivel II E068 del dispositivo califica para el reembolso, contribuyendo potencialmente de manera significativa a los ingresos y la valoración de mercado de la empresa.
La nueva asociación ofrece condiciones de pago favorables, reflejando confianza en la preparación del mercado y el sistema de reembolso de Venowave. Therma Bright anticipa resultados exitosos del programa, lo que llevará a un aumento en los pedidos mensuales y un crecimiento acelerado de los ingresos.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF)는 Venowave 장치에 대한 새로운 미국 전국 영구 의료 장비(DME) 유통 파트너십을 확보했습니다. 파트너는 Medicare/Medicaid 환급 프로세스를 평가하기 위해 초기 판매 프로그램을 시작했습니다. 성공할 경우, 유통업체는 최대 USD $2.38백만의 환급 가치에 해당하는 나머지 재고를 인수할 것을 약속합니다.
Venowave VW5는 10가지 순환계 질환에 대한 효과가 있으며, 유닛당 최대 USD $1,199의 환급을 제공합니다. Therma Bright는 현재 2,000개 유닛의 재고가 빠르게 판매될 것으로 기대하며, 추가 주문에 대한 강한 수요가 있을 것이라고 전망하고 있습니다. 이 장치의 HCPCS 레벨 II 코드 E068은 환급 자격을 부여하여 회사의 수익과 시장 평가에 상당한 기여를 할 수 있습니다.
새로운 파트너십은 Venowave의 시장 준비성과 환급 설정에 대한 신뢰를 반영하는 유리한 지불 조건을 제공합니다. Therma Bright는 성공적인 프로그램 결과를 기대하며, 이는 월별 주문 증가와 수익 성장 가속으로 이어질 것입니다.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) a sécurisé un nouveau partenaire national aux États-Unis pour la distribution d'équipements médicaux durables (DME) pour son dispositif Venowave. Le partenaire a lancé un programme de vente initial pour évaluer les processus de remboursement Medicare/Medicaid. En cas de succès, le distributeur s'engage à acquérir le reste de l'inventaire, d'une valeur allant jusqu'à USD $2,38 millions en remboursement.
Le Venowave VW5, efficace pour dix indications circulatoires, offre jusqu'à USD $1,199 de remboursement par unité. Therma Bright s'attend à ce que son inventaire actuel de 2 000 unités se vende rapidement, avec une forte demande pour des commandes supplémentaires. Le code HCPCS de niveau II E068 du dispositif qualifie pour le remboursement, contribuant potentiellement de manière significative aux revenus et à la valorisation de l'entreprise.
Le nouveau partenariat offre des conditions de paiement favorables, reflétant la confiance dans la préparation du marché et la configuration de remboursement de Venowave. Therma Bright anticipe des résultats positifs du programme, conduisant à une augmentation des commandes mensuelles et à une croissance accélérée des revenus.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) hat einen neuen landesweiten Partner für die Distribution von langlebigen medizinischen Geräten (DME) in den USA für sein Venowave-Gerät gewonnen. Der Partner hat ein erstes Verkaufsprogramm gestartet, um die Erstattungsprozesse von Medicare/Medicaid zu bewerten. Bei Erfolg verpflichtet sich der Distributor, den verbleibenden Lagerbestand im Wert von bis zu USD $2,38 Millionen an Erstattungen zu erwerben.
Das Venowave VW5, das für zehn zirkulatorische Indikationen wirksam ist, bietet bis zu USD $1.199 Erstattung pro Einheit. Therma Bright erwartet, dass der bestehende Lagerbestand von 2.000 Einheiten schnell verkauft wird, da eine starke Nachfrage nach zusätzlichen Bestellungen besteht. Der HCPCS Level II Code E068 des Gerätes qualifiziert für eine Erstattung, was potenziell erheblich zu den Einnahmen und der Marktbewertung des Unternehmens beitragen kann.
Die neue Partnerschaft bietet vorteilhafte Zahlungsbedingungen, die das Vertrauen in die Marktreife und das Erstattungssystem von Venowave widerspiegeln. Therma Bright erwartet erfolgreiche Programmausgänge, die zu steigenden monatlichen Bestellungen und beschleunigtem Umsatzwachstum führen werden.
- Secured a new Nationwide U.S. DME distribution partner for Venowave
- Potential USD $2.38 million in reimbursement value from current inventory
- Up to USD $1,199 reimbursement per Venowave unit
- HCPCS Level II code E068 qualifies for reimbursement for ten indications
- Favorable payment terms from the new partner
- Expected quick sale of current inventory with strong demand for additional orders
- None.
Nationwide partner launches initial Venowave sales program to gauge Medicare/Medicaid reimbursement timelines and billing procedures
Post initial program success, distributor commits to acquire remaining inventory that totals up to USD
Toronto, Ontario--(Newsfile Corp. - August 22, 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 proud to announce the addition of a new Nationwide U.S. Durable Medical Equipment (DME) distribution partner that has launched an initial Venowave sales program to gauge Medicare/Medicaid reimbursement timelines and billing procedures. Post initial program success, distributor commits to acquire remaining inventory that totals up to USD
With strong distribution network interest, Therma Bright expects its current inventory of 2,000 units-representing up to USD
The new DME partner's program offers favorable payment terms to Therma Bright which reflects the partner's confidence in Venowave, its market readiness, the robust HCPCS reimbursement set-up and the expected reimbursement timing. According to RXVantage "'Days to Pay' from service average 54 days during the miscellaneous HCPCS code period. But, they quickly 'normalize' to under 30 days after the HCPCS code is issued."
"We are thrilled to welcome our Nationwide distribution partner to our team, and look forward to working with them closely on this program to demonstrate to their medical network the speed of reimbursement, as well as our efficient order and delivery process," shared Rob Fia, CEO of Therma Bright. "We expect the program to be successful, leading to a significant increase in Venowave orders on a monthly basis and accelerating our revenue growth."
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.
HCPCS Level II code E068 qualifies for reimbursement for ten (10) indications, including:
- 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
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 future sales of Venowave 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/220764
FAQ
What is the potential reimbursement value of Therma Bright's current Venowave inventory?
How many circulatory indications is the Venowave VW5 effective for?
What is the maximum reimbursement amount for a single Venowave unit?
What is the HCPCS Level II code for Venowave reimbursement?
How long does it typically take for reimbursement after the HCPCS code is issued?
