Asheville, NC – August 4, 2020 – Avadim Health, Inc. (“Avadim”), a healthcare and wellness company, today reports that it has now confirmed HSA and FSA eligibility for its consumer health brands, Theraworx Relief for Muscle Cramps and Spasms, Theraworx Relief for Joint Discomfort and Inflammation and the Theraworx Protect U-PAK. The Relief Brands are sold in more than 50,000 pharmacies nation-wide and this improved eligibility enhances patient access for the millions of patients who suffer from nocturnal cramps and spasms in the legs and feet, symptoms associated with restless legs syndrome, arthritis and recurrent urinary tract infections.
Steve Woody, CEO of Avadim Health, said, “Patient access has always been a primary focus for our company. We are working diligently with the national data bank process and first line payors to improve the financial burden for millions of sufferers who need our innovations. US Drug and Device Register has really accelerated the process for us ensuring our products are appropriately registered with the Medicare Databanks and eligible through the Health Savings and Flexible Spending process. Our overall goal is to breakdown as many barriers for seniors and those with increasing financial burdens.”
Michael Kozin, General Manager of US Drug and Device Register, said, “It has been a pleasure to work with Avadim Health. We have helped many companies gain payor coverage and having brands with such broad clinical compendiums such as the Theraworx brands have always accelerates the process. All of the Avadim brands have not only broad clinical evidence but were also studied by some of our nations most recognized academic hospital systems. We have more work to do but we are on the right track.”
Anthony Morello, Senior Director of Managed Markets, said, “US Drug and Device Register has been a great partner to work with. We are also seeing increasing coverage with several state Medicaid Card approvals and even private insurance carriers such as Cigna. These approvals have been enhanced further with the recent CARES Act passed in March 2020 easing the access burden by eliminating the need for a prescription to use these tax deferred programs. As of March 2020, with the passage of the CARES Act, the OTC prescription requirement has been repealed and prescriptions are no longer necessary to purchase over-the-counter medicines. All of our promoted brands are able to be purchased using FSA/HSA accounts. Covered Products include Theraworx Relief Muscle Cramps and Spasms, Theraworx Relief Joint Discomfort and Inflammation Foam, Theraworx Relief Joint Discomfort and Inflammation Duel Modality, and Theraworx Protect U-Pak. Over time, this will have increasing impact on our unit velocities at retail.”
About US Drug and Device Register:
US Drug and Device Register, Inc. is a multifaceted medical drug and device registration firm. By keeping time with the ever-changing needs of today’s healthcare systems, we assist our clients by developing strategies which yield profitable reimbursement with Third Party Payors. Our four-pronged approach to client services includes successful interface with pharmacy, third party payors, retail ventures and Hospital and Long- Term Care Facilities. On the cutting-edge of medical technology for over 36 years, our strong network ties ensure maximum success for our growing global clientele.
About Avadim Health, Inc.:
Avadim Health is a high-growth, healthcare and wellness company that sells topical products to improve immune health, neuromuscular health and skin barrier health. Using its proprietary platform, called the Bionome Engineered Platform, Avadim has developed products that target the institutional care and self-care markets. The Company believes there are significant unmet global demand for nonprescription options, such as its products, as an alternative to drugs that are more expensive or potentially addictive and can have long-term detrimental implications for health and society. Avadim’s mission, “Discovering New Ways to Care,” represents its strong belief that, by harnessing the innate power of the skin’s ecosystem, it can improve the health of individuals with products that address current societal challenges, including access to care, affordability, drug resistance and addiction. Avadim uses an evidence-based approach to develop, test and market its products. This clinical evidence contributed to the successful registration of several of its products for Medicare and Medicaid reimbursement, and enables the sales teams to serve customers across the full continuum of care, from institutional care to self-care, including in hospitals, long-term care facilities, closed provider pharmacies, physician offices and retail pharmacies.