6 Nov 2017 07:00
BTG plc: Varithena® receives finalised category I CPT codes
New payment rates and automatic electronic processing of claims effective 1 January 2018
London, UK, 6 November 2017: BTG plc (LSE: BTG), the global specialist healthcare company, notes that the US Centers for Medicare and Medicaid Services have published the final fee schedule for new Category I CPT codes for Varithena® procedures. The codes will be effective from 1 January 2018.
The fee schedule details payments for conducting Varithena® treatments in the physician office setting of $1,624.30 for a single vein and $1,697.02 for multiple veins. The new CPT codes define Medicare payment rates and enable automatic and electronic processing of claims, providing physicians in the US with further predictability of payment and streamlining the reimbursement process.
"We believe the new CPT codes are appropriate and have the potential to underpin our current expectations for the product," commented Louise Makin, BTG's CEO. "However, we must wait and see how they impact physician adoption and insurer practices, and we should have a better understanding of that by the end of 2018."
For further information contact
BTG
Andy Burrows, VP Corporate & Investor Relations
+44 (0)20 7575 1741; Mobile: +44 (0)7990 530 605
Stuart Hunt, Investor Relations Manager
+44 (0)20 7575 1582; Mobile: +44 (0)7815 778 536
Chris Sampson, Corporate Communications Director
+44 (0)20 7575 1595; Mobile: +44 (0)7773 251 178
FTI Consulting
Ben Atwell/Simon Conway
+44 (0)20 3727 1000
About BTG
BTG is a global specialist healthcare company bringing to market innovative products in specialist areas of medicine to better serve doctors and their patients. We have a portfolio of Interventional Medicine products to advance the treatment of cancer, severe emphysema, severe blood clots and varicose veins, and Specialty Pharmaceuticals that help patients overexposed to certain medications or toxins. Inspired by patient and physician needs, BTG is investing to expand its portfolio to address some of today's most complex healthcare challenges. To learn more about BTG, please visit: btgplc.com.