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Ocular Therapeutix Announces Second Medicare Administrative Contractor to Establish New Published Physician Fee Schedule for Administration of Intracanalicular Inserts
Physicians in First Coast jurisdictions may now seek professional payment for insertion of DEXTENZA® using CPT code 0356T BEDFORD, Mass--(BUSINESS WIRE)--
About this update from Ocular Therapeutix, Inc.
[{"type":"text","content":"\nPhysicians in First Coast jurisdictions may now seek professional payment for insertion of DEXTENZA® using CPT code 0356T\n\n BEDFORD, Mass--(BUSINESS WIRE)--\nOcular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that First Coast Service Options, Inc. (First Coast), one of seven Medicare Administrative Contractors (MACs), became the second MAC to establish a physician fee schedule for procedure code 0356T for the administration of drug-eluting intracanalicular inserts, including DEXTENZA® (dexamethasone ophthalmic insert) 0.4mg, effective July 1, 2020. The professional fee for CPT code 0356T is now eligible to be paid per the established local fee schedule, which can be found on the First Coast website.\n\n\n“We are pleased with the continued momentum we are seeing by MACs publishing physician fee schedules for our procedure code, 0356T,” commented Antony Mattessich, President and Chief Executive Officer of Ocular Therapeutix. “Combined, First Coast and Novitas cover approximately 30% of all Medicare members. This continues to be a positive development and one that could impact adoption, not only for DEXTENZA, but also for the other product candidates in our pipeline utilizing the same route of administration.”\n\n\nFirst Coast covers Medicare patients in Florida, Puerto Rico, and the U.S. Virgin Islands. Novitas, which the Company announced last week, covers Medicare patients in New Mexico, Texas, Colorado, Oklahoma, Arkansas, Louisiana, Mississippi, New Jersey, Pennsylvania, Delaware, Maryland, the District of Columbia, and in Virginia, Arlington and Fairfax counties and the city of Alexandria.\n\n\nAbout DEXTENZA\n\n\nDEXTENZA is FDA approved for the treatment of ocular inflammation and pain following ophthalmic surgery. DEXTENZA is a corticosteroid intracanalicular insert placed in the punctum, a natural opening in the inner portion of the lower eyelid, and into the canaliculus and is designed to deliver dexamethasone to the ocular surface for up to 30 days without preservatives. DEXTENZA resorbs and exits the nasolacrimal system without the need for removal.\n\n\nThe safety of DEXTENZA was assessed in three Phase 3 clinical trials and a Phase 2 clinical trial. Overal...