ST. LOUIS, MO--(Marketwire - March 11, 2013) - Mobius Therapeutics™, LLC, a St. Louis-based ophthalmic company, has received notice from the Center for Medicare Services (CMS) of an Outpatient Prospective Payment System (OPPS) Payment Indicator "K2" for the code J7315 reimbursing Mitosol® (mitomycin for solution) Kit for Ophthalmic Use. This payment indicator allows payment for entities billing under OPPS, including Ambulatory Surgical Centers (ASCs) and hospitals.
"This is a substantial milestone and confirms the inherent value represented by Mitosol®," said Ed Timm, President of Mobius Therapeutics. "In light of the ongoing concerns related to the sterility and quality assurance of compounded medications, this will give providers and patients peace of mind, knowing that the precision, safety, and convenience of Mitosol® is also the wise economic choice."
J-codes are part of the Health Common Procedure Coding System (HCPCS) and are used by providers to identify drugs and facilitate their reimbursement. These codes are acknowledged by Medicare and most private insurance carriers.
"This further validates the inherent value of FDA approved formulations versus compounded medications," continued Timm. "In the end, everyone wins: the patient, the provider, and the American healthcare system."
About Mobius Therapeutics, LLC:
Mobius Therapeutics is a commercial stage venture focused on ophthalmic surgery solutions. Its first product, Mitosol®, is a system for delivering antifibrotic agents in glaucoma, refractive, and corneal surgery. The glaucoma indication is in active commercialization; the pterygium and refractive indications are awaiting approval by the Food and Drug Administration. Mobius is housed within the Center for Emerging Technologies in St. Louis, Missouri.