Dexcom Glucose Monitoring System classified as ‘therapeutic’ by CMS
SAN DIEGO — The U.S. Department of Health and Human Services Centers for Medicaid and Medicare Services classified Dexcom’s G5 Mobile Continuous Glucose Monitoring system as “therapeutic,” meaning treatment decisions can be made using the device.
According to Dexcom, it is the only continuous glucose monitoring system that falls under this designation.
“This landmark CMS Ruling will make available the most important technology in diabetes management to the Medicare population,” said Kevin Sayer, Dexcom president and CEO. “We are pleased with this important step forward and we look forward to working with Medicare on implementing coverage in the coming months to ensure beneficiaries have access to this life-saving device.”
This classification comes on the heels of the U.S. Food and Drug Administration approving Dexcom’s system on Dec. 22.
The G5 Mobile Continuous Glucose Monitoring System uses a small sensor wire inserted just below the skin that continuously measures and monitors glucose levels. Real-time results are sent wirelessly every five minutes to a dedicated receiver and a compatible mobile device running a mobile app.
Dexcom’s stock rocketed higher by the tune of 26% to $85 per share in Friday trading upon release of the news.
According to the U.S. Centers for Disease Control and Prevention, more than 29 million people in the U.S. currently have diabetes.