A client approached Blue Pearl hoping to expand the sales of his medical device. The FDA had already approved the device and there was a CPT code associated with it. However, sales had been stagnant. The client wanted to increase his market share without compromising the design of the device.
Blue Pearl did extensive research and analysis on his device and all possible applications. We discovered two things that had gone unnoticed by the device maker. First, his device had a small component that differentiated it from similar devices in its field, meaning he could apply for certain HCPCs. Second, there were more procedures his device could be used (and coded) for than were currently being taken advantage of. Our client was so focused on his expertise and the device’s application within that field that he failed to see alternative uses.
Using our team of experienced analysts, we sifted through databases and tapped into resources to find appropriate codes that also maximized the reimbursement potential. After guiding him through the application process, we helped him create a marketing plan to highlight the benefits of his device—including reimbursement, unique capabilities, and a quicker return on investment. Now, a year and a half later, he’s increased sales by 53% as well as the reach of his device. Most importantly, he’s been able to focus on creating new devices—and now knows how to develop a reimbursement strategy for each one.