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Spiracur Awarded Two HCPCS Codes
for Wound Care Treatment SUNNYVALE, Calif., Nov. 15, 2012 – Spiracur Inc. announced today that the Department of Health and Human Services, through the Centers for Medicare & Medicaid Services (CMS), has established two new Healthcare Common Procedure Coding System (HCPCS) codes for negative pressure wound therapy (NPWT) using a mechanically-powered device. The HCPCS codes G0456 and G0457, which apply to the company’s mechanically-powered SNaP® Wound Care System, provide a payment mechanism for NPWT procedures furnished to beneficiaries through means unrelated to the durable medical equipment benefit. "We are extremely pleased with CMS’ decision to release two codes to cover reimbursement of NPWT delivered by a mechanically-powered device in wound care clinics and physician offices," said Gary Restani, president and chief executive officer for Spiracur Inc. "This is particularly important for patients who receive their wound care therapy in their doctor’s offices or at a clinic, as it allows patients to be ambulatory instead of remaining in a home care setting. CMS previously did not have a mechanism to adequately cover NPWT procedures in these settings. "In addition, the SNaP system provides an effective, off-the-shelf solution that wound care clinics and physician offices can offer to their patients even earlier in the wound care treatment process, which may help heal patients’ wounds more rapidly, while also alleviating the rental or procurement process," continued Restani. The new codes are for clinical services using a mechanically-powered device, not durable medical equipment, including provision of cartridge and dressing(s), topical applications(s), wound assessment, and instructions for ongoing care. Code G0456 applies to total wound(s) surface area less than or equal to 50 square centimeters, and code G0457 applies to total wound(s) surface area greater than 50 square centimeters. Spiracur is credited with creating a new category of chronic and acute wound management solutions by combining the benefits of advanced wound care with the proven efficacy of NPWT. The SNaP System is a mechanically powered, ultraportable NPWT system encompassing proprietary spring technology and gentle hydrocolloid dressing to maintain constant pressure. There is no electrical pump, the device is small and light, weighing only 2.2 ounces, and it is completely disposable. The benefits of the SNaP Wound Care System have been recognized by a number of payers including large private insurance companies and the Veterans Administration Health Care Services, with over 23,000 total applications to date. In addition, a multitude of studies have been published supporting the SNaP Wound Care System as an effective alternative to powered NPWT, including a comparative Randomized Controlled Trial that also showed the powerful, small device makes a positive difference in patients’ quality of life. About Spiracur Inc. Spiracur Inc., headquartered in Sunnyvale, Calif., is a privately held medical device company focused on the development of innovative wound healing technologies. Spiracur was founded out of the Stanford University Biodesign Innovation Program in 2007. Its first product, the SNaP Wound Care System for the treatment of chronic and acute wounds, is the result of patient and clinician feedback that current negative pressure wound therapies were too cumbersome. The company’s ciSNaP® Closed Incision System with proprietary controlled tension relief is designed to improve healing of high-risk surgical incisions. Both devices have been cleared by the U.S. Food & Drug Administration (FDA) and have received CE Mark approval. For more information, please visit http://spiracur.com. Media Contact Amy Cook 925.552.7893 amycook@amcpublicrelations.com Investor Contact Steve Van Dick 408.701.5300 svandick@spiracur.com Spiracur, Spiracur logo, SNaP and ciSNaP are registered trademarks of Spiracur Inc. |