Sight Sciences Announces Withdrawal Of Final LCDs On Micro-Invasive Glaucoma Surgery From Five Medicare Administrative Contractors That Were Scheduled To Take Effect On January 29, 2024.
Portfolio Pulse from Benzinga Newsdesk
Sight Sciences, Inc. (NASDAQ:SGHT) has announced that five Medicare Administrative Contractors (MACs) have withdrawn their final local coverage determinations (LCDs) for Micro-Invasive Glaucoma Surgery (MIGS) that were set to take effect on January 29, 2024. This decision means that there will be no change to the current Medicare coverage for MIGS procedures performed with Sight Sciences' OMNI Surgical System. The company's CEO, Paul Badawi, expressed appreciation for the collaborative efforts of various stakeholders in the review process and looks forward to continued engagement to ensure access to MIGS procedures.
December 28, 2023 | 2:16 pm
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POSITIVE IMPACT
The withdrawal of the LCDs by MACs is positive for Sight Sciences, as it ensures continued Medicare coverage for MIGS procedures using their OMNI Surgical System beyond January 2024.
The withdrawal of the LCDs directly impacts Sight Sciences' product, the OMNI Surgical System, by maintaining its Medicare coverage. This is likely to be viewed positively by investors as it removes the uncertainty regarding future reimbursement for procedures using OMNI, which could have negatively affected the company's revenue and growth prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100