PROCEPT BioRobotics Corporation Announces Additional Positive Coverage Policies Regarding Aquablation Therapy for Men with Enlarged Prostates
Excerpt from the Press Release:
REDWOOD CITY, Calif., June 09, 2022 (GLOBE NEWSWIRE) — PROCEPT® BioRobotics Corporation (Nasdaq: PRCT), a surgical robotics company focused on advancing patient care by developing transformative solutions in urology, today announced that five new regional private insurance plans have issued positive coverage policies of Aquablation therapy for the surgical treatment of benign prostatic hyperplasia (BPH). Three Blue Cross Blue Shield (“BCBS”) Association healthcare plans are included in the recent coverage additions along with Medical Mutual and Presbyterian Healthcare Services. In the aggregate, the five positive policies will provide coverage for approximately 8.5 million members.
The coverage policies issued are detailed below:
- Highmark, Inc., the sixth largest BCBS plan, covers approximately 4.5 million members across Pennsylvania, New York, West Virginia, and Delaware and took effect on May 2, 2022
- BCBS of Minnesota, the largest private payer in Minnesota, covers approximately 2.1 million members and took effect on May 2, 2022
- BCBS of North Dakota, the largest private payer in North Dakota, covers approximately 285,000 members and took effect on May 2, 2022
- Medical Mutual covers approximately 1.1 million members in the state of Ohio and took effect on March 24, 2022
- Presbyterian Healthcare Services, the second largest payer in New Mexico, covers approximately 500,000 members and took effect on March 23, 2022
These coverage policies are in addition to the positive coverage policies issued by Aetna and Independence BCBS in April 2022.
“These positive coverage decisions, driven by the strong body of clinical support, demonstrate the continued acceptance of Aquablation therapy,” said Reza Zadno, President and CEO. “We are pleased that an approximate 8.5 million additional covered lives will now have access to Aquablation therapy, a treatment that allows patients to prioritize both safety and efficacy.”
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