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  • donnyboyko donnyboyko Jun 4, 2013 7:05 PM Flag

    CMS Full Approval...

    CMS full aproval...

    More Great news...

    GAITHERSBURG, MD--(Marketwire - Mar 18, 2013) - Cytomedix, Inc. ( OTCQX : CMXI ) (the "Company"), a regenerative therapies company commercializing and developing innovative platelet and adult stem cell technologies, announced today that the Center for Medicare & Medicaid Services (CMS) has issued reimbursement coding and claims payment instructions to its regional contractors for the use of autologous PRP in chronic non-healing wounds. The assignment of a Healthcare Common Procedure Coding System (HCPCS) code establishes the reimbursement mechanism for physicians and other providers submitting claims for services provided to Medicare beneficiaries. A new HCPCS code, G-0460, has been assigned for:

    "Autologous platelet rich plasma for chronic wounds/ulcers, including phlebotomy, centrifugation, and all other preparatory procedures, administration and dressings, per treatment."

    Martin Rosendale, Chief Executive Officer of Cytomedix, commented, "The assignment of a HCPCS code for the use of AutoloGel is another critical element to the near term clinical treatment of chronic non-healing wounds with commercial reimbursement. We recently received protocol approval under the Coverage with Evidence Development (CED) program, and detailed coding and payment instructions have now been issued to CMS' regional contractors and fiscal intermediaries. Our interaction with CMS continues to be productive and appropriately collaborative. We are enthusiastic that Medicare beneficiaries will soon be treated with AutoloGel and look forward to this opportunity to improve the health outcomes of patients dealing with non-healing chronic wounds."

    The assigned "G" code is a temporary code that will be used for the coverage of both the service and product initially. In addition to the "G" code, all Medicare claims submissions for treatments using the AutoloGel System will include an identification number that is specific for AutoloGel and the appropriate protocol. Medicare contractors have been instructed to pay claims in the following care settings: hospital outpatient departments, skilled nursing facilities, rural health clinics, comprehensive outpatient rehabilitation facilities, federally qualified health centers, and critical access hospitals. Claims processing will begin with an implementation date of July 1, 2013 for claims with dates of service after August 2, 2012

    Sentiment: Strong Buy

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