51.5 F
Laguna Hills
Thursday, Mar 28, 2024
-Advertisement-

Cameron Defibrillator Tabbed for 6.4% Medicare Hike

Implantable cardioverter defibrillators—including one developed in Orange County—could be in line for higher Medicare payments.

Implantable cardioverter defibrillators are used to prevent heart attacks.

The Centers for Medicare & Medicaid Services released its proposed inpatient prospective payment system for medical devices on April 26, after the market closed.

The agency is proposing a 6.4% increase for implantable cardioverter defibrillators for the 12 months starting Oct. 1. The devices have been tabbed for the highest increase among cardiovascular products.

Analysts with Boston-based Leerink Swann LLC called the proposed increase a “positive” for Boston Scientific Corp., which got the S-ICD defibrillator in an acquisition of San Clemente-based Cameron Health Inc. a year ago. Also expected to benefit from higher Medicare payments are two Minnesota-based medical device makers with Orange County operations—Medtronic Inc. and St. Jude Medical Inc.

The analysts’ report noted that Medicare would pay on average a base rate of $35,934.11 for implantable cardioverter defibrillator implants. Medicare currently pays an average of $33,759.22 for such implants.

Boston Scientific’s S-ICD is considered a breakthrough in its market because it doesn’t have lead wires that could fracture and cause other problems for patients.

Leerink also threw in a note of caution about the overall medical device market and pricing.

“While we view the low-to-mid-single-digit [year over year] reimbursement increases favorably, we expect MedTech companies overall to continue to face pricing pressure for the foreseeable future as providers look to squeeze device manufacturers in their quest to reduce costs,” analysts Danielle Antalffy, Richard Newitter and Robert Marcus wrote.

Regulators are expected to release their final Medicare payment proposal in August.

Absorption Gets Patent for Spray

Huntington Beach-based Absorption Pharmaceuticals Inc. has received a patent related to the use of its lead drug, the Promescent topical spray treatment for premature ejaculation.

Absorption said in a release that the patent protects its lidocaine-only formulation, “which enables maximum absorption of the anesthetic through the skin’s outer layer and provides men with improved ejaculatory control while maintaining great sensory feeling.”

Promescent’s active ingredient is lidocaine, a drug that’s used as a local anesthetic and found in various products. The lidocaine in Promescent is formulated in a way that it does not transfer to its user’s partner, according to a company fact sheet.

The company was founded by the late Dr. Ronald Gilbert, who served as chief of urology at Hoag Memorial Hospital Presbyterian in Newport Beach and also as an assistant clinical professor of urology at UCI School of Medicine.

Gilbert was shot and killed Jan. 28 at his Orange Coast Urology practice near Hoag. Newport Beach Police Department investigators arrested 75-year-old Stanwood Fred Elkus of Lake Elsinore at the scene. Elkus has pleaded not guilty to felony special circumstances murder by lying in wait, with a sentencing enhancement for the personal use of a firearm causing death.

Elkus could go to state prison for life without the possibility of parole if he is convicted of the charge.

Nuedexta Gets Closer in Europe

Avanir Pharmaceuticals Inc., an Aliso Viejo-based drug maker, said that the European Medicines Agency’s Committee for Medicinal Products for Human Use has given a positive opinion on its Nuedexta drug.

The committee recommended that Nuedexta, which is made up of dextromethorphan and quinidine, be approved for treating pseudobulbar affect, regardless of neurologic causes.

Pseudobulbar affect is a disorder that causes uncontrollable episodes of crying or laughing. It’s often found in connection with other neurological problems, such as traumatic brain injury, multiple sclerosis, amyotrophic lateral sclerosis, Parkinson’s disease, stroke and Alzheimer’s disease.

The European Commission, the European Union’s medicine approval body, generally follows the recommendation of the medicinal products committee and usually renders its final decision within three months of the committee’s opinion.

Nuedexta would be approved for sales in all of the European Union’s 27 member countries, as well as in Norway and Iceland if the European Commission clears it.

Bits and Pieces

Richard Afable, chief executive of Irvine-based Covenant Health Network, was among several speakers at an annual conference presented last week by California State University, Fullerton’s Center for Leadership. Several healthcare companies were among the center’s partners for the event, including Allergan Inc. and Edwards Lifesciences Corp., both of Irvine; Beckman Coulter Inc., a Brea-based unit of Danaher Corp. in Washington, D.C.; and St. Jude Medical Center in Fullerton. … CalOptima Regional Extension Center in Orange said it achieved a second milestone of assisting more than 1,000 area doctors going live on certified electronic health records.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-