Insightec has won Medicare coverage for its magnetic technology that treats essential tremor via ultrasound.
The Centers for Medicare and Medicaid Services have approved the company’s Exablate Neuro device for patients in 10 U.S. states and will add coverage for six more states July 1, according to a company statement. Additional Medicare administrative contractors have issued positive draft local coverage determinations, indicating the potential to further expand Medicare coverage to a total of 38 states.
Haifa, Israel-based Insightec refers to its magnetic-resonance-guided focused ultrasound procedure (MRgFUS) as “incisionless surgery.” Its technology uses focused ultrasound to ablate targeted tissue under the image and temperature guidance of the magnetic resonance machine. It is designed to enable the physician to perform non-invasive treatment with little to no harm to the surrounding tissue and with minimal side effects, according to the company.
“The decision from these Medicare administrative contractors to cover Insightec’s MRgFUS essential tremor treatment is a welcome recognition of the clinical and economic benefits of incisionless brain surgery for people living with essential tremor,” said Insightec CEO Maurice Ferré.
“By formalizing insurance coverage, Medicare is expanding access to focused ultrasound for many more patients and physicians.”
States with CMS for the technology coverage include: Connecticut, Maine, New Hampshire, Rhode Island, Vermont, New York, Massachusetts, Illinois, Wisconsin and Minnesota. Additional states offering coverage effective July 1 are Indiana, Iowa, Kansas, Nebraska, Michigan and Missouri.
“These insurance provider decisions further validate the published data on the safety and efficacy of focused ultrasound and, more importantly, provide patients with an innovative, incisionless treatment option that provides immediate and significant improvement in tremor and quality of life,” said neurosurgeon Ali Rezai, associate dean and vice president of the West Virginia University Rockefeller Neuroscience Institute and a user of Exablate Neuro.
In January, Insightec closed a $150 million Series E private equity round of financing with plans to use funds to support marketing, commercialization and further development of its Exablate Neuro platform.