Profound Medical Announces CMS Extension of Temporary 'Code' for TULSA to ASC Setting
Profound Medical Corp., a medical device company specializing in customizable, incision-free therapies, has announced that the U.S. Centers for Medicare and Medicaid Services (CMS) has extended the use of the HCPCS C code, C9734, for the Ambulatory Surgical Center (ASC) setting. This code is specifically assigned to MRI-Monitored Transurethral Ultrasound Ablation (TULSA) of prostate tissue performed using Profound's TULSA-PRO® system. The extension will take effect on January 1, 2024. The CMS decision recognizes the increasing use and lower risks associated with outpatient procedures like TULSA, providing more options for Medicare patients in both hospitals and ASCs. This development highlights Profound Medical's commitment to advancing innovative medical solutions in the field of prostate ablation.
Implications of CMS Extension of Temporary 'Code' for TULSA on New Businesses
The decision by the U.S. Centers for Medicare and Medicaid Services (CMS) to extend the use of the HCPCS C code, C9734, for the Ambulatory Surgical Center (ASC) setting has significant implications for new businesses in the medical device industry. This code is assigned to MRI-Monitored Transurethral Ultrasound Ablation (TULSA) of prostate tissue, a procedure performed using Profound Medical's TULSA-PRO® system.
The CMS decision reflects the growing trend and preference for outpatient procedures due to their lower risks and increased convenience for patients. This could potentially fuel demand for innovative, minimally invasive medical devices like the TULSA-PRO® system. Consequently, new businesses in this sector may need to focus their efforts on developing similar solutions that align with this trend.
Moreover, the decision provides more options for Medicare patients, which could lead to a broader patient base for businesses offering such services. However, it also means that new businesses will need to navigate the complex landscape of CMS coding and billing.
Overall, while this development presents opportunities, it also underscores the need for new businesses to stay abreast of regulatory changes and adapt their strategies accordingly.
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