Apr 5 2011
Uroplasty, Inc. (NASDAQ: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, today announced that two private insurance payers have elected to cover posterior tibial nerve stimulation (PTNS) using its Urgent PC Neuromodulation System for the treatment of overactive bladder (OAB) and associated symptoms. Effective April 1, 2011, UnitedHealthcare, a nationwide private insurer, and, effective March 17, 2011, Excellus BlueCross BlueShield (BCBS), a regional insurer in upstate New York, initiated coverage of PTNS.
UnitedHealthcare is the largest single health insurer in the United States covering approximately 33 million lives nationwide. UnitedHealthcare affiliates include AmeriChoice, Great Lakes Health Plan, Health Net of CT, Oxford Health Plans, PacifiCare, Sierra Health and Life, among many others. Excellus BCBS provides health insurance to approximately 1.6 million individuals across upstate New York.
Uroplasty also announced that CIGNA Government Services, the new Medicare carrier for Kentucky effective May 1, 2011, will cover PTNS treatments effective that date. This adds approximately 750,000 lives to the approximately 1.7 million CIGNA covers in Idaho and North Carolina. The addition of Kentucky extends PTNS coverage to approximately 30 million Medicare beneficiaries in 30 states.
"The expansion of PTNS coverage by these leading health insurance providers represents significant progress for our Company," said David Kaysen, President and CEO of Uroplasty, Inc. "We believe this expanded coverage reflects the strong clinical data that support the efficacy and safety of Urgent PC for the treatment of OAB and associated symptoms. Along with key opinion leaders from the urology field, we continue to meet with other insurers to present the benefits of Urgent PC and anticipate that adoption and coverage of PTNS will continue to grow."
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