MOUNTAIN VIEW, Calif., July 19, 2011 (GLOBE NEWSWIRE) -- Conceptus, Inc. (Nasdaq:CPTS), developer of the Essure® procedure, the most effective non-surgical permanent birth control method available, today introduced the Essure FlexPay™ Plan, a financial assistance program designed to help patients better manage their out-of-pocket costs for the Essure procedure, including those who are covered by private medical insurance plans. Conceptus developed this plan in response to the new economic realities facing prospective Essure patients. Plan details can be found on the Essure website at www.essure.com.
An increasing number of Americans enrolled in high deductible private healthcare plans, along with diminished consumer savings due to the challenging economy, can make paying for medical procedures such as Essure difficult until annual deductibles have been met. The Essure FlexPay™ Plan closes the affordability gap for patients who have chosen Essure, but need to postpone or forego the procedure due to prohibitive out-of-pocket costs. The plan removes financial barriers by allowing Essure patients who qualify to make interest-free payments over a period of 12 months to cover out-of-pocket costs up to a specified amount for the Essure procedure.
"We are excited to offer this one-of-a-kind patient payment assistance plan for qualified patients who have chosen Essure as their permanent birth control solution, but face high insurance deductibles. We estimate that approximately 20% to 40% of women who want Essure do not get the procedure because of the financial barrier of high deductible plans. While Essure can be costly for families that have not met their annual deductible, it becomes one of the most cost-effective birth control options once the deductible is met. This plan effectively paves the way for more patients to get the Essure procedure," said Mark Sieczkarek, president and chief executive officer of Conceptus.
"The Essure FlexPay™ Plan supports our efforts to strategically navigate challenging macroeconomic and insurance trends as we seek to make Essure the standard of care in the permanent birth control market," said Sieczkarek. "We expect to continue to build upon our innovative solutions for both patients and physicians in the field of women's health."
About the Essure® Procedure
The Essure procedure, FDA approved since 2002, is the first permanent birth control method that can be performed in the comfort of a physician's office in less than 10 minutes (average hysteroscopic time) without hormones, cutting, burning or the risks associated with general anesthesia or tubal ligation. Soft, flexible inserts are placed in a woman's fallopian tubes through the cervix without incisions. Over the next three months, the body forms a natural barrier around and through the micro-inserts to prevent sperm from reaching the egg. Three months after the Essure procedure, a doctor is able to perform an Essure Confirmation Test to confirm that the inserts are properly placed and the fallopian tubes are fully blocked, giving the patient reliance on Essure for permanent birth control.
The Essure procedure is 99.95% effective based on one year of follow up with zero pregnancies reported in clinical trials, making it the most effective form of permanent birth control on the market. The procedure is covered by most insurance plans, and when it is performed in a doctor's office the cost to the patient may be as low as a simple co-pay. Essure has been proven and trusted by physicians since 2002, with more than 500,000 women worldwide having undergone the Essure procedure.
About Conceptus, Inc.
Conceptus, Inc. is a leader in the design, development, and marketing of innovative solutions in women's healthcare. The Company manufactures and markets the Essure procedure. The Essure procedure is available in the United States, Europe, Australia, New Zealand, Canada, Mexico, Central and South America and the Middle East. The Company also promotes the GYNECARE THERMACHOICE® Uterine Balloon Therapy System by ETHICON™ Women's Health & Urology, a division of Ethicon, Inc., in U.S. OB/GYN physician offices.
Please visit www.essure.com for more information on the Essure procedure and the Essure FlexPay™ Plan. Patients may call the Essure Information Center at 1-877-ESSURE-1 with questions or to find a physician in their area.
The Conceptus, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7961
Forward Looking Statements
Except for the historical information contained herein, the matters discussed in this press release include forward-looking statements, the accuracy of which is subject to risks and uncertainties. These forward-looking statements include discussions regarding the effect of the economy and high deductible insurance plans on a patient's ability to pay out-of-pocket costs for the Essure procedure, anticipated benefits of the Essure FlexPay™ Plan such as the expectation that the plan will enable more patients to get the Essure procedure, and the expected attainment of strategic initiatives intended to grow the business. These discussions and other forward-looking statements included herein may differ significantly from actual results. Such differences may be based upon factors such as changes in strategic planning decisions by management, re-allocation of internal resources, changes in the impact of domestic and global macroeconomic pressures, reimbursement decisions by insurance companies and domestic and foreign governments, scientific advances by third parties, litigation risks, the effect of regulations promulgated pursuant to the Affordable Care Act, and the introduction of competitive products, as well as those factors set forth in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as to the date on which the statements were made. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
© 2011 Conceptus, Inc. – All rights reserved. Conceptus, Essure, Your Family is Complete, Your Choice is Clear are registered trademarks and service marks of Conceptus, Inc. Essure FlexPay and Essurance Promise are trademarks of Conceptus, Inc.
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