Laserscope Provides Details About New CMS Reimbursement for In-Office PVP Procedure
January 05 2006 - 3:37PM
PR Newswire (US)
SAN JOSE, Calif., Jan. 5 /PRNewswire-FirstCall/ -- Laserscope
(NASDAQ:LSCP), a pioneer in the development and commercialization
of minimally-invasive medical devices, including medical lasers and
advanced fiber-optic delivery devices, said today that the Centers
for Medicare and Medicaid Services (CMS) published a technical
revision to the 2006 Medicare physician fee schedule. Under the
technical revision, the current procedural terminology code
(CPT(r)) 52648 was assigned non-facility relative value units (RVU)
for performing the Company's Photoselective Vaporization of the
Prostate (PVP) procedure for the treatment of Benign Prostatic
Hyperplasia (BPH) in an appropriately equipped office setting. The
reimbursement rate for the office-based procedure code was set at a
national average of approximately $3,100 effective January 1, 2006.
Previously, CPT(r) code 52648 only provided a reimbursement for PVP
procedures performed in a hospital setting. For 2006 the
reimbursement for PVP procedures performed in a hospital setting
under CPT(r) code 52648 is approximately $600 to the physician and
$2,500 to the hospital. For procedures done in a well-equipped
office setting, the entire reimbursement is approximately $3,100.
"While the majority of PVP procedures are currently performed in
the hospital outpatient setting, some physicians have been safely
performing PVP in well-equipped offices. We are extremely pleased
that our ongoing, cooperative effort with the AUA and CMS has
resulted in physicians continuing to have the choice to determine
the most suitable site of service in which to treat their
patients," said Eric Reuter, President and Chief Executive Officer
of Laserscope. "Although Laserscope will not advocate one setting
over another since this is the physician's choice, we have long
maintained that PVP is clinically the most efficacious procedure
for treating BPH given its durability, clinical outcomes, and
safety profile. The technical correction will ensure that Medicare
beneficiaries suffering from BPH will have access to PVP in all
sites of service." CPT(r) is a registered trademark of the American
Medical Association. About Laserscope Laserscope designs,
manufactures, sells and services on a worldwide basis an advanced
line of minimally-invasive medical products including medical laser
systems and related energy delivery devices for the office,
outpatient surgical center, and hospital markets. More information
about Laserscope can be found on the Company's web site at
http://www.laserscope.com/. Safe Harbor Statement This press
release contains forward-looking information within the meaning of
Section 21E of the Securities Exchange Act of 1934, and is subject
to the safe harbor created by this section. These forward-looking
statements include statements about an increase in PVP procedures
performed in an office setting and an increase in the number of
patients receiving PVP treatment. These statements are subject to a
number of risks and uncertainties, including among others:
uncertainties regarding introduction of new technologies
competitive to Laserscope's products and the degree to which the
Company's current and new products are accepted by customers, which
could affect the level of demand for our products; uncertainties
regarding our ability to compete with companies that have
significantly greater financial, technical, research and
development, manufacturing and marketing resources than we have;
and uncertainties that new products will receive regulatory
approval in applicable jurisdictions. Actual results may differ
materially due to these and other factors. The matters discussed in
this press release also involve risks and uncertainties described
from time to time in Laserscope's filings with the Securities and
Exchange Commission. In particular, see the Risk Factors described
in Laserscope's most recent Quarterly Report on Form 10-Q and
Annual Report on Form 10-K. Copies of Laserscope's public
disclosure filings with the SEC, including the most recent Annual
Report on Form 10-K and the most recent forms 10-Q are available
upon request from its Investor Relations Department at its website
at http://www.laserscope.com/ and at the SEC's website:
http://www.sec.gov/. Laserscope assumes no obligation to update the
forward-looking information contained in this press release. At
Laserscope: At Financial Relations Board: Eric Reuter, President
& CEO Tricia Ross, Investor/Analyst Contact Derek Bertocci, CFO
(617) 520-7064 (408) 943-0636 Laurie Berman, General Inquiries
(310) 854-8315 DATASOURCE: Laserscope CONTACT: Eric Reuter,
President & CEO, or Derek Bertocci, CFO, both of Laserscope,
+1-408-943-0636; or Investors/Analysts, Tricia Ross,
+1-617-520-7064, or General Inquiries, Laurie Berman,
+1-310-854-8315, both of Financial Relations Board, for Laserscope
Web site: http://www.laserscope.com/
Copyright
Laserscope (NASDAQ:LSCP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Laserscope (NASDAQ:LSCP)
Historical Stock Chart
From Jul 2023 to Jul 2024