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enVVeno Medical Announces the Issuance of a New Unique Category III CPT Code Covering the Insertion of a Bioprosthetic Valve into the Femoral Vein
New Current Procedural Terminology (CPT®) III code establishes a reimbursement pathway for the VenoValveThe VenoValve is a potential first-in-class treatment
About this update from Envveno Medical Corporation
[{"type":"text","content":"New Current Procedural Terminology (CPT®) III code establishes a reimbursement pathway for the VenoValveThe VenoValve is a potential first-in-class treatment for patients suffering from Chronic Venous Insufficiency (CVI) of the deep veins of the legThere are currently no effective treatments for patients with deep venous CVIThe VenoValve is currently being evaluated in leading hospitals throughout the U.S. in the ongoing SAVVE U.S. pivotal trialIRVINE, CA / ACCESSWIRE / July 8, 2022 / enVVeno Medical Corporation (NASDAQ:NVNO) (\"enVVeno\" or the \"Company\"), a company setting new standards of care for the treatment of venous disease, today announced that the American Medical Association (AMA) has issued a new, unique CPT III code covering the insertion of a bioprosthetic valve into the femoral vein. The new CPT code, which becomes effective January 1, 2023, will potentially be used by providers performing the VenoValve® procedure on patients across the United States.CPT codes are granted and regulated by the AMA CPT Editorial Panel and are widely used by government payers, including Medicare and Medicaid, and commercial health plans, to describe healthcare services and procedures for reimbursement. The release of this new code will enable hospitals and physicians across the U.S. to submit claims directly related to the VenoValve procedure.\"The absence of existing reimbursement codes to adequately cover the VenoValve speaks to ground-breaking, first-in-class nature of our technology,\" said Robert Berman, enVVeno Medical's Chief Executive Officer. \"Coding, coverage, and reimbursement are three important factors that impact the commercial success of any medical device. The issuance of this new CPT code is an important first step towards creating the new reimbursement pathway that will be necessary to bring the VenoValve to the millions of U.S. patients that suffer from the debilitating impact of deep venous CVI.\"The VenoValve® is bioprosthetic valve that is surgically implanted into the femoral vein as a potential treatment for deep venous CVI. The device is currently being evaluated in the SAVVE U.S. pivotal trial for safety and effectiveness. The VenoValve is intended to restore proper directional blood flow for patients with CVI of the deep veins of the leg. CVI occurs when the natural valves inside of the veins fail, causi...