Newsroom
Bausch & Lomb Announces
Medicare Reimbursement Terms for Retisert
FOR RELEASE THURSDAY, OCTOBER 6, 2005
Rochester, N.Y. - Bausch & Lomb announced today that the Centers for Medicare & Medicaid Services has designated the single-indication orphan drug Retisert (fluocinolone acetonide intravitreal implant), 0.59 mg, as eligible for Medicare pass-through payment under the Hospital Outpatient Prospective Payment System (OPPS) effective October 1.
The payment rate to hospitals billing for Retisert using HCPCS code C9225 is set at $19,345, as reported in the October 2005 update of OPPS Addendum A on the CMS website, http://www.cms.hhs.gov. The payment methodology is based upon 106 percent of wholesale acquisition cost (WAC). Coding and payment amounts for non-Medicare procedures vary by insurer.
Retisert was approved as a single-indication orphan drug by the U.S. Food and Drug Administration in April for the treatment of chronic noninfectious uveitis affecting the posterior segment of the eye, a sight-threatening inflammatory disease. Bausch & Lomb launched Retisert in the U.S. in June.
The most common adverse events - which are anticipated given the nature of the disease and the type of drug used - include cataract progression, which is managed by standard cataract surgery; increased intraocular pressure, which is managed with the use of IOP-lowering eye drops or filtering surgery; and procedural complications and eye pain.
Bausch & Lomb is the eye health company, dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, New York. Bausch & Lomb's 2004 revenues were $2.2 billion; it employs approximately 12,400 people worldwide and its products are available in more than 100 countries. More information about the Company can be found on the Bausch & Lomb Web site at www.bausch.com . Copyright Bausch & Lomb Incorporated.
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