Uroplasty (NSDQ:UPI) said it expects over 140 million people to receive percutaneous tibial nerve stimulation to treat overactive bladder using its Urgent PC device, thanks in part to coverage expansion from major insurers.
About 146 million people will be eligible for Medicare and private insurance reimbursement for PTNS, up from 124 million last year, according to a press release.
The Minnetonka, Minn.-based company further reported that health insurance giant Health Care Service Corp. extended its PTNS coverage, effective December 15th. The move extends coverage for HCSC Blue Cross Blue Shield of Illinois, Montana, New Mexico, Oklahoma and Texas patients for 4 years after treatment.
“Our sales organization is successfully executing our initiatives, and we continue to expect our fiscal third quarter year over year revenue growth rate for U.S. Urgent PC will be in the high teens," president & CEO Rob Kill said in prepared remarks. "With Uroplasty and other therapies currently penetrating less than one percent of the OAB market for patients who fail drug therapies, we believe there is more than ample opportunity to grow our business."
This is the 2nd recent reimbursement win for Urology, after health insurance giant Humana said it will initiate reimbursement for the Urgent PC. The coverage decision for Urgent PC is for up to 12 months of treatment.