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