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  • Competitive Technologies, Inc. (CTTC) Announces New CPT Code for Scrambler Therapy 0 comments
    Jul 5, 2011 10:31 AM | about stocks: CTTC
    Last Friday, Competitive Technologies, Inc. announced that the American Medical Association’s Editorial Panel for Current Procedural Terminology (NYSE:CPT) established a new Category III CPT® code to report procedures, such as treatment of chemotherapy-induced peripheral neuropathy (CIPN), involving the Company’s Calmare® pain therapy medical device, which features Scrambler Therapy™ technology.

    The new CPT code is 0278T Transcutaneous electrical modulation pain reprocessing (e.g., scrambler therapy), each treatment session (includes placement of electrodes).

    The Calmare device has successfully treated CIPN and other neuropathic cancer pain in thousands of patients. It has done so without any of the adverse side effects normally associated with the powerful opioid pain medications frequently used to treat pain in cancer patients. Calmare treatments have been particularly effective in treating CIPN, which is often resistant to drug therapies.

    According to Jerry Stringham, President of Medical Technology Partners (NYSE:MTP) of Rockville, Maryland, “The existence of this unique code will simplify the process of submitting and adjudicating insurance reimbursement claims for physicians and their patients. Category III codes are reserved for new and emerging technologies, such as Competitive Technologies’ Scrambler Therapy with the Calmare medical device, and are intended to simplify the collection of data regarding the use of new services and procedures. We look forward to working with CTTC, its customers and insurers to make this therapy available and affordable for those suffering from cancer pain, including CIPN.”

    Aris Despo, Executive Vice President of Competitive Technologies, Inc., stated, “This is a great day for cancer patients with pain and for CTTC. We have worked with MTP for nearly two years to comply with the CTP requirements to execute a reimbursement plan for Scrambler Therapy. Gaining universal coverage for Scrambler Therapy to treat CIPN patients is an absolute priority of our company. We continue to support the performance and publication of clinical studies that not only demonstrate Scrambler Therapy’s efficacy but also its cost effectiveness and efficiency in treating patients with chronic neuropathic pain, which we believe will lead to an expanding acceptance by the medical community for this much needed procedure.”

    Headquartered in Fairfield, Connecticut, Competitive Technologies, Inc. is a worldwide leader in developing and commercializing innovative products and technologies. Multifaceted, the Company provides distribution, patent and technology transfer, sales and licensing services. Their staff focuses on the needs of customers and matching those requirements with commercially viable products or technology solutions.

    Competitive Technologies, Inc. is the licensed global distributor of the non-invasive Calmare® pain therapy medical device. This device incorporates the biophysical “Scrambler Therapy™” technology developed in Italy by the Company’s client, Professor Giuseppe Marineo to treat neuropathic pain, including cancer pain. Competitive Technologies, Inc.’s partner, GEOMC Co., Ltd. of Seoul, Korea, is currently manufacturing The Calmare® device for sale.

    For more information visit: competitivetech.net

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net
     
    Stocks: CTTC
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