Our experience to date with insurers has been very positive. Answers to questions regarding eligibility, coverage and reimbursement are dependent on the language and scope of the individual insurance policy. Insurers traditionally base their reimbursement decisions on various factors, thus each case is usually judged on its own merits. We are very pleased to announce that (effective April 1st., 2003) the Centers for Medicare and Medicaid Services (CMS) made a National Coverage Determination extending coverage to the Parastep I™ System for qualifying Medicare beneficiaries. Specific HCPCS codes have been assigned to cover costs associated with both the physical therapy training services (Code 97116) as well as for the acquisition of the Parastep I™ equipment (Code E0764). Please note that Medicare covers approximately 80% of equipment acquisition costs. Following the CMS example, other major insurers have either already amended (e.g. Aetna Insurance Company) their policies to cover our technology or are in the process of reviewing the same, hopefully reaching a similar decision. Sigmedics, Inc. has set up its own Patient Case Management Department precisely for the purpose of facilitating insurance reimbursement efforts by undertaking the preparation, collection, verification and submission of all pertinent documentation to insurers. These efforts are closely coordinated with clinicians and Parastep I™ Program participants.
