Milestone Scientific CEO Provides Letter To Shareholders; Provides Reimbursement Update For CompuFlo By Commercial Payors And Medicare
Portfolio Pulse from Benzinga Newsdesk
Milestone Scientific Inc. (NYSE:MLSS) CEO Arjan Haverhals provided a shareholder letter updating on the commercialization and reimbursement status of CompuFlo technology. The company has received FDA clearance for expanded use, established advisory sites across the US, and reported a 100% success rate in patient procedures with zero dural punctures. Claims submitted using the new CPT code 0777T have been accepted by payor systems, with one-third receiving positive reimbursement, mostly from commercial payors and Medicare. The company plans to increase the number of CompuFlo providers and continue engaging with payors for consistent coverage.
January 16, 2024 | 1:42 pm
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Milestone Scientific has made significant progress with its CompuFlo technology, receiving FDA clearance for expanded use and achieving a 100% success rate in procedures. One-third of claims have received positive reimbursement, indicating growing acceptance and potential revenue growth.
The positive update from the CEO regarding FDA clearance, successful clinical use, and initial reimbursements for CompuFlo suggests increased market adoption and potential revenue growth, which is likely to be viewed positively by investors and could lead to a short-term increase in MLSS stock price.
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IMPORTANCE 90
RELEVANCE 100