SomnoMed’s new SomnoDent® Herbst Advance Classic and Flex oral appliances received CMS approval this week and were allocated the HCPCS Code of E 0486 for DME billing, allowing for a U.S. Medicare reimbursement.
SomnoMed’s shares are expected to trade higher on the news.
Medicare patients can now apply for specified reimbursement for the device and their treatment from now on. The SomnoDent Herbst Advance devices were officially launched in the U.S. this month through SomnoMed’s network of sleep dentists.
Devices will also be available to the market through SomnoMed’s U.S. and Canadian licensees. Patents were lodged for the SomnoDent Herbst Advance earlier this year in core markets. The products feature new components, which are designed to make fitting and titration of the device easier and more precise for dentists and patients.
A press release issued by SomnoMed predicts that Medicare approval for the device will drive further sales as the cost to the end consumer is significantly reduced or eliminated.
Source: Proactive Investors