Healthcare Industry News: angina
News Release - January 24, 2008
Medicare Increases Rates for Vasomedical EECP Therapy for 2008
WESTBURY, N.Y.--(HSMN NewsFeed)--Vasomedical, Inc. (“Vasomedical”) (OTC: VASO.OB ), a world leader in the noninvasive treatment of cardiovascular diseases, today announced that Medicare has increased reimbursement payment rates for EECP® therapy for 2008. The new rates, recently published by the Centers for Medicare and Medicaid Services (CMS), are effective immediately for the first six months of 2008 and result in a new national average physician fee payment level of $156.16 per session for EECP® therapy --- an increase of 6.2% over the 2007 payment rate. This increase results in a total national average physician fee payment rate of $5,465.60 for a typical 35-hour course of therapy. Changes in the national average physician fee payment for 2008 were a result of the rollback of the planned decrease in the physician dollar conversion factor and an increase in the practice expense portion of the Relative Value Units for EECP® therapy.The national average reimbursement rate for EECP® therapy administered in the hospital outpatient setting also increased for 2008 to $109.47 per session, or 2.3% higher than the rate for 2007. This increase results in a national average hospital outpatient payment rate of $3,831.45 for a typical 35-hour course of therapy. Medicare payment rates for physicians and hospitals are adjusted according to a provider’s location within the United States.
Dr. John Hui, president and chief executive officer of Vasomedical stated, “Vasomedical will continue to work with CMS towards extending coverage and improving payment rates for this beneficial procedure. It is Vasomedical’s goal to continue research and development, and provide the best quality equipment to deliver a safe and effective treatment for cardiovascular disease. As the industry leader, we will also continue to support further clinical research, publication of this data in peer reviewed medical journals and maintain responsible, value-based pricing of our systems, which is necessary to ensure availability and expansion of Medicare and other third-party payer coverage. ”
Dr. Hui continued, “In 2008 we expect to see the continuation of published studies, conducted in both U.S. and international EECP® treatment facilities, which will help to more clearly demonstrate the benefits of Vasomedical’s proprietary EECP® therapy for patients with angina, and as a management and preventive treatment for cardiovascular diseases. In addition, this clinical data will help us to promote EECP® therapy and expand our market.”
About Vasomedical, Inc. and EECP® Therapy
Vasomedical, Inc. develops, manufactures and markets EECP® therapy systems to deliver its proprietary form of enhanced external counterpulsation therapy. EECP® therapy is a noninvasive, outpatient therapy used in the treatment of ischemic cardiovascular diseases, currently used to manage chronic stable angina and heart failure. The therapy increases blood flow and oxygen supply to the heart muscle and other organs and decreases the heart's workload and need for oxygen. Function of the endothelium, the inner lining of blood vessels throughout the body, is also improved, lessening resistance to blood flow. These actions reduce or eliminate symptoms of angina and heart failure, and improve exercise performance and quality of life for thousands of people worldwide. For more information visit www.vasomedical.com.
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this report, words such as “anticipated,” “believes,” “could,” “estimates,” “expects,” “may,” “offers,” “plans,” “potential,” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.
Source: Vasomedical
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