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Therma Bright Inc V.THRM

Alternate Symbol(s):  TBRIF

Therma Bright Inc. is a Canada-based company, which is a developer and partner in a range of diagnostic and medical device technologies. It focuses on providing consumers and medical professionals with solutions that address medical and healthcare challenges. It is involved in developing, acquiring, manufacturing, and marketing proprietary healthcare and medical devices for the consumer and institutional marketplace. Its product offerings include Covid-19 diagnostic test product line, such as AcuVid COVID-19 Rapid Antigen Saliva Test and AcuVid COVID-19 Rapid Antibody Test; Sores & Bite Inflammation Therapy product line, such as InterceptCS Cold Sore Prevention System and TherOZap, and Muscle Pain & Blood Circulation Health Therapy product line, such as Venowave, which is a circulation booster designed to improve circulation in the lower extremities. Its products include Benepod, Inretio, AI4LYF, Invixa and Instatin, and others.


TSXV:THRM - Post by User

Post by AveragePennyon Oct 27, 2022 11:04am
143 Views
Post# 35053113

Therma Bright Receives New Billing Codes for Venowave

Therma Bright Receives New Billing Codes for Venowave

Toronto, Ontario--(Newsfile Corp. - October 27, 2022) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ("Therma" or the "Company"), developer of its smart-enabled AcuVid™ COVID-19 Rapid Antigen Saliva Test and other progressive diagnostic and medical device technologies, is pleased to announce that it has received new temporary PDAC (Pricing, Data Analysis and Coding) billing codes for its Venowave product giving Therma Bright immediate access to reimbursement through Medicare and Medicaid.

On September 20, 2022 Therma Bright announced that initial US sales were made under an existing reimbursement code which required preapproval from the patient's insurance provider. This resulted in longer than optimal sales cycles both for the patients, their doctors and for Therma Bright.

Therma Bright is pleased to announce that the new temporary billing codes will allow doctors and patients in the US to easily order Venowave and have it covered by Medicare, Medicaid and third-party insurers. Therma Bright has submitted an application for unique permanent HCPCS (Healthcare Common Procedure Coding System) codes to the HCPC panel for the Venowave device and related replaceable wraps. A decision on the permanent codes is expected in H1/23. Until the new permanent codes are issued Therma Bright can use the temporary codes that were issued this month to receive reimbursement. This opens the market in the US to a broader range of reimbursable applications including:

  • Management of the symptoms of post thrombotic syndrome (PTS)
  • Prevention of deep vein thrombosis (DVT)
  • Prevention of primary thrombosis
  • Treatment of lymphedema
  • Treatment of leg swelling due to vascular insufficiency
  • Treatment of varicose veins
  • Treatment of chronic venous insufficiency
  • Enhancing blood circulation
  • Treatment of intermittent claudication
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