BEDFORD, Mass.--(BUSINESS WIRE)--Augmenix, Inc. is pleased to announce that the company’s leading product, SpaceOAR hydrogel, is now available to millions of American men covered under Medicare, Medicaid, and Aetna, Inc.
SpaceOAR hydrogel, which is used to reduce common side effects that men experience after receiving prostate cancer radiotherapy, is now reimbursed by six out of seven Medicare Administrative Contractors (MACs), numerous Medicaid state programs, and, most recently, Aetna, Inc., which is the third largest commercial health insurance carrier in the United States.
“The coverage provided by a growing number of public and private insurance carriers is an acknowledgement of the significant clinical value of SpaceOAR hydrogel for their beneficiaries,” said Michael Mydra, Vice President of Global Market Access and Reimbursement at Augmenix, Inc.
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“We are pleased by the continued growth in insurance carrier coverage for the SpaceOAR procedure within a few months of the Category I CPT® Code (55874) becoming effective in January of this year,” said John Pedersen, President and CEO of Augmenix. “We will continue to work with the remaining Medicare Administrative Contractors and private payers to further expand access to our innovative technology.”
About SpaceOAR Hydrogel
Radiation therapy in the treatment of prostate cancer can cause unintended radiation injury to adjacent healthy tissue (Organs At Risk). This injury can lead to a range of bowel, urinary, and sexual symptoms that can negatively affect patient health and quality of life during radiotherapy, and for years afterwards.
SpaceOAR hydrogel reduces the radiation dose delivered to the anterior rectum and reduces the risk of injury. In a clinical study, SpaceOAR hydrogel demonstrated a 99% procedural success rate, a 73.5% reduction in radiation dose to the rectum, and significantly less quality of life impact at 3 years. (1) Injected as a liquid into the space between the prostate and rectum, SpaceOAR hydrogel gently pushes the structures apart and then solidifies into a soft hydrogel, which maintains space for approximately three months during radiation therapy then liquefies and is completely absorbed by the body.
SpaceOAR Hydrogel, is cleared by the U.S. Food and Drug Administration (FDA) and is currently being used in many leading cancer centers throughout the United States. It has also received CE Mark approval in Europe, is approved in Australia and Japan, and is licensed in Canada. To date, over 20,000 patients worldwide have benefited from the SpaceOAR hydrogel procedure.
