LITTLETON, Colo., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Vivos Therapeutics, Inc. ("Vivos" or the "Company") (NASDAQ: VVOS), a medical technology company specializing in the development and commercialization of highly effective proprietary treatments for sleep-related breathing disorders, including obstructive sleep apnea (OSA) in adults and children, today announced the American Medical Association (AMA) has issued new CPT® medical codes applicable to all Vivos CARE oral medical devices, which will become effective January 1, 2025.
Vivos Chairman and CEO, Kirk Huntsman, stated, "This is exciting news for OSA patients and medical providers who treat sleep breathing disorders. Our CARE oral medical devices are the only ones cleared by the U.S. Food and Drug Administration for the treatment of moderate to severe OSA, and these new medical codes will now facilitate coverage and reimbursement by commercial medical insurance payers. From Vivos' perspective, we believe this will enable a larger number of patients from most demographics to access our breakthrough, proprietary airway remodeling technology and more effectively treat their OSA. This development comes at an opportune moment for Vivos as our recent regulatory approvals, coupled with our new alliance-based marketing and distribution model and now these new codes put Vivos in an improved position to drive revenue growth."
AMA Introduces 420 Updates in CPT® 2025, Including New Codes for Vivos
In a recent press release, the AMA explained, "The emergence of medical innovations, new technologies and cutting-edge procedures spurred most of the annual changes presented in the release of the Current Procedural Terminology (CPT®) 2025, the nation's uniform data-sharing code set for medical procedures and services. There are 420 overall updates in the CPT® 2025 code set, including 270 new codes, 112 deletions, and 38 revisions."
"The CPT® code set is the foundation for the efficient and effective exchange of standardized information in a data-driven health system…with the goal of delivering better patient care, improved outcomes and lower costs," said AMA President Bruce A, Scott, M.D. "The latest updates to the CPT® code set reflect advancements in contemporary clinical practice."
Mr. Huntsman concluded, "This AMA approval represents our latest regulatory and reimbursement milestone, following another important approval Vivos received for Medicare coverage just a few months ago. As part of our mission, Vivos has worked to make its innovative OSA treatment protocols available to more people so they can improve their lives. With these new CPT® codes, we are taking a major step towards making OSA treatment more accessible and affordable for patients nationwide, including children ages 6 to 17. This approval highlights our commitment to ensuring more people can receive the care they need while receiving greater support from their healthcare insurance plans."
About Vivos Therapeutics, Inc.
Vivos Therapeutics, Inc. (NASDAQ: VVOS) is a medical technology company focused on developing and commercializing innovative diagnostic and treatment methods for patients suffering from breathing and sleep issues arising from certain dentofacial abnormalities such as obstructive sleep apnea (OSA) and snoring in adults and children. The Vivos Method represents the first clinically effective nonsurgical, noninvasive, nonpharmaceutical, and cost-effective solution for treating mild to severe OSA in adults and moderate to severe OSA in children. It has proven effective in over 45,000 patients treated worldwide by more than 2,000 trained dentists.
The Vivos Method includes treatment regimens that employ proprietary CARE appliance therapy and other modalities that alter the size, shape, and position of the jaw and soft tissues that comprise a patient's upper airway and/or palate. The Vivos Method opens airway space and may significantly reduce symptoms and conditions associated with mild-to-severe OSA in adults and moderate-to-severe OSA in children ages 6 to 17, such as lowering Apnea Hypopnea Index scores. Vivos also markets and distributes SleepImage diagnostic technology under its VivoScore program for home sleep testing in adults and children. The Vivos Integrated Practice (VIP) program offers dentists training and other value-added services in connection with using The Vivos Method. Vivos also employs a marketing and distribution model where it collaborates with sleep-treatment providers to offer patients OSA treatment options and help promote sales of its appliances. For more information, visit www.vivos.com.
Cautionary Note Regarding Forward-Looking Statements
This press release and statements of the Company's management made in connection therewith contain "forward-looking statements" (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events, including statements related to the acceptance and reimbursement rates of the new CPT codes. Words such as "may", "should", "expects", "projects," "intends", "plans", "believes", "anticipates", "hopes", "estimates", "goal" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve significant known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond Vivos' control. Actual results (including the results of the CPT Code designations described herein on Vivos' future revenues and results of operations or the anticipated benefits of the Company's new marketing and distribution model) may differ materially and adversely from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (i) the risk that Vivos may be unable to implement revenue, sales and marketing strategies that increase revenues, (ii) the risk that some patients may not achieve the desired results from using Vivos' products, (iii) risks associated with regulatory scrutiny of and adverse publicity in the sleep apnea treatment sector; (iv) the risk that Vivos may be unable to secure additional financings on reasonable terms when needed, if at all or maintain its Nasdaq listing and (v) other risk factors described in Vivos' filings with the Securities and Exchange Commission ("SEC"). Vivos' filings can be obtained free of charge on the SEC's website at www.sec.gov. Except to the extent required by law, Vivos expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Vivos' expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
Vivos Investor Relations Contact:
Bradford Amman, CFO
investors@vivoslife.com
