![]() The Company expects NICE to issue a consultation document in the coming months that will be eligible for public comment. In the United Kingdom, the Company recently participated in the National Institute for Health and Care Excellence (“NICE”) Interventional Procedures Advisory Committee (“IPAC”) meeting and anticipates continuing discussions with NICE as they develop guidance for Reducer therapy in the U.K. The Company has previously disclosed that it intends to conduct an Investigational Device Exemption (“IDE”) study on the Reducer in order to obtain FDA approval for the Reducer. The Reducer is recognized as a Breakthrough Device by FDA. Food and Drug Administration (“FDA”) upon FDA approval. MCIT, if enacted in its current form, will provide a pathway for incremental reimbursement for technologies designated as “Breakthrough Medical Devices” by the U.S. Neovasc supports the Medicare Coverage of Innovative Technologies (“MCIT”) executive order that is currently under review in the United States by the Centers for Medicare and Medicaid Services (“CMS”). Expanding the number of countries with adequate reimbursement for Reducer will be beneficial towards our value creation strategy aimed at driving physician adoption and revenue growth,” stated Fred Colen, President and Chief Executive Officer at Neovasc. “While obtaining reimbursement in any market is not guaranteed, we believe it is prudent to provide an update on the Company’s progress in select markets. ![]() As each market has its own reimbursement dynamics, a broad-based reimbursement approach is necessary to support long-term growth potential of therapies, including Reducer. In many markets around the world, access to reimbursement is a critical step towards driving market adoption. (“Neovasc” or the “Company”) ( NASDAQ, TSX: NVCN) today announced progress towards its value creation strategy of expanding global reimbursement for the Neovasc Reducer™ (“Reducer”).Įxpanding reimbursement for the Reducer is a key component of Neovasc’s strategy to create shareholder value. VANCOUVER and MINNEAPOLIS, Ap(GLOBE NEWSWIRE) - via NewMediaWire - Neovasc Inc.
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