First Webinar for Wound Care Professionals to be held September 15th at 1:00 p.m. Eastern on http://www.woundsresearch.com/ICD10
GAITHERSBURG, Md., Sept. 14, 2015 (GLOBE NEWSWIRE) -- Nuo Therapeutics, Inc. (OTCQX:NUOT), a pioneer in biodynamic therapies, today announced it has launched a series of educational tools designed to aid wound care centers in making the transition from ICD-9 to ICD-10 in advance of the October 1st 2015 implementation date, as mandated by the Centers for Medicare & Medicaid Services (CMS).
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These tools, created by the reimbursement experts at Nuo Therapeutics and their partners, include:
- Wound Care Reimbursement Code Converter
- Educational Webinar for Wound Care Professionals
- Accredited Online Wound Care Education Series for Billers and Coders
"As the U.S. healthcare system moves from a fee-based model to a performance-based model, a hospital's ability to demonstrate quality outcomes will continue to increase in importance," said Dean Tozer, President and Chief Executive Officer of Nuo Therapeutics. "Proper coding is key to this effort, and as the ICD-10 transition nears, we saw an opportunity to take a leadership position in helping educate healthcare providers, billers and coders on the many, complicated and nuanced matters related to the new wound care coding and reimbursement landscape."
Wound Care Reimbursement Code Converter
The "Wound Care Reimbursement Code Converter" assists billers and coders in converting ICD-9-CM wound care codes to the ICD-10-CM equivalents. In addition, the Converter offers the ability to do a reverse look-up of the ICD-9-CM code associated with the new ICD-10-CM codes.
The tool is available online at http://aurixsystem.com/ICD10/ or as a pocket guide, which may be obtained from a Nuo Therapeutics representative.
Educational Webinar for Wound Care Professionals
Nuo Therapeutics has partnered with HMP Communications to host an educational webinar during which wound care physician, Dr. Bob Bartlett, MD, FAPWHc, CME, FACEP, UHM and Chief Medical Officer of Restorix Health, Inc., along with wound care reimbursement expert, Linda Martien, CPC, COC, CPMA of Nuo Therapeutics, will review the new charting requirements under ICD-10 and what its implementation will mean specifically for wound care professionals. In addition, the speakers will highlight several examples of diagnostic coding in wound care under ICD-10 as it compares to ICD-9.
The webinar, titled "DE-CODING THE CODE: Solutions for a Smooth Transition to ICD-10 for Wound Care Professionals," will be available at 1:00 p.m. Eastern on Tuesday, September 15th and Thursday, November 5th, respectively, with a live question and answer session following each event. To register, please visit: http://www.woundsresearch.com/ICD10.
Accredited Online Wound Care Education Series for Billers and Coders
As the Company previously announced, it has partnered with AAPC to launch a series of accredited interactive modules focusing on key topics in wound care and the coding and billing of treatments in this specialty area.
The first module, Wound Care 101, is focused on providing billers and coders a foundational knowledge of wound care, and is now available for registered users on the AAPC Learning Management System. The second module in this series, Wound Care 201, which will incorporate education on ICD-10 coding, is expected to launch later this year. Participants will be eligible to receive continuing education credits toward their AAPC certification.
About the Transition to ICD-10
Coding under ICD-10 will require healthcare professionals to adhere to a much higher level of specificity and accuracy when transcribing and coding their patients' diagnoses and procedures than under ICD-9. In ICD-10, there are ten times more codes for diabetic foot ulcers, venous leg ulcers and pressure ulcers, alone, aimed at generating a clearer picture of patient care and outcomes and, in turn, more accurate reimbursement from both private and public payers.
CMS has created several online resources to help healthcare providers jumpstart their transition to ICD-10, including a Quick Start Guide and a Road to 10 online resource or small practice physicians.
For more information on the differences between ICD-9 and ICD-10 as it relates to wound care, Nuo Therapeutics has also created a guide: http://aurixsystem.com/ICD10/.
About Nuo Therapeutics
Nuo Therapeutics, Inc. (the "Company") is a biomedical company that pioneers leading-edge biodynamic therapies for wound care. The Company's flagship product, Aurix is a biodynamic hematogel that harnesses a patient's innate regenerative abilities for the management of a variety of wounds. For additional information please visit www.nuot.com.
About Aurix System
Aurix is the first platelet and plasma therapy system to be cleared by FDA for the management of a broad range of ulcers and exuding wounds, including:
- All types (diabetic foot ulcer, venous leg ulcer, pressure ulcer, etc.),
- All morphologies (partial thickness, full thickness and complex wounds),
- All severities (tunneling, sinus tract, bone, tendon and hardware exposure).
Unlike other cellular-based treatment options, Aurix is an autologous biodynamic hematogel that is derived from a patient's own platelets and plasma. The product is used at the point-of-care to stimulate the natural wound healing process from deep within the wound bed. For additional information, please visit www.AurixSystem.com.
Safe Harbor Statement
This press release contains "forward-looking statements" pursuant to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "believes", "forecasted," "projects," "is expected," "remain confident," "will", "estimate," "target," "plan," "should", "would," "is likely," "may," and/or similar expressions. The information contained in the forward-looking statements, including without limitation those about the Company's estimated revenue, product sales, product placements, gross margin, operating expenses and other income or expenses, is inherently uncertain, and the Company's actual results may differ materially from these forward-looking statements. These forward-looking statements include, without limitation, statements concerning the Company's ability to successfully launch and rebrand its wound care system in the timeframe and to the extent anticipated, product placement with the VA System, enlistment of wound care centers, the Company's ability to estimate the potential of the wound care market and to commercialize any of its rebranded products / therapies, successfully execute its Aurix sales and commercialization strategies, the Company's ability to commercialize Aurix as expected and derive financial and commercial benefits of such launch, to achieve Aurix expected reimbursement rates beyond 2015, the Company's ability to comply with the debt covenants and restrictions under its existing loan facilities including from Deerfield Management Company, L.P., the Company's ability to realize expected benefits from the Arthrex licensing arrangement, the Company's ability to collect the data necessary for the grant of the unconditional coverage, the Company's ability to continue in its efforts to expand in the wound care market, and its ability to successfully negotiate with physician offices as anticipated and to realize the anticipated sales growth from such treatment. Forward-looking statements are also subject to many risks and uncertainties that could cause our actual results and the timing of certain events to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, risks as to whether the Company may achieve future favorable CMS determinations relating to the reimbursement rates for Aurix, the Company's ability to successfully realize sales of the Angel Technology resulting in the royalty stream to the Company, the Company's ability to expand patient populations as contemplated, its ability to provide Medicare patients with access as expected, the Company's ability to realize its expectations of favorable future dialogue with potential strategic partners, its ability to identify, proceed with and consummate strategic initiatives , its ability to successfully manage contemplated clinical trials, its ability to manage and address the capital needs, human resources, management, compliance and other challenges of a larger, more complex and integrated business enterprise, the viability and effectiveness of the Company's sales approach and overall marketing strategies, its ability to secure Medicare reimbursements at adequate levels; its ability to realize commercial success or acceptance by the medical community, the Company's ability to raise additional capital or issue additional securities and to continue as a going concern, and the Company's ability to execute on its strategy to market the Aurix System as contemplated, and other risks and uncertainties described in our filings with the U.S. Securities and Exchange Commission, including the most recent reports on Forms 10-K, 10-Q and 8-K, and any amendments thereto. Undue reliance should not be placed on forward-looking information. Nuo Therapeutics operates in a highly competitive and rapidly changing business and regulatory environment, thus new or unforeseen risks may arise. Except as is expressly required by the federal securities laws, Nuo Therapeutics undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
