Lymphoseek has been given out for free at most hospitals in an attempt to increase adoption in the time before Code C approval. My understanding is that code C means that the cost is directly passed right through to medicare and the hospital never sees the bill, making it easier to pay for lymphoseek and making more hospitals likely to use this treatment. Since a lot of test samples were being given away (leading to the lower 106,000 revenue number rather than the estimates at 300,000 for the quarter), we should see some serious profit now.
please anyone correct the parts of this that are wrong.
This is code assigned to Lympsheek which doctors can use in their prescription. So, LS is officially ready to be prescribed, even though the sale is already started.
"C Code", for Lymphoseek (technetium Tc 99m tilmanocept) Injection. Navidea anticipates that the billing code, which will become effective on October 1, 2013, will streamline the billing and reimbursement process for hospital providers who use Lymphoseek and support its fair and equitable reimbursement.."