The CEO of Canton-based Organogenesis says that a ruling last week from the Centers for Medicare and Medicaid Services on reimbursement rates for advanced wound treatment products will mean a radical change to the way his company does business, and will severely hurt innovation in the entire field. Late afternoon on the day before Thanksgiving, CMS issued its final ruling on reimbursement rates in proposed in July, raising the price at which it will reimburse hospitals for regenerative medicine products only slightly from the earlier proposal. The upshot, according to Geoff MacKay, CEO of Organogenesis, is that a cell-based product used to prevent amputations that his company now markets, called Apligraf, would be reimbursed by CMS at $1,371.
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