BLUE CROSS BLUE SHIELD HAVE APPROVED ADDITIONAL POSITIVE COVERAGE FOR EXABLATE
INSIGHTEC announced today that Blue Cross Blue Shield of Massachusetts, Blue Cross Blue Shield of Mississippi, Wellmark Blue Cross Blue Shield, Blue Cross of Idaho and Blue Cross Blue Shield of Arizona have published an updated coverage policy regarding INSIGHTEC's Exablate MRgFUS (Magnetic Resonance Imaging-guided Focused Ultrasound) procedure which provides benefits for bone metastases patients. The Exablate treatment is FDA-approved for patients suffering from pain associated with bone metastases. (For the full FDA clearance please refer to FDA website.) This recent decision will allow an additional coverage for over 6.2 million members.
These positive coverage decisions in favor of MRgFUS treatments for painful bone metastases are followed by an earlier, affirmative change in policy made by BCBS NJ, BCBS North Carolina and Health Care Service Corporation - the second largest Blue Cross and Blue Shield commercial insurer in the United States. With this recent approval, the total number of covered lives is now ~32 million members.
"Decisions from leading insurers to cover INSIGHTEC's treatment are a welcome recognition of the demonstrated clinical benefits for INSIGHTEC's completely non-invasive treatment for patients suffering from pain related to their bone metastases," said Kobi Vortman, PhD, CEO of INSIGHTEC. "By formalizing a favorable coverage policy, BCBS Mississippi, Wellmark BCBS, BC Idaho, BCBS Arizona, and BCBS Massachusetts are providing a viable treatment option for many more patients and physicians," he emphasized.
"We are very happy that our work has yielded more favorable decisions which will enable patients to benefit from a non-invasive treatment that quickly reduces pain, allows return to normal activities within days and is available in leading medical centers across the U.S.," said Dee Kolanek, VP of Reimbursement at INSIGHTEC. "We are continuously conducting independent, post-market studies in efforts to build support for additional coverage by insurers," she added.
INSIGHTEC is the global leader in MRgFUS. The Company, founded in 1999, develops and distributes a non-invasive therapy platform that is transforming medicine. INSIGHTEC is continuously expanding its applications ranging from functional neurosurgery to oncology and gynecology. MRgFUS is embraced by world-renowned physicians in more than 120 medical facilities who applaud both its clinical and economic value. The Company has received numerous innovation awards, among others from the Wall Street Journal and TIME magazine. INSIGHTEC is privately held by GE Healthcare, Elbit Imaging, York Capital Management, GEOC Hengtong Investment Limited Partnership and MediTech Advisors.