NanoVibronix (NSDQ:NAOV) announced today that it won a unique reimbursement code from the Centers for Medicare and Medicaid for its PainShield surface acoustic wave portable ultrasonic therapeutic device.
The Elmsford, N.Y.–based company develops medical devices based around its low-intensity SAW technology that allows the creation of low-frequency ultrasound waves that can be used in multiple medical applications, including disrupting biofilms and bacteria colonization, along with offering pain relief.
PainShield is a wearable, battery-powered electronic unit with an actuator applied on the skin at the location of pain. It is designed to deliver localized energy to provide a therapeutic effect in relieving pain and inducing soft tissue healing. PainShield can be administered at home and without assistance from a medical professional.
In a 59-patient double blinded, crossover trial, results indicated that patients treated with the PainShield saw a 55.2% improvement from their baseline Visual Analog Scale pain scores after treatment, compared to only a 2.3% increase for patients in the control group. Patients treated with the PainShield also saw a 46.4% reduction in breakthrough pain medication, versus only 1.5% in the control group.
“Establishment of a unique reimbursement code from CMS further validates the value of our PainShield device and is an important milestone in our reimbursement strategy to increase access to the product,” NanoVibronix CEO Brian Murphy said in a news release. “The technology-specific code allows us to differentiate PainShield from other products for pain management, regardless of scientific studies, proven efficacy or patient outcomes, and it substantially increases our ability to obtain payment with worker’s compensation and private insurance providers for its use. … We continue to believe PainShield can play a critical role in opioid-free pain management given its unique features and the additional benefits it provides as patients and providers continue to search for effective alternatives to pharmaceuticals for pain management.”
