On Tuesday, Milestone Scientific Inc (NYSE:MLSS) announced that Novitas Solutions, Inc., a Jurisdictional Medicare Administrative Contractor (JMAC), has granted a Medicare Part B Physician payment rate for the company's CompuFlo Epidural System under the American Medical Association's (AMA) technology-specific Category III CPT code CPT0777T (real-time pressure-sensing epidural guidance system when used in conjunction with a primary ESI procedure).
This new price assignment applies to two Medicare regions:
- Jurisdiction L (JL) includes Delaware, District of Columbia, Maryland, New Jersey, and Pennsylvania.
- Jurisdiction H (JH) includes Arkansas, Colorado, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas.
The pricing assignment by Novitas represents a significant step forward in Milestone Scientific's strategy to ensure broad coverage and appropriate payment for the CompuFlo technology when deemed medically necessary and clinically appropriate for Medicare beneficiaries.
This decision follows the recently announced Medicare Jurisdiction N (JN) pricing assignment in Florida by First Coast Service Options Inc.
Also Read: EXCLUSIVE: Milestone Scientific Announces Favorable Medicare Pricing For CompuFlo Epidural System For Back Pain Covering Florida.
An estimated 3.0 million epidural steroid injection (ESI) procedures are performed yearly in these three jurisdictions (JL, JH, JN), representing approximately one-third of the total ESI procedures for treating chronic back pain in the United States.
Additionally, Medicare is expected to account for up to 40% of the clinical practice volume, representing an initial addressable market of approximately $250 million among Medicare patients in these three jurisdictions, the company said.
The CompuFlo Epidural System uses Milestone Scientific's patented Dynamic Pressure Sensing technology, which provides real-time feedback to ensure accurate needle placement during epidural procedures. This technology is designed to reduce the morbidity, pain, and discomfort associated with traditional epidural techniques.
Price Action: MLSS stock is trading lower by 4.49% at $0.83 premarket at the last check on Tuesday.
- AnaptysBio Investigational Arthritis Drug Might Have Better Efficacy Profile Than Eli Lilly's: Analyst.