Tissue Regenix (LON:TRX) has passed a significant milestone in the US with its DermaPure product receiving a product reimbursement “Q code”.
The DermaPure dermal allograft is now registered in the Healthcare Common Procedure Coding System (HCPCS) used by Medicare and Medicaid, the government-administered healthcare insurance schemes.
The new reimbursement code takes effect on January 1, 2015, and will open up the outpatient market to DermaPure, enabling Medicare and Medicaid centres to prescribe the wound-care treatment to patients and, importantly, receive reimbursement for dispensing the product.
Tissue Regenix said the assignment of the code expands the market for the treatment beyond acute care hospitals to health clinics, physicians and outpatient facilities.
"The Q code assignment by Centers for Medicaid and Medicare allows Tissue Regenix to target the sizeable US wound and tissue market. Clinicians who have used DermaPure have reported positively on its benefits to their patients. The Q code will significantly expand the number of clinicians that will be able to utilise DermaPure," said Antony Odell, chief executive officer of Tissue Regenix.
Shares in Tissue Regenix were up 5.1% at 23.39p in early deals.