I-Flow Corporation (NASDAQ:IFLO) has signed four new
contracts with insurance companies to provide reimbursement for the
use of ON-Q, a targeted post-surgical pain relief system, where
appropriate in ambulatory surgery centers (ASC) nationwide. Based on
the number of total lives covered by these contracts, which include
one signed with Blue Cross Blue Shield of North Dakota, ON-Q will be
available to 11 million more patients who may undergo outpatient
surgery so the tally of ON-Q covered lives in the United States now
numbers nearly 20 million. Surgeries in ambulatory surgery centers
represent about 50 percent of ON-Q's market opportunity.
"The ASC business is the fastest growing facet of the ON-Q franchise," explained Don Earhart, president and CEO, I-Flow Corporation. "We've seen a 10-fold increase in third-party billings in the last year and a similar upswing in payments, a statistic that is even more amazing considering that we just recently began establishing contracts with private insurance companies covering ON-Q."
Earhart explained that signing the contract with Blue Cross Blue Shield of North Dakota is especially significant because of this insurer's strength, prominence and visibility. He anticipates this news may accelerate and influence contracts with other health plans across the country.
ON-Q has proven through numerous clinical studies that it provides better patient care, and the therapy is labeled as significantly better than narcotics for post-surgical pain relief. ON-Q patients are typically more satisfied with their surgical experience because they are able to return to normal more quickly following their outpatient surgical procedures.
Separate from the contract with Blue Cross Blue Shield of North Dakota, the Company has seen a growing number of other Blue Cross Blue Shield (BCBS) groups in the United States change their position on ON-Q. These BCBS groups are now recognizing ON-Q as medically necessary when chosen by individual surgeons, whereas many considered ON-Q an investigational device in the past.
About ON-Q
ON-Q is now labeled to significantly reduce pain better than narcotics and to significantly reduce narcotics intake after surgery. ON-Q is a simple yet elegant device that consists of a small balloon pump that holds a local anesthetic (a pain-numbing medicine) and delivers it automatically through a tiny, specially designed tube (catheter) to provide more even distribution of local anesthetic over a wider area, as compared to other catheters, because of its patented wicking capabilities. ON-Q delivers narcotic-free pain relief for many surgeries, including: cesarean section, hysterectomy, knee replacement, mastectomy, cardio/vascular/thoracic, foot and ankle, and many cosmetic procedures.
ON-Q helps patients avoid the side effects of narcotics so they can get back to normal life faster. Currently, more than 44 studies on the use of ON-Q have been completed and published and more are underway to demonstrate the benefits of ON-Q in additional areas such as pediatrics, chronic pain, wound healing and reduced infection risk.
About I-Flow
I-Flow Corporation (www.iflo.com) designs, develops and markets technically advanced drug delivery systems that are redefining the standard of care by providing life-enhancing, cost-effective solutions for pain relief.
"Safe Harbor" Statement
Certain disclosures made by the Company in this press release and in other reports and statements released by the Company are and will be forward looking in nature, such as comments that express the Company's opinions about trends and factors that may impact future operating results. Disclosures that use words such as the Company "believes," "anticipates" or "expects" or use similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ from those expected, and readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to republish revised forward-looking statements to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures made by the Company in this release, which seek to advise interested parties of the risks and other factors that affect the Company's business, as well as in the Company's periodic reports on Forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. The risks affecting the Company's business include, among others: implementation of our direct sales strategy; dependence on our suppliers and distributors; reliance on the success of the home health care industry; our continuing compliance with applicable laws and regulations, such as the Food, Drug and Cosmetic Act, and the FDA's concurrence with our management's subjective judgment on compliance issues; the reimbursement system currently in place and future changes to that system; competition in the industry; economic and political conditions in foreign countries; currency exchange rates; inadequacy of booked reserves; technological changes; and product availability and acceptance. All forward-looking statements, whether made in this release or elsewhere, should be considered in context with the various disclosures made by the Company about its business.
"The ASC business is the fastest growing facet of the ON-Q franchise," explained Don Earhart, president and CEO, I-Flow Corporation. "We've seen a 10-fold increase in third-party billings in the last year and a similar upswing in payments, a statistic that is even more amazing considering that we just recently began establishing contracts with private insurance companies covering ON-Q."
Earhart explained that signing the contract with Blue Cross Blue Shield of North Dakota is especially significant because of this insurer's strength, prominence and visibility. He anticipates this news may accelerate and influence contracts with other health plans across the country.
ON-Q has proven through numerous clinical studies that it provides better patient care, and the therapy is labeled as significantly better than narcotics for post-surgical pain relief. ON-Q patients are typically more satisfied with their surgical experience because they are able to return to normal more quickly following their outpatient surgical procedures.
Separate from the contract with Blue Cross Blue Shield of North Dakota, the Company has seen a growing number of other Blue Cross Blue Shield (BCBS) groups in the United States change their position on ON-Q. These BCBS groups are now recognizing ON-Q as medically necessary when chosen by individual surgeons, whereas many considered ON-Q an investigational device in the past.
About ON-Q
ON-Q is now labeled to significantly reduce pain better than narcotics and to significantly reduce narcotics intake after surgery. ON-Q is a simple yet elegant device that consists of a small balloon pump that holds a local anesthetic (a pain-numbing medicine) and delivers it automatically through a tiny, specially designed tube (catheter) to provide more even distribution of local anesthetic over a wider area, as compared to other catheters, because of its patented wicking capabilities. ON-Q delivers narcotic-free pain relief for many surgeries, including: cesarean section, hysterectomy, knee replacement, mastectomy, cardio/vascular/thoracic, foot and ankle, and many cosmetic procedures.
ON-Q helps patients avoid the side effects of narcotics so they can get back to normal life faster. Currently, more than 44 studies on the use of ON-Q have been completed and published and more are underway to demonstrate the benefits of ON-Q in additional areas such as pediatrics, chronic pain, wound healing and reduced infection risk.
About I-Flow
I-Flow Corporation (www.iflo.com) designs, develops and markets technically advanced drug delivery systems that are redefining the standard of care by providing life-enhancing, cost-effective solutions for pain relief.
"Safe Harbor" Statement
Certain disclosures made by the Company in this press release and in other reports and statements released by the Company are and will be forward looking in nature, such as comments that express the Company's opinions about trends and factors that may impact future operating results. Disclosures that use words such as the Company "believes," "anticipates" or "expects" or use similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ from those expected, and readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to republish revised forward-looking statements to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures made by the Company in this release, which seek to advise interested parties of the risks and other factors that affect the Company's business, as well as in the Company's periodic reports on Forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. The risks affecting the Company's business include, among others: implementation of our direct sales strategy; dependence on our suppliers and distributors; reliance on the success of the home health care industry; our continuing compliance with applicable laws and regulations, such as the Food, Drug and Cosmetic Act, and the FDA's concurrence with our management's subjective judgment on compliance issues; the reimbursement system currently in place and future changes to that system; competition in the industry; economic and political conditions in foreign countries; currency exchange rates; inadequacy of booked reserves; technological changes; and product availability and acceptance. All forward-looking statements, whether made in this release or elsewhere, should be considered in context with the various disclosures made by the Company about its business.
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