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Sensus Healthcare Announces CMS Sets Rates Higher for SRT Reimbursement

December 8, 2020
  • Centers for Medicare & Medicaid Services sets a 66% increase in reimbursement for Radiation Treatment Delivery code 77401, and increases related Evaluation & Management codes
  • Rates to go into effect as of January 1, 2021

BOCA RATON, Fla, Dec. 08, 2020 — Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for oncological and non-oncological conditions, announces that the Centers for Medicare & Medicaid Services (CMS) has issued a new, final reimbursement amount for CPT® code 77401 of approximately $41 per treatment. CPT code 77401 covers the delivery of Superficial Radio Therapy (SRT) and this new amount represents a 66% increase from current levels. This is the first meaningful revaluation of CPT code 77401 since 2002.

In addition to this revaluation, Evaluation & Management (E/M) codes that CMS directs users of SRT to utilize also are increasing by double-digit percentages. All these increases are effective as of January 1, 2021.

“Sensus, along with hundreds of physicians and thousands of skin cancer patients, have advocated for a more fair and equitable reimbursement for SRT for nearly a decade,” said Michael Sardano, Vice President & General Counsel of Sensus Healthcare. “We are thrilled that our physician customers will finally be paid a fairer amount for an effective, non-invasive and patient-friendly method of treating non-melanoma skin cancer without the risks and recovery associated with other forms of treatment such as surgery. SRT has been shown to have a virtually identical cure rate to Mohs surgery, yet because SRT is non-invasive, patients who choose this form of treatment have one less thing to worry about during the COVID-19 pandemic.”

We are optimistic that a higher level of reimbursement will support the ability of dermatologists to offer SRT as an option to their patients. This is very important in light of guidelines recently issued by the American Society for Radiation Oncology (ASTRO) that recommend SRT as the first-line alternative to surgery when treating patients,” said Dr. Mark Nestor, President of the American Cutaneous Oncology Society (ACOS), an advocate group for SRT users. “The ASTRO recommendation also follows the published Consensus guidelines supporting the use of SRT as the leading highly effective, non-invasive treatment option for non-melanoma skin cancer.”

Commenting on the code revaluation, William I. Roth M.D., a private practice dermatologist and Mohs surgeon in Boynton Beach, Florida and a member of the board of directors of the ACOS, said, “I was invited to attend the Relative Value Update Committee (RUC) meeting in Arizona last year to speak for increasing the value of 77401. I was happy to do this because I feel this is an essential modality that was very undervalued, and which needs to be more widely available. The recent increases in valuation are a great first step in getting an overall fair valuation.”

About Sensus Healthcare

Sensus Healthcare, Inc. is a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for both oncological and non-oncological conditions. The Sculptura™ modulated robotic brachytherapy radiation oncology system provides targeted directional anisotropic radiation therapy (ART) and brachytherapy utilizing our proprietary, state-of-the-art 3D Beam Sculpting™ to treat patients undergoing cancer treatment during surgery, or at the tumor site, fast and efficiently. Sensus also offers its proprietary low-energy X-ray technology known as superficial radiation therapy (SRT), which is the culmination of more than a decade of research and development, to treat non-melanoma skin cancers and keloids with its SRT-100™, SRT-100+™ and SRT-100 Vision™ systems. With its portfolio of innovative medical device products, Sensus provides revolutionary treatment options to enhance the quality of life of patients around the world.

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Forward-Looking Statements

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By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and healthcare, regulatory and scientific developments, and depend on the economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward looking statements contained in this press release, as a result of, among other factors: the continuation and severity of the COVID-19 pandemic, including its impact on sales and marketing; our ability to achieve and sustain profitability; market acceptance of our product lines; our ability to successfully commercialize our products; our ability to compete effectively in selling our products and services, including responding to technological change and cost containment efforts of our customers; our need and ability to obtain additional financing in the future; our ability to expand, manage and maintain our direct sales and marketing organizations; our ability to obtain and maintain intellectual property of sufficient scope to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; the willingness of healthcare providers to purchase our products if coverage, reimbursement and pricing from third party payors for procedures using our products declines; the level and availability of government and third party payor reimbursement for clinical procedures using our products; our ability to effectively manage our anticipated growth, including hiring and retaining qualified personnel; the regulatory requirements applicable to us and our competitors; our ability to manufacture our products to meet demand; our current reliance on third party manufacturers and sole- or single-source suppliers, as well as our ability to successfully transition manufacturing of our products in-house; our ability to reduce the per unit manufacturing costs; our ability to efficiently manage our manufacturing processes; the regulatory and legal risks, and certain operating risks, that our international operations subject us to; the fact that product quality issues or product defects may harm our business; the accuracy of our financial statements and accounting estimates, including allowances for accounts receivable and inventory obsolescence; any product liability claims; new legislation, administrative rules, or executive orders, including those that impact taxes and international trade regulation; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; and other risks described from time to time in Sensus Healthcare’s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. Any forward-looking statements that we make in this press release speak only as of the date of such statement, and we undertake no obligation to update such statements to reflect events or circumstances after the date of this press release. You should read carefully our “Cautionary Note Regarding Forward-Looking Information” and the factors described in the “Risk Factors” section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.

LHA Investor Relations
Kim Sutton Golodetz
[email protected]

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