Inspire Medical Systems said yesterday that it won a positive coverage policy for its Inspire therapy, intended to treat obstructive sleep apnea, from insurer Blue Cross of Idaho.
The Minneapolis-based company’s Inspire system is a closed-loop, pacemaker-like system designed to stimulate nerves to keep airways open during sleep to treat obstructive sleep apnea.
The coverage policy issuance comes shortly after the Blue Cross Blue Shield Association’s Evidence Street issued a positive assessment of Inspire therapy to its members.
The new reimbursement win will make the therapy available to Blue Cross of Idaho’s approximately 500,000 members, and is set to take effect on March 20, Inspire Medical Systems said.
“Following the Evidence Street summary this past week, we are very pleased to have the positive coverage decision from Blue Cross of Idaho in such a short time period. We will continue to work with physicians and treatment centers to develop additional positive coverage policies with the regional BCBS systems. We also plan to build on our already strong body of clinical data supporting Inspire therapy, and believe this clinical and real-world data will further result in coverage decisions by other major health plans and further adoption of Inspire therapy,” prez & CEO Tim Herbert said in a press release.
The company added that in addition to the newly received decision, a previously announced positive coverage policy from Ascension Smart Health covering Inspire therapy became effective January 1.
In late December, Inspire Medical Systems said that it closed a $75 million offering, which included a fully exercised underwriter’s option.