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Therma Bright's Venowave Accepted for Review By Center for Medicare & Medicaid Services for Permanent CPT and HCPCS codes
Company To Resume Trading on Toronto Stock Exchange Venture (TSXV) on February 7, 2024 Toronto, ...
About this update from Therma Bright Inc.
[{"type":"text","content":"Therma Bright's Venowave Accepted for Review By Center for Medicare & Medicaid Services for Permanent CPT and HCPCS codesCompany To Resume Trading on Toronto Stock Exchange Venture (TSXV) on February 7, 2024Toronto, Ontario--(Newsfile Corp. - February 6, 2024) - 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, has received a letter from the Center of Medicare and Medicaid. The letter confirms that CMS is reopening the Company's application for its Venowave device for consideration on securing permanent Current Procedural Terminology (CPT®) / Healthcare Common Procedure Coding System (HCPCS) codes. As outlined in an Official Letter from the Centers for Medicare & Medicaid Services (CMS) to the Company's regulatory advisor - \"We have reviewed your request for reconsideration of the final benefit category determination (BCD) for Venowave VW5 and Supplies (Venowave), application #HCP220922Q7MRO. In the final BCD we stated that Venowave did not fall into a durable medical equipment, prosthetics, orthotics and supplies (DMEPOS) benefit category because it was a single patient use item. DME is defined in Medicare regulations at title 42 Code of Federal Regulations (CFR) 414.202 as equipment furnished by a supplier or a home health agency that meets five conditions, including that of being able to withstand repeated use. Based on the new information provided in your reconsideration request, we believe it is appropriate to re-open your application and to include it in the upcoming First Biannual 2024 HCPCS (B1 2024) cycle. This means that during the B1 2024 cycle we will issue a new preliminary coding decision, BCD, and payment determination; you will have an opportunity to attend and provide comment at the public meeting; and we will then issue a new final determination.\"In other news, Therma Bright has received notification from the Toronto Stock Exchange Venture (TSXV), that the Company's stock will resume trading on February 7, 2024.About Therma Bright Inc.Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that addre...