Intrinsic Therapeutics Announces Changes in CMS’ 2025 Final Rule for Bone Anchored Annular Closure Resulting in Improved Payment for Hospital Outpatient and ASCs
BOSTON, Nov. 12, 2024 /PRNewswire/ — Intrinsic Therapeutics, a medical technology company driving to change the standard of care for lumbar discectomy patients with large annular defects by reducing reoperations for reherniations by 81% with its Barricaid Annular Closure Device, announced today that the Centers for Medicare & Medicaid Services (CMS) issued the 2025 Final Rule regarding Ambulatory Surgical Center (ASC) and Hospital Outpatient Prospective Payment System (OPPS), which becomes effective January 1, 2025.
The Final Rule updated the Medicare payment rate for HCPCS procedure code C9757, created specifically to describe a lumbar discectomy with repair of annular defect using the Barricaid Bone Anchored Annular Closure implant, from $6,500.62 to $9,527.15 in the Ambulatory Surgery Center (ASC), an increase of 46%. “We are gratified by CMS’ evaluation of a complex series of facts to arrive at this decision. More patients around the country will now have access to the proven Barricaid treatment”, commented April Spillane, VP of Health Economics at Intrinsic Therapeutics.
“On the heels of the AMA CPT editorial panel accepting the addition of a new CAT-1 CPT code for bone anchored annular closure, as well as CDC’s issuance of specific ICD-10 Diagnostic codes, CMS’ decision to adjust payment levels represents one of the last puzzle pieces to secure patient access to this important innovation,” stated Dr. Paul Kraemer, Orthopedic Surgeon at Indiana Spine Group. “Patients deserve the opportunity to make their first spine surgery their last spine surgery. This decision will help make it economically feasible for surgeons and facilities to offer the Barricaid procedure.”
About Barricaid
Barricaid is a proprietary technology designed to prevent reherniation and reoperation in patients with large annular defects following lumbar discectomy surgery. Barricaid has been implanted in more than eleven thousand patients and is supported by clinical studies in 8 distinct patient populations, including two randomized controlled trials and six single arm studies. A multicenter level I RCT demonstrating superior outcomes to discectomy alone with 5-year results was published in JAMA.
For full benefit-risk information, please visit www.Barricaid.com
Barricaid is a registered trademark of Intrinsic Therapeutics, Inc.
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SOURCE Intrinsic Therapeutics, Inc.
