STRATA Skin Sciences Announces the Introduction of Home by XTRAC™
January 12, 2021 at 01:00 pm
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STRATA Skin Sciences, Inc. announced the introduction of a new business, branded “Home by XTRAC™”. Provides an at-home, insurance-reimbursed treatment option for patients with certain skin diseases that do not qualify for in-office treatments Leverages Company’s existing direct-to-consumer (DTC) advertising and leads Utilizes in-house Company resources and adds no significant cost
Commenced limited initial shipments and realized insurance payments in 2020
Anticipate a positive impact on revenue and profitability in 2021: STRATA’s FDA-approved XTRAC excimer laser delivers a highly targeted therapeutic beam of UVB light to treat psoriasis, vitiligo and atopic dermatitis - skin diseases that impact more than 31 million people in the U.S. today. XTRAC has been shown in more than 150 peer-reviewed clinical studies to be the safest, most effective treatment on the market today. Quick and virtually painless without the side effects of other treatment options, it has been used more than 20 million times worldwide.
STRATA has partnered with an existing phototherapy device manufacturer to provide its newly branded Home by XTRAC™ solution. Further, the Company is using its in-house call center, reimbursement team, and its access to providers to fulfill and support a comprehensive patient journey that includes:
Identifying patients with needs (where there is no local provider; or out-of-pocket costs are an issue);
Referring patients to medical providers for telehealth visits;
When appropriate, obtaining a prescription for Home by XTRAC™ solution;
Confirming DME (Durable Medical Equipment) insurance benefits;
Delivering “Home by XTRAC™” to patients, providing training; and
Collecting payment from insurance payers.
The anticipated per patient reimbursement, dependent on the patients’ condition, insurance coverage and the type of device for these DME products ranges from $1,316 to $5,163 per device per patient based upon the 2020 CMS rate schedule and is covered by most major insurance carriers.
STRATA Skin Sciences, Inc. is a medical technology company in dermatology. The Company is engaged in developing, commercializing and marketing products for the treatment of dermatologic conditions. The Company operates through two segments: Dermatology Recurring Procedures and Dermatology Procedures Equipment. The Companyâs products include the XTRAC and Pharos excimer lasers and VTRAC lamp systems utilized in the treatment of psoriasis, vitiligo and various other skin conditions. Its products also include the TheraClear Acne Therapy System utilized in the treatment of mild to moderate inflammatory, comedonal and pustular acne. The XTRAC and Pharos excimer laser technology emits highly concentrated ultraviolet (UV) light targeted primarily towards autoimmune dermatological skin disorders, such as psoriasis, vitiligo, atopic dermatitis, and eczema, among others. VTRAC is a UV light lamp system that works in much the same way as the XTRAC.