Otonomy's (OTIC) OTIPRIO Receives CMS Assignment of J Code

November 2, 2016 7:36 AM EDT
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Otonomy, Inc. (Nasdaq: OTIC) announced that the Centers for Medicare and Medicaid Services (CMS) established a unique J code for OTIPRIO (ciprofloxacin otic suspension). The code, J7342, will become effective January 1, 2017. This new code will replace the existing C code (C9479) while retaining transitional pass-through payment status.

“We welcome CMS’s decision to assign a J code for OTIPRIO which will become the permanent billing code for OTIPRIO in all settings including the hospital outpatient department, ambulatory surgery center, and physician office,” said David A. Weber, Ph.D., president and CEO of Otonomy. “Assignment of the J code will simplify billing for OTIPRIO and address the requirements of certain payors who require a J code for reimbursement. Furthermore, obtaining a J code now will support reimbursement in the physician office setting which is relevant for ear tube surgeries and the predominant site of care for OTIPRIO's potential label expansion indications."

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