Second Sight Medical (NSDQ:EYES) said today it won reimbursement coverage from the Centers for Medicare & Medicaid Services for procedures using its Argus II retinal prosthesis system designed to restore some vision to blind patients.
The Argus II induces visual perception in blind patients with retinitis pigmentosa by stimulating of the retina’s remaining cells with electrical pulses, which allows for the perception of light patterns to the brain, the company said.
Sylmar, Calif.-based Second Sight Medical said that surgical procedures which include its Argus II will now receive $150,000 from CMS starting in 2017.
The company also announced that the American Medical Association’s current procedural terminology editorial panel approved 2 new Category III CPT codes for initial and susequent reprogramming of its Argus II.
The new codes will allow clinicians to report and bill custom, patient-tailored programming and reprogramming of the device. The codes are slated to be published on January 1, 2017, and can be reported beginning July 1.
“We are very pleased that we have had the support of the American Academy of Ophthalmology in achieving these important milestones in our reimbursement strategy. With the AMA CPT Editorial Panel’s approval of the two new CPT codes, the billing process is simplified. Our clinicians will be able to simply report one of these new codes to bill for custom programming and reprogramming the Argus II after implantation. In addition, with CMS’ announcement of the 2017 hospital outpatient payment rate, the hospitals will be more appropriately reimbursed for providing this important service to blind RP patients,” prez & CEO Will McGuire said in a press release.
Late last month, Second Sight touted that the 1st patient ever was implanted with its Orion 1 visual cortical prosthesis device designed to restore vision to blind patients.
The procedure was performed as part of a proof-of-concept trial at UCLA. The trial looks to show initial safety and feasibility for human visual cortex stimulation, Second Sight said.
The company said that the trial success, as well as additional pre-clinical work, has positioned the company to submit an FDA IDE application for the device in early 2017.