RobThatsMe
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Hi,
I thought this may be of interest to some.
Rob
Thoratec Says New Medicare Coverage Should Expand Market for ProTime® System
Pleasonton, California
June 3, 2002
(Enhanced)
Thoratec Corporation,a world leader in products to treat cardiovascular disease, said today that a new coverage decision to provide Medicare reimbursement for home use of blood coagulation testing equipment should significantly expand the market opportunity for its ProTime® Microcoagulation System.
Manufactured and marketed by Thoratec's International Technidyne Corporation (ITC) division, the ProTime® System is used by patients who take blood-thinning drugs, such as Coumadin® (warfarin).
Until now, Medicare reimbursement has been available only for testing done at a physician's office or laboratory. The expanded coverage is expected to become effective on July 1, 2002.
The national coverage decision was made by The Centers for Medicare and Medicaid Services (CMS), which estimates that currently patients typically receive blood coagulation monitoring about once a month.
The expanded coverage decision provides reimbursement for weekly home testing. "We believe that this broader Medicare coverage will be an important catalyst for the expansion of home coagulation testing," said D. Keith Grossman, president and chief executive officer of Thoratec.
"The potential home testing market is estimated at $100 million or more and given ProTime's strong market presence, we are well positioned to capitalize on what we believe will be a growing opportunity," he added.
Through a small fingerstick blood sample, the ProTime® device is used to measure blood coagulation time, also known as prothrombin time, and ensure that the patient's dosage is sufficient to avoid the risk of a coronary artery clot and brain attack (stroke), or internal bleeding.
It is most commonly used by heart valve patients who have received a mechanical heart valve, the presence of which is known to cause clotting problems if the patient is not properly anticoagulated.
ProTime® was the FIRST coagulation system approved by the FDA for patient self-testing. "The scientific evidence overwhelmingly demonstrates that patients who self-monitor will more often remain in the proper dosage range," said the president of ITC.
"This was a key factor in CMS's decision to expand the Medicare coverage, particularly for patients who find it inconvenient to go to the doctor's office or laboratory to be tested.
As a result, we believe these patients will test themselves on a more frequent basis," he added.
The ProTime device has several features that make it well suited for home testing. "Our system is ideal for the elderly with its on-board quality assurance checks and error-proof sample collection method that does not require the patient to place a drop of blood on an exact spot on a test strip.
Blood collection is made easy with the Tenderlett®+ finger lancing and collection system developed and patented by ITC. There are no other systems that have this feature."
Thoratec Corporation is engaged in the research, development, manufacturing and marketing of medical devices for circulatory support, vascular graft, blood coagulation and skin incision applications.
The Thoratec® Ventricular Assist Device (VAD) System is the only ventricular assist device that is approved for use as both a bridge-to-transplant and for recovery from open-heart surgery and has been used in the treatment of more than 1,800 patients.
The company is also a leader in implantable left ventricular assist systems. Its air-driven and electric HeartMate® heart assist devices, which have been implanted in more than 3,200 patients, are implanted alongside the natural heart and take over the pumping functions of the left ventricle for patients whose hearts are too damaged or diseased to produce adequate blood flow.
The company's other products include the Vectra® vascular access graft, which is used in patients undergoing hemodialysis, and is approved for sale in the U.S., Europe and Japan and a number of other foreign countries.
Its Aria? coronary artery bypass graft, which is designed for use by patients having too few suitable native blood vessels, is currently in clinical trials in the U.S. (See === More STENT-MANIA === plus message today)
The company's International Technidyne division supplies whole-blood coagulation testing equipment and related disposables, as well as premium quality single-use skin incision devices.
Headquartered in Pleasanton, California, the company also has facilities in Woburn, Massachusetts, Rancho Cordova, California, and Edison, New Jersey.
ITC
Better PRODUCTS for a better WORLD
ITC is a wholly-owned subsidiary of Thoratec Corporation
I thought this may be of interest to some.
Rob
Thoratec Says New Medicare Coverage Should Expand Market for ProTime® System
Pleasonton, California
June 3, 2002
(Enhanced)
Thoratec Corporation,a world leader in products to treat cardiovascular disease, said today that a new coverage decision to provide Medicare reimbursement for home use of blood coagulation testing equipment should significantly expand the market opportunity for its ProTime® Microcoagulation System.
Manufactured and marketed by Thoratec's International Technidyne Corporation (ITC) division, the ProTime® System is used by patients who take blood-thinning drugs, such as Coumadin® (warfarin).
Until now, Medicare reimbursement has been available only for testing done at a physician's office or laboratory. The expanded coverage is expected to become effective on July 1, 2002.
The national coverage decision was made by The Centers for Medicare and Medicaid Services (CMS), which estimates that currently patients typically receive blood coagulation monitoring about once a month.
The expanded coverage decision provides reimbursement for weekly home testing. "We believe that this broader Medicare coverage will be an important catalyst for the expansion of home coagulation testing," said D. Keith Grossman, president and chief executive officer of Thoratec.
"The potential home testing market is estimated at $100 million or more and given ProTime's strong market presence, we are well positioned to capitalize on what we believe will be a growing opportunity," he added.
Through a small fingerstick blood sample, the ProTime® device is used to measure blood coagulation time, also known as prothrombin time, and ensure that the patient's dosage is sufficient to avoid the risk of a coronary artery clot and brain attack (stroke), or internal bleeding.
It is most commonly used by heart valve patients who have received a mechanical heart valve, the presence of which is known to cause clotting problems if the patient is not properly anticoagulated.
ProTime® was the FIRST coagulation system approved by the FDA for patient self-testing. "The scientific evidence overwhelmingly demonstrates that patients who self-monitor will more often remain in the proper dosage range," said the president of ITC.
"This was a key factor in CMS's decision to expand the Medicare coverage, particularly for patients who find it inconvenient to go to the doctor's office or laboratory to be tested.
As a result, we believe these patients will test themselves on a more frequent basis," he added.
The ProTime device has several features that make it well suited for home testing. "Our system is ideal for the elderly with its on-board quality assurance checks and error-proof sample collection method that does not require the patient to place a drop of blood on an exact spot on a test strip.
Blood collection is made easy with the Tenderlett®+ finger lancing and collection system developed and patented by ITC. There are no other systems that have this feature."
Thoratec Corporation is engaged in the research, development, manufacturing and marketing of medical devices for circulatory support, vascular graft, blood coagulation and skin incision applications.
The Thoratec® Ventricular Assist Device (VAD) System is the only ventricular assist device that is approved for use as both a bridge-to-transplant and for recovery from open-heart surgery and has been used in the treatment of more than 1,800 patients.
The company is also a leader in implantable left ventricular assist systems. Its air-driven and electric HeartMate® heart assist devices, which have been implanted in more than 3,200 patients, are implanted alongside the natural heart and take over the pumping functions of the left ventricle for patients whose hearts are too damaged or diseased to produce adequate blood flow.
The company's other products include the Vectra® vascular access graft, which is used in patients undergoing hemodialysis, and is approved for sale in the U.S., Europe and Japan and a number of other foreign countries.
Its Aria? coronary artery bypass graft, which is designed for use by patients having too few suitable native blood vessels, is currently in clinical trials in the U.S. (See === More STENT-MANIA === plus message today)
The company's International Technidyne division supplies whole-blood coagulation testing equipment and related disposables, as well as premium quality single-use skin incision devices.
Headquartered in Pleasanton, California, the company also has facilities in Woburn, Massachusetts, Rancho Cordova, California, and Edison, New Jersey.
ITC
Better PRODUCTS for a better WORLD
ITC is a wholly-owned subsidiary of Thoratec Corporation
