PONTE VEDRA, Fla., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. ("Treace" or the "Company") (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of bunions and related midfoot deformities through its flagship Lapiplasty® and Adductoplasty® Procedures, today commented on the recently released Centers for Medicare & Medicaid Services (CMS) Calendar Year 2025 Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Final Rule, effective January 1, 2025.
The Final Rule and accompanying Addenda include the reassignment of Current Procedural Terminology (CPT) code 28297 (a primary code used for Lapidus fusion and one typically used for Lapiplasty® procedure reimbursement) to Ambulatory Payment Classification (APC) code 5115 with a hospital outpatient payment rate of $12,867 for 2025. This represents an increase of $6,050, or 89%, over 2024. In the ASC setting, the 2025 payment is $9,820, an increase of 100%, compared to $4,900 for 2024.
“As the pioneer of the market leading Lapiplasty® 3D Bunion Correction® System, we are pleased that the final rule recognizes the value that Lapidus fusion offers patients suffering from painful, lifestyle-limiting bunion deformities,” said John T. Treace, CEO and Founder of Treace.
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About Treace Medical Concepts
Treace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 67 million Americans, of which Treace estimates 1.1 million are annual surgical candidates. Treace has pioneered and patented the Lapiplasty® 3D Bunion Correction® System – a combination of instruments, implants, and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. To further support the needs of bunion patients, Treace has introduced its Adductoplasty® Midfoot Correction System, designed for reproducible surgical correction of midfoot deformities. The Company continues to expand its footprint in the foot and ankle market with the introduction of its SpeedPlate™ Rapid Compression Implants, an innovative fixation platform with broad versatility across Lapiplasty® and Adductoplasty® procedures, as well as other common bone fusion procedures of the foot. For more information, please visit www.treace.com.
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Contacts:
Treace Medical Concepts
Mark L. Hair
Chief Financial Officer
[email protected]
(904) 373-5940
Investors:
Gilmartin Group
Vivian Cervantes
[email protected]
