SAN JOSE, Calif., Jan. 5 /PRNewswire-FirstCall/ -- Laserscope , a pioneer in the development and commercialization of minimally-invasive medical devices, including medical lasers and advanced fiber-optic delivery devices, said today that the Centers for Medicare and Medicaid Services (CMS) published a technical revision to the 2006 Medicare physician fee schedule. Under the technical revision, the current procedural terminology code (CPT(r)) 52648 was assigned non-facility relative value units (RVU) for performing the Company’s Photoselective Vaporization of the Prostate (PVP) procedure for the treatment of Benign Prostatic Hyperplasia (BPH) in an appropriately equipped office setting. The reimbursement rate for the office-based procedure code was set at a national average of approximately $3,100 effective January 1, 2006. Previously, CPT(r) code 52648 only provided a reimbursement for PVP procedures performed in a hospital setting. For 2006 the reimbursement for PVP procedures performed in a hospital setting under CPT(r) code 52648 is approximately $600 to the physician and $2,500 to the hospital. For procedures done in a well-equipped office setting, the entire reimbursement is approximately $3,100.
“While the majority of PVP procedures are currently performed in the hospital outpatient setting, some physicians have been safely performing PVP in well-equipped offices. We are extremely pleased that our ongoing, cooperative effort with the AUA and CMS has resulted in physicians continuing to have the choice to determine the most suitable site of service in which to treat their patients,” said Eric Reuter, President and Chief Executive Officer of Laserscope. “Although Laserscope will not advocate one setting over another since this is the physician’s choice, we have long maintained that PVP is clinically the most efficacious procedure for treating BPH given its durability, clinical outcomes, and safety profile. The technical correction will ensure that Medicare beneficiaries suffering from BPH will have access to PVP in all sites of service.”
CPT(r) is a registered trademark of the American Medical Association.
About Laserscope
Laserscope designs, manufactures, sells and services on a worldwide basis an advanced line of minimally-invasive medical products including medical laser systems and related energy delivery devices for the office, outpatient surgical center, and hospital markets. More information about Laserscope can be found on the Company’s web site at www.laserscope.com.
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by this section. These forward-looking statements include statements about an increase in PVP procedures performed in an office setting and an increase in the number of patients receiving PVP treatment. These statements are subject to a number of risks and uncertainties, including among others: uncertainties regarding introduction of new technologies competitive to Laserscope’s products and the degree to which the Company’s current and new products are accepted by customers, which could affect the level of demand for our products; uncertainties regarding our ability to compete with companies that have significantly greater financial, technical, research and development, manufacturing and marketing resources than we have; and uncertainties that new products will receive regulatory approval in applicable jurisdictions.
Actual results may differ materially due to these and other factors. The matters discussed in this press release also involve risks and uncertainties described from time to time in Laserscope’s filings with the Securities and Exchange Commission. In particular, see the Risk Factors described in Laserscope’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Copies of Laserscope’s public disclosure filings with the SEC, including the most recent Annual Report on Form 10-K and the most recent forms 10-Q are available upon request from its Investor Relations Department at its website at www.laserscope.com and at the SEC’s website: www.sec.gov. Laserscope assumes no obligation to update the forward-looking information contained in this press release.
At Laserscope: At Financial Relations Board: Eric Reuter, President & CEO Tricia Ross, Investor/Analyst Contact Derek Bertocci, CFO (617) 520-7064 (408) 943-0636 Laurie Berman, General Inquiries (310) 854-8315
Laserscope
CONTACT: Eric Reuter, President & CEO, or Derek Bertocci, CFO, both ofLaserscope, +1-408-943-0636; or Investors/Analysts, Tricia Ross,+1-617-520-7064, or General Inquiries, Laurie Berman, +1-310-854-8315, bothof Financial Relations Board, for Laserscope
Web site: http://www.laserscope.com/
