C.R. Bard (NYSE:BCR) said today that the U.S. Centers for Medicare and Medicaid Services has improved the payment for Bard’s Lutonix drug-coated balloon catheter through the Medicare hospital outpatient prospective payment system.
The Murray Hill, N.J.-based company said that Medicare will now reimburse the full cost of its DCB device for percutaneous transluminal angioplasty, stenting, or atherectomy procedures.
The new reimbursement determination is retroactive to April 1 this year, the company said.
The Lutonix is the 1st FDA-approved DCB, Bard claims, and is used to treat patients with peripheral arterial disease.
“Today’s announcement is great news for patients. CMS has recognized that the Lutonix DCB meets an important patient need and has moved quickly to provide full reimbursement for this breakthrough technology in the outpatient setting,” CEO Timothy Ring said in a prepared statement.