SUNNYVALE, CA -- (Marketwired) -- 09/04/14 -- Spiracur, the developer of the only mechanically powered advanced wound care solution that delivers the proven efficacy of Negative Pressure Wound Therapy (NPWT), today announced that Health Care Services Corporation (HCSC) has approved reimbursement coverage of the SNaP® Wound Care System for the treatment of chronic and acute wounds. HCSC is the largest customer-owned health insurer in the United States and the fourth largest overall, operating through its Blue Cross and Blue Shield® Plans in Illinois, Montana, New Mexico, Oklahoma and Texas, as well as Dearborn National, for a combined 14 million members.
"HCSC performed a rigorous and diligent technology review of the SNaP System before awarding reimbursement coverage," said Chris Fashek, president and chief executive officer for Spiracur. "After this evaluation, it was clear that our innovative Smart Negative Pressure® (SNaP) System will benefit HCSC's members as part of its covered services.
"Spiracur now has more commercial covered lives, at just over 88 million, compared to our Government covered lives, which is nearly 87 million and made up of Medicare, the VA, Federal Employee Health Benefit Plans and Indian Health Services," continued Fashek. "As a result, Spiracur's SNaP System is now reimbursed in all 50 states, with over 175 million covered lives."
Spiracur is credited with creating a new category of chronic and acute wound management solutions that combine the benefits of advanced wound care with non-powered NPWT. The SNaP System provides patients with a sophisticated, non-invasive and disposable NPWT system designed to promote wound healing, which weighs only 2.2 ounces and does not require batteries or electricity. The disposable device may easily be worn under clothing.
HCSC approved reimbursement of the SNaP System as a component of a wound therapy program that may be considered medically necessary for acute wounds (present less than 30 days) and chronic wounds (present at least 30 days). Acute wounds include traumatic wounds or ulcers, non-healing wounds, or the result from complications of a surgically created wound. Chronic wounds include non-healing ulcers such as chronic stage III or IV pressure ulcers, diabetic neuropathic ulcers, venous or arterial insufficiency ulcers, or an ulcer of mixed etiology.
About Spiracur Inc.
Spiracur Inc., headquartered in Sunnyvale, Calif., is a privately held medical device company focused on the development of innovative wound healing technologies. Spiracur was founded out of the Stanford University Biodesign Innovation Program in 2007. Its first product, the SNaP Wound Care System for the treatment of chronic and acute wounds, is the result of patient and clinician feedback that current negative pressure wound therapies were too cumbersome. The company's ciSNaP® Closed Incision System with proprietary controlled tension relief is designed to improve healing of high-risk surgical incisions. Both devices have received 510(k) clearance from the U.S. Food & Drug Administration (FDA) and have received CE Mark approval. Spiracur's proprietary mechanically powered technology does not require batteries or electricity to operate. For more information, please visit http://spiracur.com.
Spiracur, Spiracur logo, SNaP, Smart Negative Pressure, and ciSNaP are registered trademarks of Spiracur Inc.
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