×

21st Century Oncology Comments on Three-Year Freestanding Radiation Oncology Payment Rate Freeze

FORT MYERS, Fla., Jan. 12, 2016 (GLOBE NEWSWIRE) -- 21st Century Oncology Holdings, Inc. (the "Company"), the largest global, physician-led provider of integrated cancer care services, commented today on recently passed legislation ahead of its presentation at the 34th Annual J.P. Morgan Healthcare Conference on January 12th, 2016 at 1:30pm PT / 4:30pm ET, where it will discuss the benefits of this new bill.

The United States Congress unanimously passed the Patient Access and Medicare Protection Act (S. 2425) which freezes radiation oncology freestanding payment rates for treatment delivery and image guidance codes in 2017 and 2018 at levels set for 2016. CMS will transition to a new episodic alternative payment model in 2019. The codes in the bill that are expressly protected are G6001 to G6015, which include IMRT, conformal and IGRT treatment. The bill was signed into law by President Obama on December 28, 2015.

The legislation also requires the Secretary of Health and Human Services (HHS) to submit to Congress a report on the development of an episodic alternative payment model for reimbursement under the Medicare program within 18 months.

Dr. Daniel Dosoretz, Founder, Chief Executive Officer and President, commented, “We applaud Congress and President Obama for their dedication to working together with the industry to advance payment reform and achieve payment predictability while ensuring patient access to quality cancer care. This is an exceptional example of how bipartisan collaboration can deliver a meaningful benefit to patients in need of the most advanced technologies available in radiation therapy. We look forward to working with policymakers over the next few years on developing an alternative payment model which will provide continued access to sophisticated radiation therapy treatment for patients for years to come.”

About 21st Century Oncology Holdings, Inc.

21st Century Oncology Holdings, Inc. is the largest global, physician led provider of integrated cancer care services. The Company offers a comprehensive range of cancer treatment services, focused on delivering academic quality, cost-effective patient care in personal and convenient settings. As of September 30, 2015, the Company operated 182 treatment centers, including 146 centers located in 17 U.S. states and 36 centers located in seven countries in Latin America.

21st Century Oncology Contact: LeAnne M. Stewart Chief Financial Officer 239-931-7281 leanne.stewart@21co.com Investor Contact: The Ruth Group Nick Laudico 646-536-7030 nlaudico@theruthgroup.com Brandon Vazquez 646-536-7032 bvazquez@theruthgroup.com

Source: 21st Century Oncology Holdings, Inc.