Ocriplasmin receives J-Code

December 11, 2013

The Center for Medicare and Medicaid Services (CMS) has published the permanent Health-Care Common Procedure Coding System (HCPCS) code for ThromboGenics’ ocriplasmin (Jetrea), J7316.

 

Leuven, Belgium-The Center for Medicare and Medicaid Services (CMS) has published the permanent Health-Care Common Procedure Coding System (HCPCS) code for ThromboGenics’ ocriplasmin (Jetrea), J7316.

The permanent J-Code for the drug will become effective Jan. 1.

The absence of a HCPCS code for ocriplasmin has forced U.S. physicians to submit the drug’s claims manually to payers following usage, which has led to delays in reimbursement and certain inefficiencies in the use of financial working capital at the retina practice management level.

Recent market research conducted by ThromboGenics has shown that the lack of a permanent J-Code has been having an adverse impact on the uptake of ocriplasmin.

The permanent J-Code will streamline the reimbursement process for retina practices, while increasing reimbursement confidence.

“We are extremely pleased that the CMS has granted a permanent J-Code for (ocriplasmin),” said Patrik De Haes, MD, chief executive officer of ThromboGenics. “We are confident that the automation of the reimbursement process will be an important facilitator in this novel product’s uptake as U.S. physicians will now be reimbursed for (the drug) in a timelier and more efficient manner.”

Additionally, ThromboGenics’ founder, Désiré Collen, MD, PhD, has decided to retire as chairman and board member of the company.

“As the founder and a key member of the ThromboGenics team for more than 20 years, I’ve decided it is time for me to take a step back and to stand down from my current role,” Dr. Collen said. “I believe that this is an appropriate time to hand over to my successor.

During his tenure as chief executive officer of the company, which he founded in 1991, ThromboGenics has started its research on ocriplasmin and advanced it through its early clinical development for the treatment of symptomatic vitreomacular adheasion/vitremacular traction.

The company has appointed Staf Van Reet, PhD, currently on ThromboGenics’ board of directors, as its new chairman.

“Désiré has made a huge contribution to the growth of ThromboGenics and the successful development of (ocriplasmin),” Dr. Van Reet said. “On behalf of the entire ThromboGenics team, I am extremely grateful for his dedication and commitment to the company, . . . I look forward to continuing his record.”

 

For more articles in this issue of Ophthalmology Times eReport, click here.

 

To receive weekly clinical news and updates in ophthalmology, subscribe to the Ophthalmology Times eReport.