Healthcare Industry News: Bard
News Release - August 3, 2015
CMS Approves Add-on Payment for Lutonix(R) Drug-Coated Balloon for Inpatient UseMURRAY HILL, N.J.--(Healthcare Sales & Marketing Network)--C. R. Bard, Inc. (BCR) today announced that the U.S. Centers for Medicare and Medicaid Services (CMS) has approved a new technology add-on payment for the Lutonix® Drug-Coated Balloon (DCB) under the Medicare hospital inpatient prospective payment system. The purpose of the reimbursement is to help cover additional cost to U.S. hospitals for treating Medicare beneficiaries with the Lutonix® DCB in the inpatient setting. CMS determined the amount of the add-on payment to be a maximum of $1,036 when DCBs are used for inpatient peripheral procedures and the total device costs exceed the allowance for existing DRG reimbursement. The add-on payment is effective October 1, 2015.
The Lutonix® 035 DCB—the first FDA-approved DCB— is an angioplasty balloon coated with a therapeutic dose of the drug paclitaxel, and also utilizes standard mechanical dilatation of the vessel to restore blood flow for patients with peripheral arterial disease (PAD) in the femoropopliteal arteries.
Timothy M. Ring, chairman and chief executive officer, commented, “After providing reimbursement in the outpatient setting earlier this year, CMS has now provided additional reimbursement for the Lutonix® DCB in the inpatient setting, which demonstrates the benefit to patients from this breakthrough technology.”
C. R. Bard, Inc. (www.crBard.com), headquartered in Murray Hill, N.J., is a leading multinational developer, manufacturer and marketer of innovative, life-enhancing medical technologies in the fields of vascular, urology, oncology and surgical specialty products.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current expectations, the accuracy of which is necessarily subject to risks and uncertainties. These statements are not historical in nature and use words such as “anticipate”, “estimate”, “expect”, “project”, “intend”, “forecast”, “plan”, “believe”, and other words of similar meaning in connection with any discussion of future operating or financial performance. Many factors may cause actual results to differ materially from anticipated results including product developments, sales efforts, income tax matters, the outcomes of contingencies such as legal proceedings, and other economic, business, competitive and regulatory factors. The company undertakes no obligation to update its forward-looking statements. Please refer to the Cautionary Statement Regarding Forward-Looking Information in our June 30, 2015 Form 10-Q for more detailed information about these and other factors that may cause actual results to differ materially from those expressed or implied.
Source: C. R. Bard
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