Paxman announced its first signed contract under the new business model with a comprehensive healthcare system in New Jersey and the launch of enhanced Paxman HUB services. This enhanced agreement is the first to be signed under Paxman's new business model in the US. The New
Jersey healthcare system will now purchase Paxman Scalp Cooling Caps through Paxman's distribution partner and will file claims with health insurance companies on behalf of their patients for provision of Paxman scalp cooling treatment. The two new CPT® codes are utilized for the initial fitting and calibration of the cap, as well as ongoing cooling treatment administered before, during and after chemotherapy as follows: 0662T: Scalp cooling mechanical; initial measurement and calibration of cap. This code is billed when the cap is fitted to the patient and may only be utilized one time per patient. 0663T: Placement of device, monitoring, and removal of device. This code is billed each time the patient receives scalp cooling during chemotherapy and is to be used in conjunction with chemotherapy administration codes 96409, 96411, 96413, 96415, 96416, and 96417. The first healthcare system to contract to Paxman's new business model is the largest and most comprehensive in the state of New Jersey and is leading the way in patient access for scalp cooling, having collaborated with Paxman since 2018 to offer patients Paxman Scalp Cooling treatment to manage the side effect of chemotherapy-induced alopecia. In this time, cancer patients using Paxman Scalp Cooling have benefitted from an improved overall treatment experience at a number of the Health System's locations under the self-pay business model.