Market Overview

Physician Payment Rates for TandemHeart Announced

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PITTSBURGH--(BUSINESS WIRE)--

Category I Current Procedure Terminology (CPT) codes for insertion, repositioning and removal of the TandemHeart circulatory support system have been approved and assigned Relative Value Units (RVUs) by the Centers for Medicare and Medicaid Services (CMS). These three newly-established CPT codes, which are used to code procedures for physician payment, will go into effect on January 1, 2013.

CPT Code     Description     Total RVUs     2012 Conv. Factor     Est. Payment
33991 Insertion 18.83 $34.04 $640.97
33992 Removal 6.15 $34.04 $209.35
33993 Repositioning 5.40 $34.04 $183.82
TOTAL 30.38 $34.04 $1,034.14
 

“We are excited to announce the establishment of new Category I CPT codes for percutaneous circulatory support in 2013, along with payment rates which reflect the advanced skill level of the physicians who perform TandemHeart procedures,” said John Marous, President and CEO of CardiacAssist. “We greatly appreciate the support of the physician societies throughout this process. Their assistance will help ensure that physicians are appropriately reimbursed for their exceptional efforts to improve the quality of care for heart failure patients.”

The physician payment rates above are calculated based on the Final Rule 2013 RVUs for each of the new CPT codes and the 2012 Conversion Factor. The Sustainable Growth Rate (SGR) formula has proposed a lower conversion factor of 25.0008 for 2013. However, these reductions have been consistently averted through legislation over the past decade, and CardiacAssist anticipates that the rate will be adjusted again in 2013.

CPT® is a registered trademark of the American Medical Association, which develops and maintains CPT codes.

About TandemHeart

The FDA-cleared TandemHeart system has been used by physicians to provide critical heart support to over 3,000 patients at more than 200 of the top cardiac centers in the United States. The system's unique left atrial cannulation creates an extracorporeal blood circuit to bypass the left ventricle with a percutaneous procedure, augmenting the flow of blood by up to 5.0 L/min. The TandemHeart system is the world's first FDA-cleared and CE-marked short-term extracorporeal circulatory support system for both cardiologists and cardiac surgeons.

About CardiacAssist

Headquartered in Pittsburgh, PA, privately-held CardiacAssist is a growing medical technology company that develops, manufactures and markets cardiac assist devices.

CardiacAssist
Travis Deschamps, Director of Marketing, 412-963-7770
tdeschamps@tandemheart.com

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