×

Baxano Surgical Announces Final Payment Decision From the Centers for Medicare & Medicaid Services for Pre-Sacral Interbody Fusion

RALEIGH, N.C., Dec. 12, 2013 (GLOBE NEWSWIRE) -- Baxano Surgical, Inc. (Nasdaq:BAXS), a medical device company focused on designing, developing and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region, today announced the 2014 Medicare Final Physician Fee Schedule Rule released in late November revises upward the Practice Expense Relative Value Units (PERVUs) for Current Procedural Terminology (CPT) Code 22586 for pre-sacral interbody fusion. The total Relative Value Units (RVUs) for CPT Code 22586 are 53.76 in 2014, an 18.8% increase over 2013.

"Pre-sacral interbody fusion, performed with our AxiaLIF Plus implant, is an important option for surgeons in their treatment of specific spine pathologies due to its less invasive approach," stated Ken Reali, President and CEO of Baxano Surgical. "The peer-reviewed medical literature supports AxiaLIF's safety and efficacy in appropriately selected patients. Medicare's revision to the physician fee schedule for the procedure helps to ensure that surgeons will be fairly compensated for performing the service."

About Baxano Surgical, Inc.

Baxano Surgical, Inc. is a medical device company focused on designing, developing, and marketing minimally invasive products to treat degenerative conditions of the spine affecting the lumbar region. Baxano Surgical currently markets the AxiaLIF® family of products for single and two level lower lumbar fusion, the VEO® lateral access and interbody fusion system, the iO-Flex® system, a proprietary set of flexible instruments used by surgeons during spinal decompression procedures and the iO-Tome® instrument, which rapidly and precisely removes bone, specifically the facet joints, which is commonly performed in spinal fusion procedures. Baxano Surgical was founded in May 2000 and is headquartered in Raleigh, North Carolina. For more information, visit www.baxanosurgical.com.

AxiaLIF, VEO, iO-Flex and iO-Tome are registered trademarks of Baxano Surgical.

CONTACT: Westwicke Partners Mark Klausner 443-213-0501 baxanosurgical@westwicke.comSource:Baxano Surgical, Inc.