WEST CHESTER, PA — Verrica Pharmaceuticals Inc. (Nasdaq: VRCA) has achieved a significant milestone in its commercial strategy. The Centers for Medicare & Medicaid Services (CMS) has issued a permanent J-Code (J7354) for YCANTH™, the only FDA-approved treatment for molluscum contagiosum. The code will be fully published under the Healthcare Common Procedure Coding System (HCPCS) from April 1, 2024.
J-Codes, part of the HCPCS Level II coding system, are widely used to designate non-orally administered drugs and other medical devices. They play a vital role in determining how managed care organizations reimburse medical providers for their products and services. By standardizing the reporting of medical services, J-codes reduce billing errors, facilitate rebates, and allow companies to receive pass-through payments through government-sponsored healthcare plans.
The introduction of a permanent J-Code for YCANTH™ is expected to significantly streamline the billing and reimbursement process for this treatment. “By securing a permanent J-Code for YCANTH, we have successfully reached a critical milestone in our commercial strategy that we expect will help us accelerate YCANTH utilization among the U.S. Medicaid and Medicare patient populations,” said Ted White, President and Chief Executive Officer of Verrica Pharmaceuticals.
The decision by the CMS is likely to have a far-reaching impact on patients suffering from molluscum contagiosum, a common and highly contagious skin disease. With the new J-Code, access to YCANTH™ will be significantly improved for Medicare and Medicaid patients, offering them an effective solution for this condition.
As the company continues to navigate the complex healthcare landscape, the issuance of a permanent J-Code for YCANTH™ represents a significant step forward in its mission to improve patient care.
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