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Osiris Therapeutics (OSIR) a hat trick - BUY

January 5, 2016 10:36am

Grafix was approved for Medicare coverage from Cahaba for patients with chronic wounds while announcing contract with a major Group Purchasing Organization

Grafix, a cryopreserved placental membrane, has been approved for coverage for patients with chronic wounds.

Medicare contractor, Cahaba Government Benefit Administrators, has confirmed that Grafix has been approved for coverage for patients with chronic wounds, effective January 1, 2016. This Medicare Administrative Contractor covers the states of Alabama, Georgia and Tennessee, or approximately 3.8 million lives.

Additionally, Grafix has been awarded a contract with a major Group Purchasing Organization that has over 1600 members nationwide.

The Bottom Line: Complete Medicare reimbursement for Grafix now covers 135 million Medicare, Medicaid and commercial beneficiaries by Cahaba marks a significant increase. The question will be the revenue incurred. Also, Group Purchasing Organizations and Integrated Delivery Networks (IDN) supply valuable financial and efficiency-related services to healthcare providers, including major hospital networks in the U.S.

OSIR is UP +$0.54 on 85.9 K volume to $10.57

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