New Category III CPT Code for the Nuwellis Aquadex Ultrafiltration System is Now in Effect
January 25 2022 - 8:00AM
Nuwellis, Inc. (Nasdaq: NUWE) today announced that the new and
dedicated Category III Current Procedural Terminology (CPT®) code,
0692T for Therapeutic Ultrafiltration, is now in effect. Healthcare
providers can utilize this code when using Aquadex® to deliver
ultrafiltration to adult and pediatric patients (≥ 20kg).
“Reimbursement is critical in hospital administration
decision-making and can make a difference in whether patients have
access to the treatment they need,” said Nestor Jaramillo, Jr.,
President and CEO of Nuwellis. “Ultrafiltration provides a
life-saving therapy and significantly improves quality of life and
economic savings. The Category III CPT code will expand access for
patients experiencing the burden of fluid overload.”
The specific code for ultrafiltration was granted by the
American Medical Association (AMA) in July 2021 after a thorough
review and validation that the Aquadex technology met the criteria
for a Category III CPT code. CPT codes are created and maintained
by the AMA CPT Editorial Panel and 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, or until a Category I code is
established.
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 Eden Prairie, Minn., with a wholly owned
subsidiary in Ireland.
About the Aquadex SmartFlow SystemThe Aquadex
SmartFlow system delivers clinically proven therapy using a simple,
flexible, and predictable 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:
Matt Basco, CFA
Gilmartin Group LLC
Matt.basco@gilmartinir.com
MEDIA:
Sarah Lundberg
Health+Commerce
sarahlundberg@healthandcommerce.com
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