IRVINE, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Masimo , the inventor of Pulse CO-Oximetry(TM) and Measure-Through Motion and Low Perfusion pulse oximetry, announced today that noninvasive carboxyhemoglobin (SpCO(R)) and methemoglobin (SpMet(R)) will have CPT coding and pricing under the 2009 Medicare Clinical Laboratory Fee Schedule, effective January 1, 2009.(1)
The new CPT codes for SpCO (88740) and SpMet (88741) will allow healthcare providers to bill and receive up to $7.33 per day when testing eligible patients. Medicare will only allow a single payment per patient/per day for either SpCO or SpMet, regardless of how many tests are performed on that date. Medicare will not make payment for both SpCO and SpMet for the same patient on the same date of service.
About Masimo
Masimo develops innovative monitoring technologies that significantly improve patient care -- helping solve “unsolvable” problems. In 1995, the company debuted Measure-Through Motion and Low Perfusion pulse oximetry, known as Masimo SET, which virtually eliminated false alarms and increased pulse oximetry’s ability to detect life-threatening events. More than 100 independent and objective studies demonstrate Masimo SET provides the most reliable SpO2 and pulse rate measurements even under the most challenging clinical conditions, including patient motion and low peripheral perfusion. In 2005, Masimo introduced Masimo Rainbow SET Pulse CO-Oximetry, a breakthrough noninvasive blood constituent monitoring platform that can measure many blood constituents that previously required invasive procedures. Masimo Rainbow SET continuously and noninvasively measures total hemoglobin (SpHbTM), oxygen content (SpOCTM), carboxyhemoglobin (SpCO(R)), methemoglobin (SpMet(R)), and PVITM, in addition to oxyhemoglobin (SpO2), pulse rate (PR), and perfusion index (PI), allowing early detection and treatment of potentially life-threatening conditions. Founded in 1989, Masimo has the mission of “Improving Patient Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications.” Additional information about Masimo and its products may be found at http://www.masimo.com.
Forward-Looking Statements
This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our belief that the establishment of CPT codes for Masimo SpCO and SpMet will increase the application and broaden the use of Masimo Rainbow SET Pulse CO-Oximetry technology or serve to provide substantially increased revenues for the company, and risks related to our assumptions that SpCO and SpMet will deliver a sufficient level of clinical improvement over alternative measurement capabilities to allow for rapid adoption of the technology, as well as other factors discussed in the “Risk Factors” section of our Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2008, filed with the Securities and Exchange Commission (“SEC”) on October 29, 2008, which may be obtained for free at the SEC’s website at http://www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today’s date. We do not undertake any obligation to update, amend or clarify these forward-looking statements or the “Risk Factors” contained in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 27, 2008, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.
Masimo, SET, Signal Extraction Technology, Improving Outcomes and Reducing Cost of Care by Taking Noninvasive Monitoring to New Sites and Applications, Rainbow, SpHb, SpOC, SpCO, SpMet, PVI, Radical-7, Rad-87, Rad-57, Rad-9, Rad-8, Rad-5, Pulse CO-Oximetry and Pulse CO-Oximeter are trademarks or registered trademarks of Masimo Corporation. CPT is a registered trademark of the American Medical Association.
CONTACT: Dana Banks of Masimo Corporation, +1-949-297-7348
Web site: http://www.masimo.com/
