ALACHUA, Fla. (March 24, 2010) – RTI Biologics Inc. (RTI) (Nasdaq: RTIX), the Florida-based processor of orthopedic, dental, hernia and other biologic implants, has entered into an agreement with Reimbursement Principles Inc. (RPI), a full service consulting group specializing in medical device reimbursement. The agreement between RTI Biologics and RPI includes the introduction of a toll-free hotline designed to assist hospitals and physician customers with day-to-day reimbursement questions as well as a Web-based service for the submission of requests.
“The launch of the hotline with RPI, a pre-eminent expert in the field of reimbursement, demonstrates RTI’s commitment to supporting our customers’ needs and provides a service that is very important given the complex reimbursement guidelines that exist today,” said Roger W. Rose, executive vice president forRTI.
The reimbursement hotline, staffed by qualified reimbursement specialists, can provide guidance to questions such as:
• How should this procedure be coded?
• How do we preauthorize this procedure with private payers?
• Does Medicare require preauthorization?
• What do we do in the event of claims denial and/or low payment?
• What sort of documentation should be submitted with our claim?
While RTI cannot instruct surgeons on coding procedures and reimbursement, its representatives can provide product information to assist the facility in coding correctly and, where required, obtaining the appropriate approvals. In addition, RTI engaged RPI to develop a reimbursement guide, which is now complete and available to customers as a guide for coding procedures and services involving its sports medicine line of implants.
RPI is an independent contractor and is not an affiliate, agent or joint venturer of RTI Biologics. For more information, contact your local RTI Biologics representative or call (386) 418-8888.
About RTI Biologics Inc
RTI Biologics Inc. is a leading provider of sterile biological implants for surgeries around the world with a commitment to advancing science, safety and innovation. RTI prepares human donated tissue and bovine tissue for transplantation through extensive testing and screening, precision shaping and proprietary, validated sterilization processes. These allograft and xenograft implants are used in orthopedic, dental, hernia and other specialty surgeries.
RTI’s innovations continuously raise the bar of science and safety for biologics – from being the first company to offer precision-tooled bone implants and assembled technology to maximize each gift of donation, to inventing validated sterilization processes that include viral inactivation steps. Two such processes – the BioCleanse® Tissue Sterilization Process and the Tutoplast® Tissue Sterilization Process– have a combined record of more than two million implants distributed with zero incidence of allograft-associated infection. These processes have been validated by tissue type to penetrate tissue, inactivate or remove viruses and a wide range of organisms using worst-case testing and maintain tissue biocompatibility and functionality.
RTI’s worldwide corporate headquarters are located in Alachua, Fla., with international locations in Neunkirchen, Germany, and Aix-en-Provence, France. The company is accredited in the U.S. by the American Association of Tissue Banks.
Forward Looking Statement
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s current expectations, estimates and projections about our industry, our management’s beliefs and certain assumptions made by our management. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, except for historical information, any statements made in this communication about anticipated financial results, growth rates, new product introductions, future operational improvements and results or regulatory approvals or changes to agreements with distributors also are forward-looking statements. These statements are not guarantees of future performance and are subject to risks and uncertainties, including the risks described in public filings with the U.S. Securities and Exchange Commission (SEC). Our actual results may differ materially from the anticipated results reflected in these forward-looking statements. Copies of the company’s SEC filings may be obtained by contacting the company or the SEC or by visiting RTI’s Web site at http://www.rtix.com or the SEC’s Web site at http://www.sec.gov.
