MiMedx Group, Inc., the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the wound care, surgical, orthopedic, spine, sports medicine, ophthalmic, and dental sectors of healthcare, announced that the company's EpiFix product has received coverage from insurer Aetna Inc. effective December 23, 2016.
With this coverage decision, the approximately 17.5 million Aetna commercial members now have coverage for EpiFix. Aetna considers EpiFix medically necessary for treatment of partial and full-thickness neuropathic diabetic foot ulcers (DFUs) that are greater than six weeks in duration with no capsule, tendon or bone exposed, when used in conjunction with standard diabetic ulcer care.
Parker H. "Pete" Petit, chairman and CEO said, "We are very pleased to have received coverage from Aetna and with the significant progress we have made in gaining coverage for our allografts from both the commercial, as well as the federal and state payers. We believe we have substantial opportunities ahead as we continue to grow our advanced wound care products and broaden the other therapies and market sectors we serve with our allografts. Gaining coverage from all commercial payers has been a critical strategy for MiMedx. From our viewpoint, attainment of EpiFix coverage for the vast majority of the commercial covered lives has been a significant contributor to the success we have experienced in achieving and exceeding our growth projections."
Bill Taylor, president and COO, stated, "The clinical efficacy and cost effectiveness of tissues and products are heavily scrutinized by the commercial health plans. It is clear to us that the evidence demonstrating that our allografts benefit their members clinically, as well as provide more cost effective care, has been a significant factor in our success in attaining coverage awards from insurers. We know the positive clinical and economic impact our allografts have on their covered populations, and we are always pleased when health plans come to this same conclusion."
"Including Aetna, we now have over 200 commercial health plans representing more than 198 million covered lives providing insurance coverage. Within the more than 200 commercial health plans, Blue Cross/Blue Shield plans encompassing 47 states plus the District of Columbia also provide insurance coverage for their members. In addition to the commercial health plans, 40.3 million Medicare and 55.4 million Medicaid beneficiaries have insurance coverage for our allografts," concluded Petit.