Covalon's ColActive Plus Receives Medicare Billing Codes in Advance of the Symposium on Advanced Wound Care in Denver
(via Thenewswire.ca)
MISSISSAUGA, Ontario - May 1, 2013 - /Newswire/ - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced its Collagen Matrix Dressings, ColActive(R) Plus and ColActive(R) Plus Ag have been assigned Healthcare Common Procedure Coding System (HCPCS) codes for Medicare billing. Covalon's ColActive Plus line of collagen wound dressings are used for treatment of chronic wounds, including diabetic foot ulcers, and have been marketed and sold in the United States and elsewhere since 2005.
In February of this year, Medicare Pricing, Data Analysis and Coding (PDAC) announced that for claims with dates of service on or after June 1, 2013, the only products which may be billed to Medicare using the Collagen Dressing Codes are those for which a written coding verification has been made by the PDAC contractor and are listed on the Product Classification List in the Durable Medical Equipment Coding System (DMECS) maintained on the PDAC web site www.dmepdac.com/dmecsapp/do/search.1
"The timing of this announcement is significant because it means our customers and the healthcare professionals who use HCPCS codes for DME billing will continue to be reimbursed after June 1st when using ColActive Plus" said Brian Pedlar, Covalon's Chief Executive Officer. "There are a limited number of Collagen Wound Dressings that have been re-approved and we expect this to be a topic of discussion at SAWC in Denver."
SAWC is the largest annual gathering of wound care clinicians in the United States. The symposium provides an opportunity for Covalon to showcase its wound care products to more than 2,000 physicians, podiatrists, nurses, therapists, and researchers and over 200 leading wound care product manufacturers, wholesalers and distributors are expected to attend the 2013 Spring SAWC meeting.
Covalon will also be showcasing its portfolio of advanced dressing technologies, including the recently FDA cleared line of antimicrobial silicone based adhesive dressings, IV Clear and SurgiClear, both of which have already received HCPCS codes for their respective categories. These exciting new products are available for immediate licensing or distribution.
To learn more about Covalon's products and services, please visit us at booth 841 in the Colorado Convention Center from May 1-5 or contact Brian Pedlar, CEO, Covalon Technologies Ltd. at bpedlar@covalon.com.
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1.https://www.dmepdac.com/resources/articles/2013/02_25_13.html
For further information please contact:
Brian Pedlar
CEO, Covalon Technologies Ltd.
Email: bpedlar@covalon.com
Phone: 905.568.8400 x 233
Toll free: 1.877.711.6055
Fax: 905.568.5200
Web site:www.covalon.com
Twitter:@covalon
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
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