Intersect ENT (NSDQ:XENT) said today that budget impact data on its Propel steroid releasing implant for treating chronic sinusitis showed upfront costs offset by savings post-operatively.
The data was presented at the International Society for Pharmaeconomics and Outcomes Research annual meeting in Milan, Italy.
“A previous study demonstrated the use of Propel in sinus surgery for medically refractory chronic sinusitis may be a cost-effective intervention for preventing medical and surgical intervention following sinus surgery. This complementary analysis demonstrates the ‘affordability’ for a payor or self-funded employer which will continue to assist in the making appropriate coverage decisions,” study author Dr. Luke Rudmik of the University of Calgary said in a press release.
The study reported that using propel had a “negligible impact” of -3¢ to 2¢ per member per month for self-insured employers or U.S. commercial payors.
Upfront cost was offset by savings associated with reduced post-operative inflammation and scarring probabilities and their treatment costs, the Menlo Park, Calif.-based company said.
Intersect ENT said refractory chronic sinusitis results in productivity costs to employers of over $10,000 per patient annually due to lost work days.
“Chronic sinusitis is one of the top 10 most costly conditions to U.S. employers – associated with a heavy societal productivity cost of more than $12 billion annually in the U.S. In today’s health care environment, we need solutions that optimize long-term cost effectiveness by reducing unnecessary complications, while ensuring that they are affordable today for payors and providers. Propel’s clinically proven ability to improve surgical outcomes while reducing the need for additional medications and procedures make it attractive from both a clinical and economic perspective. Propel is well positioned to positively impact health care today and in the future,” CEO Lisa Earnhardt said in prepared remarks.
The propel device is a small steroid releasing implant designed to improve surgical outcomes for patients with chronic sinusitis undergoing ethmoid sinus surgery.
Last month, Intersect ENT said it submitted a supplemental premarket approval application to the FDA to expand the indication on its Propel mini steroid releasing implant to cover frontal sinus surgeries.
The new indication would allow the drug-device combo to be used in the frontal sinuses, located behind the eyebrows, the Menlo Park, Calif.-based company said.