• 27 Aug 2024
• Admin
• News Article

Therma Bright secures nationwide US distribution partner for Venowave

Overview
Therma Bright Inc., a developer and investment partner in a wide range of leading-edge, proprietary diagnostic and medical device technologies, announced the addition of a new Nationwide US Durable Medical Equipment (DME) distribution partner that has launched an initial Venowave sales programme to gauge Medicare/Medicaid reimbursement timelines and billing procedures. Post initial programme success, distributor commits to acquire remaining inventory that totals up to US$ 2.38 million in reimbursement value. The new partner's name will be disclosed in future upcoming releases, following initial programme success.

Current and Future Orders

• With strong distribution network interest, Therma Bright expects its current inventory of 2,000 units-representing up to US$ 2.38 million in reimbursement value-to be quickly sold with strong demand for additional orders. 
• The device, effective for ten (10) circulatory indications, offers up to US$ 1,199 reimbursement, which will significantly contribute to the company's revenue and pave the way for sustained growth and enhanced marketplace valuation.

DME Partner's Programme

• The new DME partner's programme offers favourable payment terms to Therma Bright which reflects the partner's confidence in Venowave, its market readiness, the robust HCPCS reimbursement set-up and the expected reimbursement timing. 
• According to RXVantage “Days to Pay' from service average 54 days during the miscellaneous HCPCS code period. But, they quickly 'normalize' to under 30 days after the HCPCS code is issued.""

Words from the CEO: Therma Bright

• "We are thrilled to welcome our Nationwide distribution partner to our team, and look forward to working with them closely on this programme to demonstrate to their medical network the speed of reimbursement, as well as our efficient order and delivery process," shared Rob Fia, CEO of Therma Bright. 
• "We expect the programme to be successful, leading to a significant increase in Venowave orders on a monthly basis and accelerating our revenue growth."

About Venowave VW5

• The Venowave VW5 is a series of compact, battery-operated peristaltic pumps that generate a wave-form motion. 
• When worn below the knee, strapped firmly to the calf, the device results in compression of the calf and consequently an increased upward volumetric displacement of venous and lymph fluid.
• The 2-pair unit induces improved vascular and lymphatic flow in the lower limbs. 
• Operating with a single rechargeable 1.5 V NiMh AA battery, this FDA-designated Durable Medical Equipment device enables users to receive treatment anywhere while remaining active. 
• The Venowave VW5 assures it can withstand repeated use by successive patients.

HCPCS Level II code E068: Indications

HCPCS Level II code E068 qualifies for reimbursement for ten (10) indications, including: 

• Prevention of deep vein thrombosis (DVT); 
• Management of the symptoms of post-thrombotic syndrome (PTS); 
• Prevention of primary thrombosis; 
• Treatment of lymphedema; 
• Diminishing post-operative pain and swelling; 
• Treatment of leg swelling due to vascular insufficiency; 
• Treatment of varicose veins; 
• Treatment of chronic venous insufficiency; 
• Enhancing blood circulation; 
• Treatment of intermittent claudication.

About Therma Bright

Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges.