DGAP-News: Competitive Technologies Announces New CPT(R) Code for Scrambler Therapy(TM) From the Ame
(IINews) - Competitive Technologies, Inc.
01.07.2011 22:14
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CTTC Focusing on Universal Coverage for Cancer Patients
FAIRFIELD, Conn., 2011-07-01 22:14 CEST (GLOBE NEWSWIRE) --
Competitive Technologies, Inc. (OTCQX:CTTC) today announced that the American
Medical Association's Editorial Panel for Current Procedural Terminology (CPT)
has established a new Category III CPT(r) code to report procedures, such as
treatment of chemotherapy-induced peripheral neuropathy (CIPN), involving
Competitive Technologies' Calmare(r) pain therapy medical device, which features
Scrambler Therapy(tm) technology. See http://www.ama-assn.org/go/CPT . The new CPT
code is as follows:
0278T Transcutaneous electrical modulation pain reprocessing (e.g,
scrambler therapy), each treatment session (includes placement of electrodes).
The Calmare device has successfully treated CIPN and other neuropathic cancer
pain in thousands of patients without any of the adverse side effects typically
associated with the powerful opioid pain medications that are often used to
treat pain in cancer patients. Calmare treatments have been especially
effective in treating CIPN which is often resistant to drug therapies.
'The existence of this unique code will simplify the process of submitting and
adjudicating insurance reimbursement claims for physicians and their patients,'
according to Jerry Stringham, President of Medical Technology Partners ('MTP')
of Rockville, Maryland. 'Category III codes are reserved for new and emerging
technologies, such as Competitive Technologies' Scrambler Therapy with the
Calmare medical device, and are intended to simplify the collection of data
regarding the use of new services and procedures. We look forward to working
with CTTC, its customers and insurers to make this therapy available and
affordable for those suffering from cancer pain, including CIPN.'
'This is a great day for cancer patients with pain and for CTTC. We have worked
with MTP for nearly two years to comply with the CTP requirements to execute a
reimbursement plan for Scrambler Therapy. Gaining universal coverage for
Scrambler Therapy to treat CIPN patients is an absolute priority of our
company,' stated Aris Despo, Executive Vice President of Competitive
Technologies. 'We continue to support the performance and publication of
clinical studies that not only demonstrate Scrambler Therapy's efficacy but
also its cost effectiveness and efficiency in treating patients with chronic
neuropathic pain, which we believe will lead to an expanding acceptance by the
medical community for this much needed procedure.'
About Competitive Technologies, Inc
Competitive Technologies is a global leader in developing and commercializing
innovative products and technologies. CTTC is multifaceted, providing
distribution, patent and technology transfer, sales and licensing services.
CTTC's staff is focused on the needs of customers and matching those
requirements with commercially viable products or technology solutions.
CTTC is the licensed worldwide distributor of the non-invasive Calmare(r) pain
therapy medical device, which incorporates the biophysical 'Scrambler Therapy(tm)'
technology developed in Italy by CTTC's client, Professor Giuseppe Marineo to
treat neuropathic pain, including cancer pain. The Calmare(r) device is currently
being manufactured for sale by CTTC's partner, GEOMC Co., Ltd. of Seoul, Korea.
For more information on the device, visit www.calmarett.com. Visit CTTC's
website: www.competitivetech.net.
Statements made about our future expectations are forward-looking statements
and subject to risks and uncertainties as described in our most recent Annual
Report on Form 10-K for the year ended July 31, 2010, filed with the SEC on
October 27, 2010, and other filings with the SEC, and are subject to change at
any time. Our actual results could differ materially from these forward-looking
statements. We undertake no obligation to update publicly any forward-looking
statement.
Direct inquiries to: Jean Wilczynski, IR Services, LLC (860.434.2465/
info(at)corpirservices.com)
* CPT is a registered trademark of the American Medical Association
CONTACT: Jean Wilczynski, IR Services, LLC
860.434.2465
info(at)corpirservices.com
News Source: NASDAQ OMX
01.07.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Competitive Technologies, Inc.
United States
Phone:
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Internet:
ISIN: US2045121074
WKN:
End of Announcement DGAP News-Service
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Datum: 01.07.2011 - 22:14 Uhr
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