Spark Biomedical's Advancements in Opioid Withdrawal Therapy
![Spark Biomedical's Advancements in Opioid Withdrawal Therapy](https://investorshangout.com/images/blog/ihnews-Spark%20Biomedical%27s%20Advancements%20in%20Opioid%20Withdrawal%20Therapy.jpg)
Spark Biomedical Has Been Issued New CMS Codes for Transcutaneous Auricular Neurostimulation (tAN) Therapy
Spark Biomedical, Inc., a leader in non-invasive neurostimulation technology, has been issued two unique Healthcare Common Procedure Coding System (HCPCS) codes by the Centers for Medicare and Medicaid Services (CMS). These codes cover Sparrow Ascent, the first FDA-cleared non-invasive neurostimulation device for opioid withdrawal treatment that delivers transcutaneous auricular neurostimulation (tAN) therapy, and its daily-disposable Earpiece Kit. The issuance of these codes is a critical step in securing insurance coverage, making this innovative treatment more accessible to people with opioid use disorder nationwide.
Bridging a Critical Gap in Opioid Recovery
In the United States, the opioid crisis continues to have a devastating impact, causing numerous overdose deaths daily. Despite the severity of this epidemic, a significant number of individuals with opioid use disorder do not receive adequate treatment. The new HCPCS codes granted for Sparrow Ascent represent a substantial advancement in making effective opioid detox solutions more accessible. Through the use of innovative bioelectric medicine, Sparrow Ascent bridges crucial treatment gaps, enabling those who cannot leave their homes, jobs, or families to manage this initial step towards recovery effectively.
Transforming Treatment through Home-Based Recovery
Recognizing the critical need for accessible opioid withdrawal treatment options, CMS's decision establishes Sparrow Ascent as the first opioid withdrawal treatment device to be recognized as durable medical equipment (DME). Set to take effect on a specified date, these codes not only enhance the accessibility of opioid withdrawal treatment but also empower individuals to start their recovery journey from the comfort of their homes.
Leadership Insights
Spark Biomedical's CEO, Daniel Powell, commented on the development, saying, "We are pleased that CMS recognizes the profound impact that The Sparrow Ascent can have on the opioid epidemic, and we are determined to continue to obtain widespread coverage so that every American struggling with opioid addiction can access this life-saving therapy." This commitment highlights the company's dedication to addressing a national health crisis.
Next Steps for Spark Biomedical
Looking forward, Spark Biomedical is committed to leveraging the new HCPCS codes to expand Sparrow Ascent access to as many Americans with opioid use disorder as possible. The company will continue to work closely with the Centers for Medicare and Medicaid Services to ensure a smooth implementation of the codes and broaden access to Sparrow Ascent. Additionally, Spark Biomedical is dedicated to ongoing research and development to push the boundaries of innovation with bioelectric medicine, offering better options in the fields of mental health, women’s health, hemostasis, pediatrics, and chronic pain.
About Spark Biomedical
Spark Biomedical, Inc. is a leading U.S.-based medical device developer committed to unlocking the potential of bioelectric medicine and bringing novel wearable neurostimulation treatment options to market in mental health, women’s health, hemostasis, pediatrics, and chronic pain. Spark has received funding from federal institutions and continues to partner with private and academic institutes. Leveraging its neuroscience and engineering expertise, Spark provides innovative, evidence-based tools designed to address complex care situations surpassing existing treatment options. Spark Biomedical is paving a better way forward for the future of patient care and medical technology. For more information, visit sparkbiomedical.com.
For inquiries, please contact Udim Obot at udim.obot@sparkbiomedical.com.
Frequently Asked Questions
What are the new CMS codes for Spark Biomedical?
The new CMS codes cover the Sparrow Ascent device and its daily-disposable Earpiece Kit for non-invasive neurostimulation treatment in opioid withdrawal.
How does Sparrow Ascent aid in opioid withdrawal recovery?
Sparrow Ascent utilizes transcutaneous auricular neurostimulation (tAN) therapy to help manage opioid withdrawal symptoms, allowing individuals to undergo treatment at home.
What impact does this have on insurance coverage?
The issuance of HCPCS codes is a critical step towards securing insurance coverage, making this innovative treatment more accessible to those in need.
What future plans does Spark Biomedical have?
Spark Biomedical plans to expand access to Sparrow Ascent and continue research to innovate in areas such as mental health and chronic pain treatment.
Who is the CEO of Spark Biomedical?
The CEO of Spark Biomedical is Daniel Powell, who is committed to addressing the opioid epidemic and providing accessible treatment options for those affected.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Challenges Faced by Super Micro Computer Amid Market Uncertainty
- Life Extension Addresses Hormone-Related Discomforts in Women
- Veterinary Vaccines Market Poised for Significant Growth
- Analyzing Abercrombie & Fitch's Recent Earnings Report
- Cell and Gene Therapy Market Growth Forecast to 2034
- Growth Forecast for Cosmetic Packaging Machinery Market
- Rarible Collaborates with Exodus: Enhancing NFT Experiences
- Transcontinental Inc. Announces Q3 2024 Financial Results
- Vishay Intertechnology Launches New ESD Protection Diode
- Telos Corporation Wins $485 Million Award Resolution