Neovasc (Nasdaq:NVCN) announced today the Centers for Medicare and Medicaid Services (CMS) developed favorable new codes.
The new codes cover the diagnosis and tracking of refractory angina. Neovasc develops the Reducer system for reducing angina symptoms in those with refractory angina.
According to a news release, the codes will be utilized in the current, 10th revision of the International Statistical Classification of Diseases and Related Health Problems Clinical Modification (“ICD-10-CM”). The update will be made effective Oct. 1, 2022.
In total, CMS created nine new refractory angina codes. The primary code (I20.2) includes eight supplemental codes describing the condition in combination with various conditions pertaining to atherosclerosis, or hardening of the heart’s arteries.
Neovasc said the codes will help clinicians identify and accurately diagnose patients with refractory angina. Dr. Tim Henry, medical director for The Carl and Edyth Lindner Center for Research and Education, Christ Hospital, Cincinnati, called the codes “an important step for patients and clinicians.”
Henry added that there is now a “mechanism to define and measure” the costs and outcomes for refractory angina patients. He serves as the national co-principal investigator in the company’s COSIRA-II clinical trial for the Reducer.
“Today’s announcement is another important step forward for patients with refractory angina and for the Neovasc Reducer as an option for treating this disease,” said Bill Little, Neovasc COO. “The creation of the new ICD-10-CM codes will help to ensure appropriate measurement of the costs and clinical outcomes in patients who suffer from the burden of refractory angina.”