Date: April 1st, 2003
To: All Prospective Customers & Parastep I Clinical Centers
From: Sigmedics, Inc. Management
Re: Major National Coverage Determination Decision
CMS EXTENDS PARASTEP I SYSTEM COVERAGE
We are very pleased to announce that the Centers for Medicare and Medicaid Services (CMS), as well as certain other major insurance carriers, announced that as of April 1st., 2003 they will cover under their respective policy plans payment for the purchase of the Parastep I System and for the costs associated with undergoing the required physical therapy gait training and instruction in system use (approximately 32 sessions), for qualified beneficiaries and clients. Medicare shall cover approximately 80% of system acquisition costs.
The price for a 6-channel Parastep I System has remained the same since its 1994 U.S. Food and Drug Approval for commercial marketing, at $ 12,780 + shipping, handling and insurance.
Specific HCPCS codes have been assigned by CMS for billing both the PT services (Gait Training Code # 97116), as well as for the durable medical equipment (DME) (Code # E0764).
Further information about the national coverage insurance decisions may be found by visiting:
http://www.cms.hhs.gov/ncd/searchdisplay.asp?NCD_ID=175&NCD_vrsn_num=1 (please insert as a straight line) & http://www.aetna.com/cpb/data/CPBA0011.html
These recent exciting events obviously present a wonderful opportunity for hundreds of qualifying SCI individuals who otherwise may not have been financially able to access this technology, to now do so successfully.
With kind regards,
Frank E. Zeiss