May 6 2010
Uroplasty, Inc. (NYSE Amex: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, announced today that it has been informed that percutaneous tibial nerve stimulation (PTNS), the procedure performed using the Uroplasty Urgent PC Neuromodulation System, will receive a category 1 CPT reimbursement code. This is expected to occur when those codes are published by the Centers for Medicare and Medicaid Services, which is expected in October 2010.
Reimbursement rates for the procedure have not yet been established, the new CPT code number has not been assigned, and reimbursement requests using the new CPT code may not be submitted prior to January 2011. Further, the code will not ensure that additional reimbursement agencies beyond those that currently cover the procedure, whether governmental agencies or private payers, will cover PTNS treatments.