iVOW, Inc. Comments on Center for Medicare & Medicaid Services' National Coverage Determination for Bariatric Surgery.SAN DIEGO -- iVOW, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IVOW), a provider of disease management services for the treatment of chronic and morbid obesity, today commented on the final National Coverage Determination decision issued by the Center for Medicare and Medicaid Medicare and Medicaid U.S. government programs in effect since 1966. Medicare covers most people 65 or older and those with long-term disabilities. Part A, a hospital insurance plan, also pays for home health visits and hospice care. Services (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. ) which states bariatric surgery will be covered for all Medicare beneficiaries. The memorandum, issued February 21, 2006, states: --Medicare's national coverage of bariatric surgery will be expanded for all Medicare beneficiaries. For seniors over age 65, who have experienced high complication rates in some settings, Medicare will cover the procedure only in high-volume centers that achieve low mortality rates and are certified by the American College of Surgeons This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. and the American Society for Bariatric Surgery The American Society for Bariatric Surgery (ASBS) is a United States medical organization founded in 1983 with the mission of advancing bariatic surgery. External links
--The list of nationally-covered procedures now includes open and laparoscopic Laparoscopic A minimally-invasive surgical or diagnostic procedure that uses a flexible endoscope (laparoscope) to view and operate on structures in the abdomen. Mentioned in: Obstetrical Emergencies Roux-en-Y gastric bypass Roux-en-Y gastric bypass n. A Y-shaped surgical connection that divides the small intestine and connects one end to the stomach, bile duct, or other structure and connects the opposite end to the small intestine at a point below the first connection. , laparoscopic adjustable gastric banding, and open and laparoscopic biliopancreatic diversion with duodenal switch. Prior to yesterday's decision, CMS' only nationally-covered bariatric surgery procedure was gastric bypass surgery Gastric bypass procedures (GBP) are any of a group of similar operations used to treat morbid obesity—the severe accumulation of excess weight as fatty tissue—and the health problems (comorbidities) it causes. . "We are very pleased with CMS' decision to cover bariatric Bariatric Pertaining to the study, prevention, or treatment of overweight. Mentioned in: Malnutrition services for all Medicare beneficiaries via a comprehensive programmatic approach. We believe this coverage will not only save costs which are normally associated with health problems caused by obesity but will also save lives and alleviate substantial disability and suffering," stated Michael Owens, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of iVOW. "We see this CMS ruling as a forerunner of broader commercial payor coverage of these procedures and look forward to demonstrating to payors, providers and employers our enhanced value proposition consequent to this ruling. We believe this is a crucial step in healthcare organizations and insurers firmly and definitively embracing the positive impact of a comprehensive, programmatic approach to the treatment of chronic and morbid obesity. iVOW has consistently articulated the value of this approach and our business model is significantly predicated upon providing collaborative outsourced services to our clients to facilitate the ease of operation and quality of such programs." About iVOW, Inc. Our business is focused exclusively on the disease state management of chronic and morbid obesity. We provide program management, healthcare services, operational consulting and clinical training services to employers, payors, physicians and hospitals involved in the medical and surgical treatment of the chronic a morbidly obese. We also provide specialized vitamins to patients who have undergone obesity surgery. Our corporate website is www.ivow.com; information on our nutritional supplements for post-surgical gastric bypass patients may be found on www.vistavitamins.com. iVOW is the new corporate name of Vista Medical Technologies, Inc. iVOW is traded on the NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. [1] The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for under the stock symbol IVOW. Forward Looking Statements This news release may contain forward-looking statements concerning the business and products of iVOW, Inc. Actual results may differ materially depending on a number of risk factors, including, but not limited to the following: the Company's ability to raise additional funds to support its operations; the Company's ability to penetrate the market for obesity surgery management services; the final decision by CMS on coverage for bariatric surgery, the Company's ability to raise additional funds to support its business plan and the Company's ability to successfully integrate the business and operations of Sound Health Solutions, Inc. Other risks inherent in our business are described in the Company's Securities and Exchange Commission filings, including its Quarterly Report on Form 10-QSB for the nine-month period ended September 30, 2005. The Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release. |
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