Therma Bright's Venowave VW5 Secures Medicare Reimbursement Status Through HCPCS Code
TL;DR
Therma Bright Inc. secured a $1.43 million purchase order for 1,750 Venowave VW5 units, solidifying its position in the US compression market.
Venowave VW5 received a permanent Healthcare Common Procedure Coding System (HCPCS) code E0683 for treating circulation issues in lower extremities, marking a critical milestone for Therma Bright Inc.
Therma Bright's Venowave VW5 provides a comfortable mobile treatment solution for patients, accelerating recovery periods and managing pain, contributing to better healthcare outcomes.
Therma Bright's Venowave VW5 is the only Medicare-approved, reimbursable, mobile mechanical compression system under HCPCS code E0683 in the US, offering innovative healthcare solutions.
Found this article helpful?
Share it with your network and spread the knowledge!
Therma Bright Inc. has achieved a significant milestone in the compression therapy market with its Venowave VW5 device receiving a permanent Healthcare Common Procedure Coding System code from the U.S. Centers for Medicare and Medicaid Services. This designation makes the Venowave VW5 the only Medicare-approved, reimbursable mobile mechanical compression system available in the United States, providing patients with a lightweight and compact medical compression pump for managing post-operative recovery, pain, and swelling issues.
The company's strategic distribution partnerships have strengthened its market position significantly. DME Authority, a national medical device distributor, has committed to a substantial inventory purchase including an initial order of 1,750 Venowave VW5 units, representing potential HCPCS code reimbursements of approximately $1.43 million. Another national distributor, Valor Medical, has placed an initial order for 100 units with potential for regular future purchases, further expanding the device's market reach.
The global compression therapy market presents substantial growth opportunities for Therma Bright. According to Straits Research, the market was valued at $4.18 billion in 2024 and is projected to reach $6.72 billion by 2033, representing a compound annual growth rate of 7.30%. This growth trajectory aligns with the company's expansion strategy and product development initiatives.
Beyond the Venowave VW5, Therma Bright is developing additional innovative medical technologies including its acoustic AI Digital Cough Technology. The company is pursuing FDA classification for this remote therapeutic monitoring solution designed to help healthcare providers and epidemiologists collect and analyze respiratory data. These developments position Therma Bright as an emerging player in the medical device technology sector with potential for continued expansion in both compression therapy and remote monitoring solutions.
Curated from News Direct
