American Medical Association Issues New CPT Code for Nuwellis’ Aquadex Ultrafiltration
13 July 2021 - 10:00PM
In an effort to increase the availability of life-saving
ultrafiltration therapy to people experiencing fluid overload, the
American Medical Association (AMA) has issued a new Category III
Current Procedural Terminology (CPT®) code, 0692T for Therapeutic
Ultrafiltration. The new CPT code will come into effect on January
1, 2022, at which time providers can utilize the code when using
Aquadex® to deliver ultrafiltration to adults and children (20 kg
or more). Aquadex is developed and marketed by Nuwellis, Inc.
(Nasdaq: NUWE).
A specific code for ultrafiltration was granted after a thorough
review and validation that the technology met the criteria for a
Category III CPT code. The CPT codes created and maintained by the
AMA CPT Editorial Panel are widely used by third party payers
including Medicare, Medicaid and commercial health plans. The
approved Therapeutic Ultrafiltration Category III CPT code will be
in effect for at least five years.
“Having an ultrafiltration-specific CPT code is a critical
milestone for Nuwellis. Reimbursement is an integral aspect of
hospital administration decision making and can play a huge role in
whether patients will have access to life-saving technologies,”
said Nestor Jaramillo, Jr., president and CEO of Nuwellis. “We
appreciate the recognition of the therapeutic benefit of
ultrafiltration by the medical societies who supported the
application. We are confident the Category III CPT code will enable
patient access through adoption by providers who prescribe
ultrafiltration for their fluid-overloaded
patients.”
“If it were entirely up to providers, we would always use the
most innovative technologies to treat our patients,” said Dr. Maria
V. DeVita, Chief Nephrologist, Lenox Hill Hospital, New York, New
York. “Yet the reality is, the healthcare system is immensely
dynamic and components such as reimbursement must be considered
when choosing the best tools to include in our armamentarium. This
reimbursement opens access to more hospitals and ultimately
patients across the nation who otherwise may not have had access to
ultrafiltration, and that is news worth celebrating.”
About NuwellisNuwellis, Inc.
(Nasdaq:NUWE) is a medical device company dedicated to transforming
the lives of patients suffering from fluid overload through
science, collaboration, and innovation. The Company is focused on
developing, manufacturing and commercializing the Aquadex
SmartFlow® System for ultrafiltration therapy. Nuwellis is
headquartered in Minneapolis, Minn., with a wholly-owned subsidiary
in Ireland. The Company has been listed on the Nasdaq Capital
Market since February 2012, previously branded as CHF Solutions
(Nasdaq:CHFS).
About the Aquadex SmartFlow
SystemThe Aquadex SmartFlow® System delivers clinically
proven therapy using a simple, flexible and smart method of
removing excess fluid from patients suffering from hypervolemia
(fluid overload). The Aquadex SmartFlow System is indicated for
temporary (up to 8 hours) or extended (longer than 8 hours in
patients who require hospitalization) use in adult and pediatric
patients weighing 20 kg or more whose fluid overload is
unresponsive to medical management, including diuretics. All
treatments must be administered by a health care provider, within
an outpatient or inpatient clinical setting, under physician
prescription, both having received training in extracorporeal
therapies.
Forward-Looking
StatementsCertain statements in this release may be
considered forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including without
limitation, statements regarding the new market opportunities and
anticipated growth in 2021 and beyond. Forward-looking statements
are predictions, projections and other statements about future
events that are based on current expectations and assumptions and,
as a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this release, including, without
limitation, those risks associated with our ability to execute on
our commercialization strategy, the impact of the COVID-19
pandemic, the possibility that we may be unable to raise sufficient
funds necessary for our anticipated operations, our post-market
clinical data collection activities, benefits of our products to
patients, our expectations with respect to product development and
commercialization efforts, our ability to increase market and
physician acceptance of our products, potentially competitive
product offerings, intellectual property protection, our ability to
integrate acquired businesses, our expectations regarding
anticipated synergies with and benefits from acquired businesses,
and other risks and uncertainties described in our filings with
the SEC. Forward-looking statements speak only as of the date
when made. Nuwellis does not assume any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
CONTACTS
INVESTORS:
George Montague
Chief Financial Officer, Nuwellis, Inc.
ir@nuwellis.com
Matt Basco, CFA
Gilmartin Group LLC
Matt.basco@gilmartinir.com
MEDIA:
Jessica Stebing
Health+Commerce
jstebing@healthandcommerce.com
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