The Centers for Medicare and Medicaid Services issued guidance today noting that Insulet‘s (NSDQ:PODD) Omnipod tubeless insulin delivery device can be covered by the Medicare Part D prescription drug program.
The Billerica, Mass.-based company estimated that its latest reimbursement win extends access to the Omnipod system to 450,000 people with Type I diabetes across the U.S.
Insulet has also reportedly contracted Express Scripts and Caremark Health, the two largest pharmacy benefit managers in the country, to provide its Omnipod system to patients.
“We are incredibly excited about CMS’ confirmation that Omnipod is eligible for coverage under Medicare Part D, which allows many additional people living with diabetes to benefit from Omnipod’s freedom and ease of use,” chairman & CEO Patrick Sullivan said in prepared remarks.
“Gaining Medicare coverage of our Omnipod System was one of our top priorities, since individuals living with diabetes deserve the right to choose the product that will best help them manage their diabetes. We are thrilled more people will be able to choose our innovative and differentiated Omnipod technology, which delivers continuous insulin without the use of tubes and eliminates the stress and anxiety of multiple daily injections.”
“Access to appropriate technology is paramount for people living with diabetes and is a key priority for our organization,” president & chief operating officer Shacey Petrovic added. “With a low up-front cost and unique, disposable three-day wear, the pharmacy channel is a natural fit for Omnipod and will provide Omnipod users an even better customer experience with broader and easier access to our unique platform through their pharmacy benefits.”
