Omnipod Now Available to Medicare Part D Patients
BILLERICA, Mass. — Insulet Corporation who makes the Omnipod® pump, a tubeless insulin delivery device, has just been approved by the Centers for Medicare and Medicaid Services (CMS) to be available under the Medicare Part D (prescription drug) program.
Medicare Prescription Drug Plan (Part D), sometimes called “PDPs,” are plans run by an insurance company or other private company approved by Medicare that add prescription drug coverage if you opted out of coverage when you were first eligible. These plans can be added to the following: Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA).
George Grunberger, MD, FACP, FACE and Chairman, Grunberger Diabetes Institute, added, “Thanks to the collaborative efforts of both the diabetes community and Insulet, Medicare beneficiaries will now be able to continue on Omnipod after they reach the age of 65.”
While it makes the advanced medical technology available some Medicare patients, it also helps pave the way for Medicaid coverage on a state-level, (many state-run Medicaid programs follow CMS prescription drug guidance to determine coverage). In turn, this could ultimately provide better diabetes management tools to lower-income families. Should the insulin pump receive nationwide approval, Insulate estimates that their device would be available to approximately 450,000 Americans with Type 1 diabetes.
Insulate CEO and Chairman, Patrick Sullivan, said, “Gaining Medicare coverage of our Omnipod System was one of our top priorities, since individuals living with diabetes deserve the right to choose the product that will best help them manage their diabetes. We are thrilled more people will be able to choose our innovative and differentiated Omnipod technology, which delivers continuous insulin without the use of tubes and eliminates the stress and anxiety of multiple daily injections.”
Shacey Petrovic, President and COO adds, “With a low up-front cost and unique, disposable three-day wear, the pharmacy channel is a natural fit for Omnipod and will provide Omnipod users an even better customer experience with broader and easier access to our unique platform through their pharmacy benefits.”
In the wake of the recent FreeStyle Libre Flash GMS Medicare approval, it appears that nation-wide approval is on the horizon, making it another device that aids in better management of a complicated and challenging chronic condition.
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD), headquartered in Massachusetts, is an innovative medical device company dedicated to making the lives of people with diabetes and other conditions easier through the use of its Omnipod product platform. The Omnipod Insulin Management System provides a unique alternative to traditional insulin delivery methods. With its simple, wearable design, the disposable Pod provides up to three days of non-stop insulin delivery, without the need to see or handle a needle. Insulet also leverages the unique design of its Pod, by tailoring its Omnipod technology platform for the delivery of non-insulin subcutaneous drugs across multiple therapeutic areas. Founded in 2000, more than 100,000 users across the globe rely on Insulet’s Omnipod Insulin Management System to bring simplicity and freedom to their lives. For more information, please visit: www.insulet.com, www.myomnipod.com and www.omnipodeurope.com.*
*Starting July 1, 2018, Insulet will assume direct distribution of its Omnipod Insulin Management System in Europe, including sales, marketing, training and customer support activities. This will allow Insulet to be closer to the diabetes community and Insulin Management System (Omnipod System), today announced that identify opportunities to support European customer needs over the long-term, as it already does in the United States and Canada.