Novadaq SPY Imaging gets CMS payment under OPPS
Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) says that the Centers for Medicare & Medicaid Services (CMS) has established SPY Vascular Angiography as a new reimbursable service under the Hospital Outpatient Prospective Payment System (OPPS).
Effective April 1, 2012, SPY is assigned to Ambulatory Payment Classification (APC) 0397 Vascular Imaging.
“CMS has recognized SPY Imaging as a standalone reimbursable procedure, which means that our products will become more accessible to the hospital outpatient system,” CEO Dr. Arun Menawat said in a statement.
“While most procedures for our current SPY applications are performed in the inpatient setting, we anticipate near-term launches of our SPY Imaging technologies into wound care and vascular procedures and PINPOINT into minimally invasive surgeries that are frequently performed in outpatient facilities,” he added.
Each year, more than one million Americans receive outpatient treatment for vascular diseases alone, including patients with chronic lower extremity ischemia, non-healing wounds, diabetic ulcers, pressure ulcers and peripheral vascular disease. For these patients, visual assessment of blood flow and tissue perfusion during procedures is critical to successful intervention, speedy recovery and reduced possibility of complications.