PRINCETON, N.J.--(BUSINESS WIRE)--Derma Sciences, Inc. (Nasdaq:DSCI), a tissue regeneration company focused on advanced wound and burn care, announces that the Centers for Medicare & Medicaid Services (CMS) has reinstated coverage and assigned a reimbursable code for MEDIHONEY® dressings effective immediately.
Edward J. Quilty, Chairman and Chief Executive Officer of Derma Sciences commented, “MEDIHONEY® dressings are exceptional, versatile and cost-effective advanced wound care dressings that have helped hundreds of thousands of patients suffering with non-healing wounds. We extend thanks to all our stakeholder groups for their work in support of reinstating coverage. We are pleased that CMS responded to the patients, wound care specialists, Wound Care Trade Associations and Members of Congress who spoke out about the importance of MEDIHONEY® products as a meaningful component in healing acute and chronic wounds.”
Additionally, the four Medicare Administrative Contractors (MACs) that handle durable medical equipment (DME) issued policy adjustments over the last week. Importantly, the January 22, 2015 policy article, which introduced a new coverage standard and was the basis of the MEDIHONEY® products’ coding change from covered to non-covered codes, has been rescinded effective June 12, 2015. An amended policy article, adopted by all four DME MACs and effective October 1, 2015, specifically confirms that coverage of multi-component dressings that contain medicinal honey will be based on the underlying covered components.
The assignment of this Healthcare Common Procedure Coding System or “HCPCS” code [A4649, miscellaneous surgical supply] immediately re-opens access to MEDIHONEY® products, the global leading and trusted line of medical grade honey products, for Medicare Part B patients with eligible wounds.
About Derma Sciences, Inc.
Derma Sciences is a tissue regeneration company focused on advanced wound and burn care. It offers a line of products with patented technologies to help better manage chronic and hard-to-heal wounds, many of which result from diabetes and poor vascular functioning. The Company sells AMNIOEXCEL® amniotic allograft membrane and AMNIOMATRIX® amniotic allograft suspension into the $500 million market for skin substitute products. Derma Sciences’ MEDIHONEY® product line is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown in clinical studies to be effective in a variety of indications. TCC-EZ® is a gold-standard total contact casting system for diabetic foot ulcers. Other novel products introduced into the $14 billion global wound care market include XTRASORB® for better management of wound exudate, and BIOGUARD® for barrier protection against microbes and other contaminants. Its pharmaceutical product in development, aclerastide (a patented peptide analog of angiotensin), is currently in Phase 3 and 3b clinical trials for the closure of diabetic foot ulcers. Aclerastide is also in pre-clinical development for the prevention and reduction of scarring after surgical incision and wound closure. Aclerastide is also part of a BARDA grant program for the mitigation and treatment of skin damage associated with exposure to ionizing radiation. The Company also offers a full product line of traditional dressings.
For more information please visit www.dermasciences.com.
Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release or that are otherwise made by or on behalf of the Company. Factors that may affect the Company's results include, but are not limited to development and commercialization of aclerastide (DSC127), product demand, market acceptance, impact of competitive products and prices, product development, completion of an acquisition, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include but are not limited to, those discussed in the Company's filings with the U.S. Securities and Exchange Commission.