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TheraSkin® to be Added to
Medicare Part B Average Sales Price File
Change Reduces Administrative Burden on Physician Offices and
Newport News, VA (June 25, 2012) – TheraSkin, a real skin therapy that effectively treats chronic wounds, will be added to the Medicare Part B Average Sales Price File* effective July 1, 2012. “This significant development reduces administrative burden on physician offices and speeds payment through claims automation,” remarked Kerry McCarter, CEO of Soluble Systems, LLC. “Rather than being required to submit invoices for product reimbursement, physician offices will simply be paid according to Average Sales Price (ASP) limits set by the Centers for Medicare and Medicaid Services (CMS). This minimizes reimbursement barriers to care – and more importantly, enables TheraSkin to heal more patients.”
Physicians can now choose the best location to treat patients with TheraSkin. A recently published peer-reviewed research study involving 188 patients showed that TheraSkin closed over 60% of “non-healing” ulcers in 12 weeks, typically with 2-3 applications. “Not only is TheraSkin effective, it is also 50 to 70 percent less expensive than competing products,” added McCarter. “This can potentially save the Medicare program more than a billion dollars over the next decade.”
Medicare Part B co-insurance for alternative products can run as high as $2,400. Because TheraSkin is less expensive per unit with fewer applications generally required, a patient’s co-insurance for an entire course of treatment can be $500 or less.
Like bioengineered skin substitutes (BSS), TheraSkin provides necessary growth factors and cytokines to treat chronic wounds. “What makes TheraSkin different is that it also provides a large quantity of essential human collagens in appropriate ratios to support healing,” remarked McCarter. Because TheraSkin is a biologically active cryopreserved human skin allograft, its fully developed extracellular matrix (ECM) and living cells provide an “at-ready” supply of human growth factors, cytokines and collagen to jumpstart wound healing.
More information on TheraSkin and its parent company, Soluble Systems, LLC is available by visiting www.solublesystems.com. Soluble Systems, LLC has partnered with the Skin and Wound Allograft Institute (SWAI), a wholly owned subsidiary of LifeNet Health, to bring TheraSkin to market. LifeNet Health is the world’s largest provider of bio-implants and organs for transplantation. For additional information about SWAI, please visit www.SWAI.org.
* Specifically, the CMS Medicare Part B (ASP) pricing file for TheraSkin has been established at an allowable rate of $22.73 per unit (effective July 1, 2012 through September 30, 2012.) Payment amounts in the quarterly ASP files are 106 percent of the ASP calculated from data submitted by drug and biologic manufacturers. Quarter-to-quarter price changes are generally the result of updated data from the manufacturers of these drugs and biologicals. ASP pricing applies to TheraSkin customers’ billing in the physician office setting place of service (POS 11). TheraSkin users billing under hospital outpatient (POS 22) and ambulatory surgical center (POS 24) sites of service utilize CMS OPPS and ASC fee schedules, respectively.