ARCH THERAPEUTICS, INC. Arch Therapeutics, Inc. announced that it recently submitted an application to the Centers for Medicare & Medicaid Services (“CMS”) for a unique HCPCS billing code (the “HCPCS Code”) for its AC5® Advanced Wound System (“AC5”). If approved, the HCPCS Code will enable providers to bill AC5 with specificity in doctors' offices, wound care clinics, hospital outpatient departments and ambulatory surgical centers. The Company intends to engage with payors to advocate for clinically appropriate AC5 coverage and payment policies.
If successful, these activities would promote appropriate patient access to AC5 and build on the continued progress within the Company's current distribution network, supported by Lovell Government Services and Centurion Therapeutics. In the interim, while there is no guarantee of coverage or payment, the 2022 CMS rule establishing principles for billing synthetic skin substitutes in physician office settings may facilitate near term sales opportunities for the Company's AC5® Advanced Wound System.
