Raport bieżący nr 5/2022
Art. 17 ust. 1 MAR - informacje poufne.
The Board of Directors of Milestone Medical Inc. (WAR: MMD, “the Company", “the Issuer"), today announced that the American Medical Association (AMA) has issued a new technology-specific Category III Current Procedural Terminology (CPT®) code for the Company’s CompuFlo Epidural system. The AMA CPT Editorial Panel accepted the Company’s request to add a Category III code to report use of a real-time pressure sensing guidance system. The new CPT code goes into effect in the CPT codebook on January 1, 2023.
The specific code was granted after review and validation of the technology by the CPT Editorial Panel at its May 2022 meeting. The CPT codes created and maintained by the AMA CPT Editorial Panel are widely used by government payers, including Medicare and Medicaid, and commercial health plans. The approved Category III CPT code will be in effect for at least five years, at which time the AMA may award a Category I code.
The Board of Directors of the Company believes that receiving a technology-specific CPT code for CompuFlo marks an important milestone, that could increase the potential number of anesthesia pain management clinics adopting the CompuFlo, as the receipt of CPT code expands potential for reimbursement of epidural procedures in pain management utilizing the CompuFlo Epidural System.
Aside from the clinical benefits, this code is expected to play an important role in private pain clinics and hospital settings, where administration financial decision making could be made easier thereby helping accelerate the commercial roll-out of CompuFlo in the U.S. Furthermore, it will potentially assist in enhancing market penetration within the chronic pain segment, which is estimated to be at least twice the size of the labor and delivery market segment.
The Company is actively preparing a full launch plan in anticipation of this new AMA-cleared CPT code that will be implemented in the first quarter of 2023.
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