American Medical Systems Comments on Final Medicare Rate Codes.Business Editors/Health/Medical Writers MINNEAPOLIS--(BUSINESS WIRE)--Oct. 31, 2003 American Medical Systems Holdings Inc. (Nasdaq:AMMD AMMD Aerodynamic Mass Median Diameter ) today noted that the Centers for Medicare and Medicaid Services The Centers for Medicare and Medicaid Services (CMS), previously known as the Health Care Financing Administration (HCFA), is a federal agency within the United States Department of Health and Human Services (DHHS) that administers the Medicare program and (CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. ) has published its final rule of changes to the 2004 hospital Outpatient Prospective Payment System (OPPS) which would bring payments for prosthetic urology procedures more in line with hospital costs. CMS accepted the APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. Advisory Panel's recommendation to create two Ambulatory Payment Classifications (APCs) for prosthetic urology procedures based on resource intensity and complexity. As a result of the reconfiguration and the use of more updated claims data, the payment rates for procedures using the company's inflatable prostheses Prostheses A synthetic object that resembles a missing anatomical part. Mentioned in: Microphthalmia and Anophthalmia for erectile restoration will increase 27 percent. Similarly, payments for procedures using the company's artificial urinary sphincter will increase 17 percent. Sales of inflatable prostheses in the United States for erectile restoration and continence are approximately 50 percent of American Medical Systems' consolidated sales, and the company believes that about 25 percent of these procedures are paid for through the OPPS. The company does not know what effect, if any, the changes will have on sales of its products. More information on proposed OPPS changes are on the CMS website: www.cms.hhs.gov/providers/hopps About American Medical Systems American Medical Systems, headquartered in Minnetonka, Minnesota, is a leader in medical devices and procedures to treat erectile dysfunction (ED); other men's health problems (including incontinence, BPH BPH abbr. benign prostatic hyperplasia BPH Benign prostatic hypertrophy, a very common noncancerous cause of prostatic enlargement in older men. , and stricture); and women's health problems including, menorrhagia menorrhagia /men·or·rha·gia/ (men?ah-ra´jah) hypermenorrhea. men·or·rha·gia n. See hypermenorrhea. , incontinence, and other pelvic floor defects. Although not often life-threatening, these disorders can significantly diminish one's quality of life and profoundly affect social relationships. In recent years, the number of people seeking treatment has increased markedly as a result of longer life expectancy, higher quality-of-life expectations, and greater awareness of new treatment alternatives. Physicians use American Medical Systems' products to reduce or eliminate the incapacitating effects of these diseases, often through minimally invasive surgery minimally invasive surgery Laparoscopic surgery, see there. See Laparoscopic cholecystectomy. . The company believes its products were used to treat over 90,000 patients in 54 countries during the last 12 months. More information about the company, its products, and certain risks related to reimbursement actions may be found in the company's most recent Annual Report on Form 10K and its other SEC filings. The company's website is: www.AmericanMedicalSystems.com. |
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