CorMedix Inc. Announces CMS Revision to NTAP Reimbursement of DefenCath

BERKELEY HEIGHTS, N.J., Nov. 07, 2022 (GLOBE NEWSWIRE) — CorMedix Inc. (Nasdaq:CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of life-threatening conditions and diseases, today announced that the Center for Medicare & Medicaid Services (CMS) has published in the Federal Register a correction to the Hospital Inpatient Prospective Payment Systems for Acute Care Hospitals New Technology Add on Payment (NTAP) reimbursement of DefenCath, increasing the maximum reimbursement per average hospital visit from $4,387.50 to $14,259.38. The original NTAP calculation by CMS was based upon 3 vials of DefenCath being utilized for catheter lock during 3 sessions of dialysis. The revised NTAP reimbursement is based upon a longer duration of hospital stay in which an estimated average of 9.75 vials of DefenCath would be utilized. The NTAP reimbursement for DefenCath is calculated by CMS as 75% of the expected Wholesale Acquisition Cost (WAC) of the product, and is conditioned upon final approval of the DefenCath New Drug Application by the Food and Drug Administration (FDA) prior to July 1^st of 2023. The company also announced today the recent submission of a duplicate NTAP application to CMS, intended to take effect should final approval of the DefenCath NDA by FDA occur after July 1^st of 2023.  

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