VentureMed has announced that they have been granted a transitional pass-through (TPT) payment category and a new Healthcare Common Procedure Coding System (HCPCS) C-code by the Centers for Medicare and Medicaid Services (CMS) for the FLEX vessel prep (FLEX VP) system (VentureMed), which will be effective from 1 January 2024 and will remain for the following two to three years. This TPT will allow outpatient facilities to utilise FLEX VP by providing incremental payments.
Commenting on the decision from CMS, the founder of the Dialysis Access Institute, John Ross (Orangeburg, USA) said “CMS approval of a TPT for VentureMed’s FLEX device is monumental and will provide access of this novel technology to many deserving patients. The dialysis access community is well served by this positive decision.”
Denis Harrington, VentureMed president and CEO, added: “This is an exciting time for VentureMed. This new C-code supports access for our FLEX vessel prep system for hospitals and ambulatory service centres (ASCs). Our reimbursement team provided a complete and thorough review of the product and our clinical results, which resulted in TPT approval. This approval was granted in part based on FLEX vessel prep meeting CMS criteria for substantial clinical improvement over the existing standard of care. Combined with our recently announced achievement of European Medical Device Regulation (MDR) Certification, this approval continues to underscore VentureMed’s commitment to optimal patient care. I am proud of the team and excited for the growth this will enable.”