Healthcare Industry News: Microcyn
News Release - September 10, 2009
Oculus Innovative Sciences Receives Medicare HCPCS Code for Reimbursement of Microcyn(R) Skin & Wound HydroGelPETALUMA, Calif., Sept. 10--(HSMN NewsFeed)--Oculus Innovative Sciences, Inc. (Nasdaq: OCLS ), a biopharmaceutical company that develops, manufactures and markets a family of products based upon the Microcyn(R) Technology platform, announced today that Noridian Administrative Services LLC, which is the pricing, data analysis and coding contractor for the Medicare program with respect to durable medical equipment, prosthetics, orthotics, and medical supplies, has assigned a Medicare HCPCS code for Oculus’ recently introduced Microcyn Skin & Wound HydroGel.
The HCPCS code #A6248 provides for 80% reimbursement of $17.05 per ounce. Reimbursement is provided for up to three ounces per month per patient wound.
"Oculus is pleased with this Medicare reimbursement coding, which affirms that national payers understand the essential role that the new Microcyn HydroGel can play in the treatment of various wound types,” said Jim Schutz, Oculus chief operating officer. “This reimbursement will provide an incentive for hospitals and clinics to more quickly integrate the Microcyn HydroGel into their treatment protocols.”
Healthcare professionals interested in more information about Microcyn Skin & Wound HydroGel should phone 1-800-759-9305.
About Oculus Innovative Sciences
Oculus Innovative Sciences develops, manufactures and markets a family of products based upon the Microcyn(R) Technology platform, which includes new formulations designed to significantly reduce the need for antibiotics as it reduces infections. The Microcyn Technology platform features a biocompatible, shelf-stable solution that is currently commercialized in the United States, Europe, India, China and Mexico and select Middle East countries under various country specific regulatory clearances and approvals. Several solutions derived from this platform have demonstrated, in a variety of research and investigational studies, the ability to treat a wide range of pathogens, including antibiotic-resistant strains of bacteria (including MRSA and VRE), viruses, fungi and spores, increase blood flow to the wound site, reduce both inflammation and pain while assisting in faster wound closure. The company’s headquarters are in Petaluma, California, with operations in Latin America. More information can be found at www.oculusis.com.
Except for historical information herein, some matters set forth in this press release are forward-looking within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements about the company’s commercial and technology progress. These forward-looking statements are identified by the use of words such as “believe,” “will provide,” and “integrated,” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company's business that could cause actual results to vary, including risks inherent in the development and commercialization of potential products, the risk that regulatory clinical and guideline developments may change, the risk that scientific data may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, the risk that clinical results may not be replicated in actual patient settings, the risk that protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, the risk that present trends will continue and that the available market for our products will not be as large as expected, the risk that our products will not be able to penetrate one or more targeted markets, the risk that revenues will not be sufficient to fund further development and clinical studies, the Company's future capital needs, and its ability to obtain additional funding, as well as uncertainties relative to varying product formulations and a multitude of diverse regulatory and marketing requirements in different countries and municipalities, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission including the quarterly report on Form 10-Q for the quarter ended June 30, 2009. Oculus Innovative Sciences disclaims any obligation to update these forward-looking statements.
Oculus and Microcyn Technology are trademarks or registered trademarks of Oculus Innovative Sciences, Inc. All other trademarks and service marks are the property of their respective owners.
Source: Oculus Innovative Sciences
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