Senseonics (NYSE:SENS) announced that EmblemHealth is now providing coverage for its Eversense continuous glucose monitoring system.
Germantown, Md.-based Senseonics said in a news release that the immediately effective decision adds to the number of payers writing the Eversense system into their CGM coverage policies and paying for the healthcare provider’s time for the in-office sensor placement.
EmblemHealth, which operates in New York, New Jersey and Connecticut, expands access to approximately 2.9 million residents across the three states with the addition of Eversense to its 2021 CGM policy.
Eversense features a fluorescence-based upper-arm sensor, a smart transmitter worn over the sensor and a mobile app for displaying glucose values, trends and alerts. The system also includes a smart transmitter that provides discreet on-body vibratory alerts and can be removed, recharged and re-attached without discarding the sensor.
“We are excited to see additional coverage for Eversense and appreciate the payer community’s recognition that CGM is now Standard of Care for patients using insulin to manage their diabetes,” Senseonics president & CEO Tim Goodnow said in the release. “Improved glucose control has always been the goal for health care professionals and patients. Now that goal is even more imperative as the COVID-19 pandemic has revealed the negative consequences of poor glucose management in patients who contract the coronavirus.
“Eversense offers patients a new choice amongst the CGM class that delivers industry-leading accuracy, an improved patient experience, and an array of unique features intended to afford people the opportunity to achieve improved health outcomes.”
The addition of Eversense to EmblemHealth’s CGM policy is the second victory for Senseonics this week alone after the company announced that it entered into securities purchase agreements worth gross proceeds of approximately $50 million.