Mazor Surgical Technologies Ltd. (TASE:MZOR) has made another step towards insurance coverage of its spinal surgical procedure device. The North American Spine Society has approved the company's SpineAssist system for helping surgeons accurately place implants in the spine.
The approval enables doctors to receive a reimbursement of $230 for use of the system per procedure. Mazor believes that this approval is a step towards recognition by US health and insurance institutions, such as Medicare and Medicaid, of SpineAssist's clinical advantages.
The reimbursement does not fully cover a hospital for use of SpineAssist. It is payment to the doctor for using the technology, and serves as an incentive to use it.
Medical insurance through US health institutions, as well as by most insurance companies worldwide, use a system of codes. Each medical procedure has a specific code, which defines the insurance company's payment to the hospital and physician for the procedure.
Basically, Mazor has received approval to register a code for its technology, which provides the surgeon partial coverage for the procedure in addition to payment received from the hospital.
Published by Globes [online], Israel business news - www.globes-online.com - on November 22, 2007
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