July 14, 2020
SpeechVive receives new Level II HCPCS from the Centers for Medicare and Medicaid Services
WEST LAFAYETTE, Ind. – SpeechVive Inc. announced Tuesday (July 14) that the Centers for Medicare & Medicaid Services (CMS) has issued a new Level II Healthcare Common Procedure Coding System code, which will be effective Oct.1 for the SpeechVive device.
“We are pleased that CMS has issued a new K-code for the SpeechVive device, K1009,” said Steve Mogensen, president and CEO of SpeechVive. The recommended K-code will provide suppliers with a specific code for the SpeechVive device, which will streamline the processing of claims with government and commercial insurers. This is a significant milestone, and we look forward to continuing our work and discussions with CMS regarding coding considerations for SpeechVive.”
SpeechVive is a Purdue University-affiliated medical device company dedicated to treating the speech conditions of over 1.5 million people in the U.S. who suffer from chronic neurological diseases, such as Parkinson’s disease.
SpeechVive is an Indiana startup company, based on the research of Jessica Huber, a professor in Purdue’s Department of Speech, Language, and Hearing Sciences. The company has developed a wearable medical device to improve the speech clarity of people with Parkinson’s.
“We would like to thank the many dedicated speech language pathologists and neurologists for working with us in this collaborative effort,” Mogensen said. “Their support allows SpeechVive to make the SpeechVive device available to and improve the quality of life for those with speech conditions due to Parkinson’s disease.”
SpeechVive is a behind the ear smart device which helps people with Parkinson’s disease speak more loudly and communicate more effectively. The SpeechVive device is based on the research of inventor and co-founder Jessica Huber at Purdue University. Clinical data over four years demonstrated SpeechVive to be effective in improving volume, articulation and speech rate in 90% of the people participating in two multi-site clinical trials. It is estimated that 1.5 million people in the U.S. and 10 million people worldwide suffer from Parkinson’s disease. To learn more about SpeechVive, visit www.speechvive.com.
About Purdue Research Foundation
The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue's intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park, Purdue Technology Centers and University Development Office. In 2020, the IPWatchdog Institute ranked Purdue third nationally in startup creation and in the top 20 for patents. The foundation received the 2019 Innovation and Economic Prosperity Universities Award for Place from the Association of Public and Land-grant Universities. For more information on licensing a Purdue innovation, contact the Purdue Office of Technology Commercialization at firstname.lastname@example.org. For more information about involvement and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at email@example.com.
Purdue Research Foundation Contact: Chris Adam, firstname.lastname@example.org
Source: Steve Mogensen, email@example.com
Photo Caption: SpeechVive Inc. announced Tuesday (July 14) that the Centers for Medicare and Medicaid Services has issued a new Level II Healthcare Common Procedure Coding System code, which will be effective Oct. 1 for the SpeechVive device. (Image provided) A publication-quality photo is available at https://www.purdue.edu/uns/images/2020/huber-medicare.jpg
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