Ocular Therapeutix (NSDQ:OCUL) said today that the Centers for Medicare and Medicaid Services approved a transitional pass-through payment status and established a new reimbursement C-code for its Dextenza device.
The Bedford, Mass.-based company’s Dextenza device is designed to deliver drugs for up to 30 days following treatment in a physician’s office. Ocular Therapeutix is positioning its product as a way to eliminate the current standard of care for post-surgical pain – topical steroid eye drops.
Ocular Therapeutix said that the C-code it received is scheduled to become effective on July 1, 2019. The receipt of the C-code will allow for CMS to reimburse for Dextenza until the group approves a J-Code, which has already been preliminarily recommended and if granted, would become effective January 1, 2020.
“We are pleased to receive pass-through payment status and assignment of a new C-code for Dextenza which physicians and their practices may use for reimbursement of the product. With sample product available and insertion training sessions already underway, the receipt of the C-code is another important step in the commercial launch of Dextenza,” prez & CEO Antony Mattessich said in a press release.
Earlier this month, Ocular Therapeutix said that a Phase 3 clinical trial of its ORX-TP eye insert failed to meet the primary endpoint of significant superiority in the reduction of intraocular pressure.