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Therma Bright Provides Update on Venowave's Permanent CPT/HCPCS Codes and United States Distribution Partners
Toronto, Ontario--(Newsfile Corp. - August 4, 2023) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBR...
About this update from Therma Bright Inc.
[{"type":"text","content":"Therma Bright Provides Update on Venowave's Permanent CPT/HCPCS Codes and United States Distribution PartnersToronto, Ontario--(Newsfile Corp. - August 4, 2023) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (\"Therma\" or the \"Company\"), developer and partner in a wide-range of leading-edge, proprietary diagnostic and medical device technologies, announced today that it expects a final decision regarding the issuance of the unique permanent Current Procedural Terminology (CPT®) / Healthcare Common Procedure Coding System (HCPCS) codes to be released by the Centers for Medicare and Medicaid Services (CMS) within the coming weeks. Furthermore, the Company would also like to announce that it is growing its U.S. distribution partner network and encouraging continued use of the (9) temporary CPT and HCPCS codes. Specifically, the Company's distributor in Texas has already tapped into its doctor network and is processing the temporary code applicants for reimbursement. The Texas distributor believes that these temporary codes, with established reimbursement amounts, will help them accelerate adoption and purchases of the Venowave solution through its large doctor network.In addition to having the South-Central region covered with the Texas distributor, Therma Bright is in the final stages of securing a Northeast distributor out of Connecticut and is in early discussions with a Medicare Advantage group in Florida; the Southeast region partner. Both organizations have vast doctor networks to sell the Venowave, which will greatly expand sales and distribution of the innovative circulatory device.\"We're pleased with our current distribution partners' efforts in selling the Venowave through our nine (9) temporary CPT® and HCPCS codes,\" shared Rob Fia, CEO of Therma Bright. \"In fact, one of our potential new distribution partners is a Medicare Advantage healthcare provider, who offer bundled plans to patients who can only use doctors within this network. Medicare Advantage groups can purchase directly from the Company, which effectively is dealing directly with the payor. We believe this will help secure more Venowave sales with greater distribution for the Company.\"Medicare Advantage is a Medicare-approved plan from a private company that offers an alternative to Original Medicare for senior citizens health and drug cove...