AngioDynamics Comments on New Reimbursement Rate for Hospital-Based Varicose
ALBANY, N.Y., Dec. 10, 2013 (GLOBE NEWSWIRE) -- AngioDynamics (Nasdaq:ANGO), a
leading provider of innovative, minimally invasive medical devices for
vascular access, surgery, peripheral vascular disease and oncology, announced
the Centers for Medicare and Medicaid Services (CMS) has created a new
Ambulatory Payment Classification (APC) that includes both in-hospital
endovenous radiofrequency (RF) treatments and in-hospital endovenous laser
varicose vein ablation, such as the Company's VenaCure EVLT procedure.
The 2014 CMS fee schedule establishes new reimbursement rates for
hospital-based laser and RF treatment of varicose veins. In 2013, the
reimbursement for RF treatments and laser vein ablation averaged $3,025 and
$1,959, respectively. Beginning January 1, 2014, hospital-based RF and laser
procedures will be reimbursed under Ambulatory Payment Classification (APC)
0219 at an average rate of $2,139. The Company estimates 20% of all U.S.-based
thermal varicose vein ablations are performed in the hospital setting.
"We are pleased the new CMS APC increases payment for laser vein ablation by
9% while creating in-hospital reimbursement parity for thermal varicose vein
ablation procedures," said John Soto, Senior Vice President, Global Franchise,
Peripheral Vascular. "We believe the new APC will make it easier for
clinicians to focus on the best clinical care for their patients."
AngioDynamics Inc. is a leading provider of innovative, minimally invasive
medical devices used by professional healthcare providers for vascular access,
surgery, peripheral vascular disease and oncology. AngioDynamics' diverse
product lines include market-leading ablation systems, fluid management
systems, vascular access products, angiographic products and accessories,
angioplasty products, drainage products, thrombolytic products and venous
products. More information is available at www.AngioDynamics.com.
AngioDynamics, the AngioDynamics logo and VenaCure EVLT are trademarks and/or
registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary.
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements regarding
AngioDynamics' expected future financial position, results of operations, cash
flows, business strategy, budgets, projected costs, capital expenditures,
products, competitive positions, growth opportunities, plans and objectives of
management for future operations, as well as statements that include the words
such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes,"
"seeks," "estimates," "optimistic," or variations of such words and similar
expressions, are forward-looking statements. These forward looking statements
are not guarantees of future performance and are subject to risks and
uncertainties. Investors are cautioned that actual events or results may
differ from AngioDynamics' expectations. Factors that may affect the actual
results achieved by AngioDynamics include, without limitation, the ability of
AngioDynamics to develop its existing and new products, technological advances
and patents attained by competitors, future actions by the FDA or other
regulatory agencies, domestic and foreign health care reforms and government
regulations, results of pending or future clinical trials, overall economic
conditions, the results of on-going litigation, the effects of economic,
credit and capital market conditions, general market conditions, market
acceptance, foreign currency exchange rate fluctuations, the effects on
pricing from group purchasing organizations and competition, the ability of
AngioDynamics to integrate purchased businesses, including Navilyst Medical
and its products, R&D capabilities, infrastructure and employees as well as
the risk factors listed from time to time in AngioDynamics' SEC filings,
including but not limited to its Annual Report on Form 10-K for the year ended
May 31, 2013. AngioDynamics does not assume any obligation to publicly update
or revise any forward-looking statements for any reason.
CONTACT: Company Contact:
Mark Frost, CFO
(800) 772-6446 x1981
Investor Relations Contacts:
EVC Group, Inc.
Michael Polyviou/Robert Jones
(212) 850-6020; (646) 201-5447
EVC Group, Inc.
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