Spinal Cord Stimulation Coverage Policy to
Include 43 Million Additional Covered Lives
REDWOOD
CITY, Calif., Jan. 18,
2024 /PRNewswire/ -- Nevro Corp. (NYSE: NVRO), a
global medical device company that is delivering comprehensive,
life-changing solutions for the treatment of chronic pain, today
announced that Carelon Healthcare, a healthcare services
company dedicated to delivering whole-person care with connected
healthcare solutions for better outcomes and experiences, will be
publishing a new interventional pain management policy that expands
spinal cord stimulation (SCS) coverage for painful diabetic
neuropathy (PDN).
The policy, which will go into effect on April 14, represents an increase in PDN patient
coverage by nearly 43 million additional lives. Payers that utilize
Carelon Healthcare include Anthem Blue Cross in California; Anthem Blue Cross Blue Shield in
Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, New
Hampshire, Nevada,
New York, Ohio, Virginia, and Wisconsin; AmeriHealth; Empire BCBS;
Independence Blue Cross; and various Managed Medicaid plans.
"Carelon's coverage policy expansion is good news for people
with painful diabetic neuropathy as it will broaden access to
Nevro's 10 kHz Therapy, the only high-frequency parasthesia-free
SCS system FDA-approved to treat PDN," said Kevin Thornal, President and CEO of Nevro. "This
coverage policy expansion is a further testament to Nevro's
approach to expanding payer coverage, combining high-quality
clinical trial data and individual case-by-case approvals through
patient appeals and external reviews."
"Since the publication of the SENZA-PDN randomized controlled
trial (RCT), the largest RCT studying SCS for PDN and the only
paresthesia-free RCT demonstrating neurologic improvement,
insurance companies have validated the value of major investments
in meritorious research by broadening access to PDN patients," said
David Caraway, MD, chief medical
officer at Nevro. "We are confident that our extensive collection
of clinical and real-world data will continue to serve as the
foundation for additional coverage expansions by other prominent
health plans."
Globally, the number of people with diabetes has quadrupled in
the last two decades1, and PDN is one of its
most common complications, affecting up to 25 percent of all people
with diabetes. PDN symptoms can have a significant impact on
quality of life. These symptoms include numbness,
tingling/paresthesia, loss of protective sensation, impaired
balance, and reduced response to sensory
stimuli.2 Patients typically manage this
complication with oral pain medications, but the efficacy of these
medications is relatively low and can result in intolerable side
effects for patients.3 As a result,
people with PDN suffer significantly reduced health-related quality
of life (HRQoL), impaired functionality, and other comorbidities
like sleep disorders, depression, and
anxiety.4
To learn more about Nevro's 10 kHz TherapyTM for PDN
visit: www.nevro.com.
Internet Posting of Information
Nevro routinely posts information that may be important to
investors in the "Investor Relations" section of its website at
www.nevro.com. The company encourages investors and potential
investors to consult the Nevro website regularly for important
information about Nevro.
About Nevro
Headquartered in Redwood City,
California, Nevro is a global medical device company focused
on delivering comprehensive, life-changing solutions that continue
to set the standard for enduring patient outcomes in chronic pain
treatment. The company started with a simple mission to help more
patients suffering from debilitating pain and developed its
proprietary 10 kHz Therapy™, an evidence-based, non-pharmacologic
innovation that has impacted the lives of more than 100,000
patients globally. Nevro's comprehensive HFX™ spinal cord
stimulation (SCS) platform includes the Senza® SCS
system and support services for the treatment of chronic pain of
the trunk and limb and painful diabetic neuropathy. Nevro recently
added a minimally invasive treatment option for patients suffering
from chronic sacroiliac joint ("SI joint") pain and now provides
the most comprehensive portfolio of products in the SI joint fusion
space, designed to meet the preferences of physicians and varying
patient needs in order to improve outcomes and quality of life for
patients.
Senza®, Senza II®, Senza Omnia®, and HFX iQ™ are the
only SCS systems that deliver Nevro's proprietary 10 kHz
TherapyTM. Nevro's unique support services provide every
patient with HFX Coach™ support throughout their pain relief
journey and every physician with HFX Cloud™ insights for enhanced
patient and practice management.
SENZA, SENZA II, SENZA OMNIA, OMNIA, HF10, the HF10 logo, 10 kHz
Therapy, HFX, the HFX logo, HFX iQ, the HFX iQ logo, HFX Algorithm,
HFX CONNECT, the HFX Connect logo, HFX ACCESS, the HFX Access logo,
HFX COACH, the HFX Coach logo, HFX CLOUD, the HFX Cloud logo,
RELIEF MULTIPLIED, the X logo, NEVRO, and the NEVRO logo are
trademarks or registered trademarks of Nevro Corp. Patents covering
Senza HFX iQ and other Nevro products are listed at
Nevro.com/patents.
To learn more about Nevro, connect with us on LinkedIn, Twitter,
Facebook, and Instagram.
Forward-Looking Statements
In addition to historical information, this press release
contains forward-looking statements reflecting the company's
current beliefs and expectations of management made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, including our belief regarding the positive impact on
our business resulting from increased payor coverage. These
forward-looking statements are based upon information that is
currently available to us or our current expectations, speak only
as of the date hereof, and are subject to numerous risks and
uncertainties, including our ability to successfully continue to
develop and commercialize our products; our ability to manufacture
our products to meet demand; the level and availability of
third-party payor reimbursement for our products; our ability to
effectively manage our anticipated growth and the costs and
expenses of operating our business; our ability to protect our
intellectual property rights and proprietary technologies; our
ability to operate our business without infringing the intellectual
property rights and proprietary technology of third parties;
competition in our industry; additional capital and credit
availability; and our ability to attract and retain qualified
personnel. These factors, together with those that are described in
greater detail in our Annual Report on Form 10-K filed on
February 21, 2023, as well as any
subsequent reports filed with the Securities and Exchange
Commission, may cause our actual results, performance or
achievements to differ materially and adversely from those
anticipated or implied by our forward-looking statements. We
expressly disclaim any obligation, except as required by law, or
undertaking to update or revise any such forward-looking
statements.
Investors and Media:
Angie McCabe
Vice President, Investor Relations & Corporate
Communications
angeline.mccabe@nevro.com
1 World Health Organization.
(2016). Global report on diabetes. World Health Organization.
https://apps.who.int/iris/handle/10665/204871
2 Pop-Busui R, Ang L, Boulton AJM,
Feldman EL, Marcus RL, Mizokami-Stout K, et al. Diagnosis and
Treatment of Painful Diabetic Peripheral Neuropathy. Arlington (VA): American Diabetes Association;
2022.
3 Yang, M., Qian, C., & Liu, Y.
(2015). Suboptimal Treatment of Diabetic Peripheral Neuropathic
Pain in the United States. Pain
medicine (Malden, Mass.), 16(11),
2075–2083.
4 Alleman, C. J., Westerhout, K. Y.,
Hensen, M., Chambers, C., Stoker, M., Long, S., & van Nooten,
F. E. (2015). Humanistic and economic burden of painful diabetic
peripheral neuropathy in Europe: A
review of the literature. Diabetes research and clinical practice,
109(2), 215–225.
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SOURCE Nevro Corp.
