(OTCQB:QBIO) FDA Approved Strontium89 Now Reimbursed In Hospital And Outpatient Settings For Metastatic Bone Pain Treatment
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Summary
- FDA Approved.
- In Hospital & Outpatient Reimbursement.
- Non-Opioid - Metastatic Bone Pain Drug.
Strontium89 Now Reimbursed in All Treatment Settings
NEW YORK, Jan. 7, 2021 /PRNewswire/ -- Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotech company, announced today that the Centers for Medicare and Medicaid Services (CMS) updated the Outpatient Prospective Payment System (OPPS) reimbursement rate for its FDA approved non-opioid metastatic bone pain drug Strontium89 (Strontium Chloride Sr-89 Injection, USP) on January 3, 2021. The update ensures all Medicare patients have access to Strontium89 in the appropriate setting.
The Q1 2021 Strontium89 reimbursement update was expected by Q BioMed as part of the standard CMS quarterly OPPS update, and is an important milestone. While Strontium89 has been appropriately reimbursed in the free standing clinic setting since launch, it was under-reimbursed in the hospital outpatient setting where many patients receive treatment. With the CMS update, all Medicare providers are now able to be reimbursed appropriately for providing Strontium89 treatment.
In the Strontium89 pivotal trial, as many as 79% of patients had pain relief with Strontium89, and twice as many patients treated with Strontium89 had no pain for 3 months compared with placebo. Further, new pain sites were less frequent in patients treated with Strontium891,2. Strontium89 is administered once every 3 months via injection, and patients can be re-treated if needed. Please see Important Safety Information below.
"Q BioMed is energized by this important reimbursement milestone as part of the ongoing Strontium89 launch. We are now able to meet the needs of patients being treated across different care settings and ensure all qualified patients have the ability to choose treatment with Strontium89. We are confident that this will enable us to engage with hospitals and providers throughout the US and we'll see increasing use of Strontium89," stated Q BioMed CEO Denis Corin.
Learn more at Strontium89
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