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MiMedx Announces Its Support Of New CMS Packaging Payment Policy For Skin Substitutes
Date:11/29/2013

174; are 40 to 60 percent higher than the healing rates of our competitors' products.  Our strong clinical results and cost effective approach have enabled MiMedx to quickly gain market share. We believe the new reimbursement changes will enable us to continue that progress," added Bill Taylor, President and COO.

In the new system, CMS is dividing the skin substitutes into two groups for packaging purposes: high cost skin substitutes and low cost skin substitutes. Skin substitutes with an ASP amount above the weighted average of $32 per sq. cm. are classified in the high cost group and those at or below the weighted average per sq. cm. are classified in the low cost group.  The 2014 packaged rate for the low cost skin substitutes applied to DFUs and VLUs smaller than 100 sq. cm. is $409.41, and for the high cost skin substitutes is $1371.19.  As noted above, EpiFix® continues pass-through status for 2014, and it will be reimbursed on an ASP + 6% method.  It is worth noting that if EpiFix® were bundled in 2014, it would fall into the high cost packaged rate.

Taylor continued, "The size-appropriateness of our grafts, higher healing rates and fewer required applications to achieve wound closure have already enabled us to gain market share quickly. The DFU market for products such as EpiFix® is in excess of $2 billion annually.  Knowing that the VLU prevalence rate is nearly as high as the DFU rate, only with slightly larger wounds, we estimate the combined total DFU and VLU market for our EpiFix® products to be in excess of $4 billion annually.  To achieve our revenue guidance for 2014, we only need to capture 2.5% of that total possible DFU and VLU market, and that is excluding revenue from our other product lines."  

About MiMedx
MiMedx® is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and b
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SOURCE MiMedx Group, Inc.
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