Tissue Regenix Group PLC Tissue Regenix gains Medicare and Medicaid Q code (1625W)
November 05 2014 - 2:00AM
UK Regulatory
TIDMTRX
RNS Number : 1625W
Tissue Regenix Group PLC
05 November 2014
Tissue Regenix is assigned a Q code by Centers for Medicare and
Medicaid Services - allowing wound care centre reimbursement for
its DermaPure(R) dermal allograft
Q code assignment marks a significant step in the on-going
commercialisation of DermaPure(TM), expanding the market for the
treatment beyond acute care hospitals to health clinics, physicians
and outpatient facilities
YORK, 5 November, 2014 - Tissue Regenix Group plc (AIM:TRX)
("Tissue Regenix" or "the Group"), the regenerative medical devices
company, today announces its DermaPure(TM) dermal allograft, has
been assigned a Level II Healthcare Common Procedure Coding System
(HCPCS) product reimbursement Q code (Q4152) by the Centers for
Medicare and Medicaid Services ("CMS"), the US Federal Government
funded health programmes.
The new, unique Q code assignment for Tissue Regenix is
reflected in the Hospital Outpatient Prospective Payment System
Final Rule for CY 2015, released by CMS on October 31, 2014. The
new reimbursement code takes effect on January 1, 2015.
Key Facts
-- Phase II of sales strategy targeting outpatient facilities
(wound care clinics, outpatient surgery centres, ambulatory surgery
centres and physician's offices where a majority of wounds are
treated.)
-- The Q Code will enable these facilities to utilize
DermaPure(TM) for Medicare and Medicaid beneficiaries and receive
reimbursement for this product. This decision will allow greater
access to DermaPure(TM) for clinicians and provide an advanced
treatment option for patients suffering from chronic and acute
wounds.
Antony Odell, CEO of Tissue Regenix commented: "We are delighted
to receive the Q code assignment for DermaPure(TM) this is an
important milestone which allows us to obtain comprehensive
reimbursement coverage for DermaPure(TM) in outpatient facilities,
a key channel where skin substitutes are commonly utilized for
wound care.
"The Q code assignment by Centers for Medicaid and Medicare
allows Tissue Regenix to target the sizeable US wound and tissue
market. Clinicians who have used DermaPure(TM) have reported
positively on its benefits to their patients. The Q code will
significantly expand the number of clinicians that will be able to
utilize DermaPure(TM)."
- Ends -
For further information, please contact:
Tissue Regenix Group plc: +44 (0) 19 0443 5176
Antony Odell
Ian Jefferson
Jefferies International Ltd. +44 (0) 20 7029 8000
Simon Hardy
Harry Nicholas
Newgate Communications +44 (0) 207 680 6550
Deborah Saw
Andrew Adie
About Tissue Regenix
Tissue Regenix is a leading medical devices company in the field
of regenerative medicine. The company's patented decellularisation
('dCELL(R)') technology removes DNA and other cellular material
from animal and human tissue leaving an acellular tissue scaffold
which is not rejected by the patient's body which can then be used
to repair diseased or worn out body parts. The potential
applications of this process are diverse and address many critical
clinical needs such as vascular disease, heart valve replacement
and knee repair.
Tissue Regenix was formed in 2006 when it was spun-out from the
University of Leeds. The company commercialises academic research
conducted by our partners around the World.
In November 2012 Tissue Regenix Group plc set up a subsidiary
company in the United States - 'Tissue Regenix Wound Care Inc.', as
part of its commercialisation strategy for its dCELL(R) technology
platform.
About DermaPure(TM)
Tissue Regenix's DermaPure(R) works by taking human donor skin
and removing the DNA and cells, using the patented dCELL(R)
process, to leave a natural biological receptive scaffold that can
be placed in the wound to aid healing by attracting the patient's
own cells to the wound area.
A trial in the UK by NHS Blood and Transplant ('NHSBT') with the
University Hospital of South Manchester has shown that patients who
have had chronic wounds for an average of 4 1/2 years and who were
treated with a single application of Tissue Regenix's DermaPure(R)
have seen an 87% reduction in the size of all wounds, while 60% of
patients were completely healed, with virtually no recurrences.
Notes to Editors
Tissue Regenix's Q code assignment relates to the Level II HCPCS
coding system, and is used to identify products, supplies and
services employed outside of a physician's office, which are not
included in the Level I HCPCS coding system.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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