Can you please provide me the exact scope of the reimbursement. Will this be the USA and for all medical insurance companies?
IMPORTANT QUOTE FROM CONFERENCE CALL LAST WEEK "Private or commercial insurers may also recognize and accept C-Code."
"I would like to further clarify what a C-CODE as the reimbursement process is complicated and might generate some confusion because our unique temporary pricing code that CMS initially established for hospitals to report from services and their the hospital outpatient prospective payment system or PPS equals are used on Medicare or PPS but may also be recognized on claims from other providers or by other payment systems. In CMS, originally established then C-Codes have evolved and they also now target unique hospital services that may be provided by OPPs providers or providers paid under the other payment system. Private or commercial insurers may also recognize and accept C-Code. The C-Code is likely to cover only the HIFU facility payment for HIFU ablation, the hospital may receive additional payment for other services and the physicians and the physiology (phon) fees will be billed and paid separately. We should have feedback and a decision from CMS during June for an effective date of this decision by July 1, 2017." Transcript courtesy of Seeking Alpha.
It should be a done deal for positive decision. There is no reason for insurance company pay more for radiation and surgery.
Should be over 4 by now. Instead no trades for half an hour because of those 7100 shares for sale at 3 that we can't get by.
LYON, France, May 22, 2017 (GLOBE NEWSWIRE) -- EDAP TMS SA (EDAP), the global leader in therapeutic ultrasound, announced today that the Centers for Medicare and Medicaid Services (CMS) have established a new billing code for HIFU ablation of prostate tissue. A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a94c40ad-b3a4-4d46-a5e7-a73a4873fcf9 "We are elated by CMS's decision," said Marc Oczachowski, EDAP's Chief Executive Officer. “This is another key milestone in the acceptance and recognition of HIFU technology in the U.S. as reflected by CMS’s celerity in addressing the dossier, establishing a c-code and assigning a competitive coverage level. It will provide a choice between recognized therapies based solely on clinical need and evidence. The C-code is a significant achievement and opens the door to broader coverage from different payers, including private and commercial payers. We will now transition our efforts toward expanding coverage and physician education to make our innovative technology available to all patients in the U.S.” HIFU ablation of prostate tissue procedures have been assigned C-code 9747 - ambulatory payment classification (APC) 5376; the code will take effect July 1st, 2017. C-codes are unique, temporary pricing codes initially established for the Hospital Outpatient Prospective Payment System (OPPS). The C-codes are used on Medicare OPPS claims, and may also be recognized on claims from other providers or by other payment systems. The code is applicable to all procedures performed by the Company's HIFU devices, including whole primary whole gland prostate ablation, partial prostate ablation or whole and partial salvage ablation. Mr. Ozachowski added, “I would like to thank Jerry Stringham, president of the reimbursement strategy consulting firm Medical Technology Partners for all of his hard work. Jerry has been instrumental in directing our efforts towards reimbursement. We look forward to continuing to work with his experienced team while we pursue additional reimbursement for HIFU procedures.”
Reimbursement decision in 2-3 weeks.
Hey, where's Drop Dead ED in the last couple of days? Maybe he\she is taking a break now that EDAP teamed up with Sonocare to get the C code from CMS.
Not bad considering their balance sheet Cash decrease $1.46m, current assets increase $0.62m, current liabilities decrease $0.80m. So net cash and equal decrease $0.04m. --zero penny per share. Noticed share holder equity increased by 3m which maybe reflect the warrant. From last Q, they sold or lease 3 focal-1 to Italy, one to Brazil. One ( most likely focal-1) to canam, once a Sonacare fun(their website still claim sonablate better than ablerthem).
The street is getting the message. Up we go.
be honest now who's holding the bag on the stock
Long term share holder and like what i heard if we can get the reimbursement absolute game changer. Has anyone tried to get a hold of the new pr marketing company believe they are in Georgia. Have left several messages and heard nothing back. This is a foreign company if were going to get traction in the states we desperately need there assistance. If they are earning there paycheck we should being bought out. I would love to see a reverse split and get this on the exchange so fund managers could jump on board.
Read the cc script I think either edap or sonacare will be acquired by isrg or aray or edap merge with sonacare.
That Boston meeting sure has impressed a lot of people.
I love the last two days of big jumps as much as any long suffering EDAP long, but let's no spread mistruths. These spikes are rooted in the idea that a C # will be established shortly, that M&M + private insurance can use for "Protrate tissue ablation". Also per the CC, Focal 1 submissions is JACKED and may need to be resubmitted with new data, and the Ablatherm FUSION is still months away from 510K application. So, we are left with the hope that physicians will get on board, with insurance reimbursement, with good old Ablatherm HIFU. Institutions can buy an Ablatherm now & get upgraded software to include Fusion when it's approved, but EDAP still needs to SELL machines. Not one or two/ quarter per recently. But, DOZENS. C # is nice, but means NOTHING without SALES.
tell you beat me to it edap after hours 23% finally it's getting ready to take off I am 98% of my 401 in edap
The "big kahuna" will be if Focal 1 is designated for prostate ablation and "prostate cancer treatment". I know it is only semantics but the designation will be a game changer.
The approval news leaked before the CC of last week.
isrg price exploding upwards. Goldman says market for robotic surgery is monsterous. Edap will participate.