Wound Management Technologies Launches Risk-Sharing Program to Reimburse Hospitals for Certain SSI Costs to Highlight Effectiveness of CellerateRX(r) Surgical - CBS 3 Springfield - WSHM

Wound Management Technologies Launches Risk-Sharing Program to Reimburse Hospitals for Certain SSI Costs to Highlight Effectiveness of CellerateRX(r) Surgical

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Addison, TEXAS / ACCESSWIRE / August 19, 2014 / Wound Management Technologies, Inc. (OTC QB: WNDM), an emerging commercial stage company with its primary product, a patented-protected and FDA-cleared collagen product, CellerateRX(r), today announced that its Wound Care Innovations subsidiary has launched the CellerateRX(r) Surgical Assurance Program, a risk-sharing program to help hospitals and surgical centers lower the uncompensated care costs associated with readmissions due to surgical site infections (SSIs).

The program is offered to hospitals and surgical centers. Under the terms of the program, they may be reimbursed for certain unreimbursed costs for SSI events that occur in surgeries where CellerateRX(r) has been utilized. “The introduction of the CellerateRX(r) Surgical Assurance Program is a reflection of our commitment to patients as well as to our customers. With the assistance of strategic partners, we created this patent-pending program to assist our clients in addressing the costs associated with high risk patients and readmission costs resulting from surgical site infections. The clinical efficacy of the CellerateRX(r) surgical powder combined with the financial support of the CellerateRX(r) Surgical Assurance Program establishes a compelling value proposition to every hospital and surgical center,” said Deborah Hutchinson, Wound Management’s President. “CellerateRX(r) supports wound closure and is effective in high risk patients. This should in turn decrease a patient’s risk of infection, length of hospital stay, and re-hospitalization occurrences, while also lowering the cost burden to the hospital.”

“We are pleased to develop the CellerateRX(r) Surgical Assurance Program in concert with Wound Management. We believe this will enhance the patient recovery clinically and provide a financial safety net to hospitals and surgical centers. The industry should be well served through the creation of this innovative and unique product for Wound Management and its national healthcare clients,” commented Terry Chesser, President of U.S. Advisors.
 
About Wound Management Technologies
Wound Management Technologies, Inc. is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management’s primary focus is the distribution of its Wound Care Innovations subsidiary’s unique, patented collagen product line, CellerateRX(r) which is FDA-cleared for all wound types except 3rd degree burns. The wound care products are reimbursable under Medicare Part B and the surgical products are reimbursed as part of a procedural billing. Wound Management has other advanced biotech products in development including a patented resorbable bone hemostat line that is in late stages of development. For more information visit www.wmgtech.com.

Information about Forward-Looking Statements


The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products in development and any other statements not constituting historical facts are “forward-looking statements,” within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company’s actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company’s operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company’s SEC filings, which could cause the company’s actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.

Investor Contacts:

KCSA Strategic Communications
Todd Fromer / Garth Russell
+ 212-682-6300
Tfromer@kcsa.com / Grussell@kcsa.com

 

SOURCE: Wound Management Technologies, Inc. 

ReleaseID: 419269

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