Artificial intelligence (AI)-based organ regeneration platform specialized corporations ROKIT Healthcare said on the 16th that it officially confirmed receipt of public insurance for diabetic foot regeneration treatment performed with its products at a large U.S. tertiary hospital HOPD (Hospital Outpatient Department).
The company said, "ROKIT Healthcare's AI autologous tissue regeneration treatment has achieved the first record of being recognized as an official medical procedure within the U.S. public insurance system (CPT code)," and noted that it is "a key milestone signifying the entry of AI-based regenerative medicine into the institutional mainstream."
The company expected that this receipt of U.S. insurance would accelerate ROKIT Healthcare's entry into markets in South America, the Middle East, and Europe. The reason, it said, is that health authorities in each country are likely to assess the economic and clinical utility of autologous tissue regeneration treatment based on U.S. CPT code application cases.
According to the company, ROKIT Healthcare's diabetic foot regeneration treatment shows an average regeneration success rate of 82% with a single procedure. Compared with traditional amputation and wound care, the average expense can be reduced to a quarter. The number of diabetic foot patients in the United States is estimated at about 1.6 million per year.
ROKIT Healthcare plans to sequentially commercialize its AI hyper-personalized organ regeneration platform for skin, cartilage, and kidneys in the U.S., Europe, and the Middle East. Yoo Seok-hwan, CEO of ROKIT Healthcare, said, "This is the first case of AI-based regenerative medicine being incorporated into the official institutional insurance system in the United States," adding, "Starting from this, the pace of global insurance approvals will accelerate sharply." Yoo said, "Through a hyper-personalized platform that combines AI with autologous regeneration technology, we will open the "customized regeneration era.""