Minimally Invasive Stretta Therapy Gains Momentum as HCSC BCBS Adds Coverage for 16 Million New Patients
We’ve all been there. In our doctor’s office, or on the phone with their billing manager, being told that a drug or procedure we hoped for is not covered by our insurance plan. After weeks or even months of researching online, talking to other patients, and comparing alternatives, we’ve been told that our insurance plan simply will not cover that solution. Our frustration is shared by the doctor, who has had success with that procedure or drug on patients just like us.
Medical device companies are in the middle of this. We feel the frustration of the doctor and patient, but we also understand the responsibility the insurance company has to make evidence-based decisions on what is safest and most effective for their population. With new technology being introduced continually, insurance companies have a lot to consider, and decisions are not made lightly.
So how does change happen? Insurance companies change their coverage policies, after they are presented with high quality evidence that convinces them that the procedure is safe, reliable, and effective, both medically and in terms of cost. This takes legitimate peer-reviewed, published clinical studies incorporating hundreds or thousands of patients and a lot of effort and organization to present the right information to the right people, such as the insurance companies’ medical directors and clinical coding teams.
Since acquiring Mederi Therapeutics in 2018, Restech has focused on driving the process to see expanded coverage for Stretta. It has been a challenge, but through the efforts of our dedicated team, and the advocacy of our physicians users and their patients, we are making great progress.
Restech is pleased to announce that Stretta Therapy is now available to more reflux patients than ever before. Beginning on 02/01/2021, 16 million Blue Cross Blue Shield patients in Texas, Illinois, Oklahoma, New Mexico, and Montana can be considered for the benefits of Stretta Therapy. This unprecedented expansion is a testament to the advocacy of our physicians, patients, and clinical outcomes – with recent studies suggesting that upwards of 90% of selected patient cohorts could benefit from Stretta Therapy.
HCSC’s BCBS coverage decision follows BCBS of North Dakota’s positive coverage determination and Palmetto GBA’s Medicare coverage in Alabama, Georgia, Tennessee, South Carolina, North Carolina, Virginia, and West Virginia. In addition, First Coast Service Options Inc provided a similar change in coverage determination for Medicare patients in Florida, Puerto Rico, and the US Virgin Islands. Private payers such as Highmark, and Medicare providers such as Novitas continue to cover Stretta Therapy. Veterans Administration patients nationwide have long had access to Stretta Therapy.
Debra Krahel, President and CEO of Restech commented, “HCSC’s positive coverage determinations and the addition of 16 million covered lives are the culmination of hard work from our team, our physicians, and the thousands of patients requesting a minimally invasive approach to reflux. Stretta provides a safe, effective alternative to medication and anatomy altering surgery with an impressive history of clinical documentation – we are gratified that insurance providers are responding to patient and physician demand. Coverage determinations, such as this, help fuel our growth as a company and represent an exceptional opportunity to our investors and shareholders.”
For further information about Stretta coverage, please contact our team at 1-800-352-1512 or write to us at contact@restech.com.
Bree has been an integral part of Restech from the very beginning. She holds a Masters in Public Health from George Washington University, a BFA from The University of Kansas in Visual Communications, and is a National Board Certified Health & Wellness Coach. Her command of marketing, public health/health delivery systems, and human health behavior change gives her a unique perspective in developing effective marketing strategies for the company.
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Thomas previously worked as a polysomnographic technologist in the Virginia Mason system, before moving into sales with Restech in 2007. After spending 9 years working with distributors across Europe, he was moved into an organizational role at the head office in Houston. In this capacity he works closely with sales and marketing to provide clinical support, manages clinical studies, and provides clinical perspectives on business development. In his spare time Thomas plays rugby for Houston Athletic Rugby Club.
Jeff has over 30 years of experience in the medical device industry and previously worked in sales at companies such as Encision Inc., Interventional Therapies, LLC, Boston Scientific, and United States Surgical Corporation. He has been working as the VP of Sales for Mederi Therapeutics since 2009 and now brings his extensive expertise to Restech. Jeff was part of the team that bridged the Mederi asset sale to Restech. His clinical knowledge of the Stretta and Secca technologies is invaluable. Jeff has three decades of physician relations experience that he brings to Restech as part of the leadership team.
Ray joined Restech in May 2018 as the Vice President for Sales. He has been in the medical device, and specifically in the GERD space for more than 18 years. Starting in sales at Sandhill Scientific pH diagnostics, he moved on to Curon Medical when Stretta and Secca were first introduced to the market. He then worked for Given Imaging when Curon closed operations. When Stretta was relaunced he joined Mederi as VP of Sales. Ray was instrumental in keeping Stretta alive and the customer based informed when Mederi ceased operation and assets were purchased by Restech. He is part of the leadership team directing all product sales for Restech. Ray graduated from Old Dominion University in Norfolk with a BS in Marketing and Business Administration.
Mark is a seasoned professional and Certified Public Accountant in Texas who brings a unique blend of creative vision and financial expertise to any leadership team. He worked as a Senior Executive for 15 years on a leadership team which grew a private equity backed cash logistics company performing at negative EBITDA on $100 million revenue into an international industry leader with superior profitability on revenue exceeding $1.5 billion. In addition, he spent 10 years as a Senior Manager at Price Waterhouse delivering results-oriented merger & acquisition, audit and strategic consulting services to middle market clientele including over 40 manufacturing, distribution, service, nonprofit and technology clients. Mark currently serves as a Chief Financial Officer and consulting CFO (seven years) providing in-house and outsourced CFO and transactional services to the middle market.
Larry is the CTO for Restech and holds a B.S. in Computer Science. He is a software architect specializing in remote patient monitoring, medical sensors, and clinical trial software. Larry holds a patent on massively distributed computing and has worked for a number of major software startup companies including Sybase, Oracle, and Teradata. Larry was also the co-founder of a startup to deliver advanced clinical pathways to patients using mobile devices and medical sensors. Larry is truly a pioneer and now a veteran in the deployment.
Jeff has a breadth of experience with over 25 years in engineering and executive positions within major fortune 100 healthcare companies. He also has proven success in startup medical technology companies. Jeff provides leadership in securing and managing Restech’s patent portfolio. He also built Restech’s compliance platform that established regulatory acceptance in 25+ countries worldwide. Jeff’s scientific support and in-depth understanding of the device industry set the foundation for current and future commercial innovations at Restech.
With nearly 30 years of working with physician thought leaders developing novel and emerging technologies, Leo has played a key role in the development and evolution of balloon angioplasty and stent technologies that revolutionized the therapy of cardiac disease. His experience was instrumental in the development of the patented platform technology which drives the Restech sensor. Leo provides a vision and passion for effecting change in the diagnosis and management of atypical reflux.
With over 20 years of executive experience in both the private and public sector, Debra brings a broad understanding of healthcare delivery system. With experience managing products aimed at wide scale disease and population management for 20 million subscribers, Debra has extensive experience in effectively and efficiently developing models of delivery that address specific health issues. Debra has also been involved in the legislative process and served as the elected President of the Independent Physician Association of California. Debra is dedicated to bringing tools to the healthcare market that improve and support the clinical process.