Medicare establishes pricing for Sight Sciences’ TearCare System

MENLO PARK, Calif. - Two Medicare Administrative Contractors (MACs) have established jurisdiction-wide pricing for procedures performed with Sight Sciences’ (NASDAQ:SGHT) TearCare System, effective January 1, 2025. The company, currently valued at $180 million, has demonstrated strong financial health with a current ratio of 10.01, indicating robust liquidity. According to InvestingPro analysis, the company maintains more cash than debt on its balance sheet, positioning it well for future growth.

Novitas Solutions and First Coast Service Options, which together cover approximately 30% of Medicare fee-for-service beneficiaries across 12 states, the District of Columbia, Puerto Rico, and the Virgin Islands, will process claims for the dry eye treatment based on individual medical necessity determinations.

The pricing applies to CPT code 0563T, which describes the evacuation of meibomian glands using heat delivered through wearable, open-eye eyelid treatment devices and manual expression.

"We are pleased that the rigorous TearCare review conducted by Novitas and First Coast Service Options resulted in established pricing for TearCare," said Paul Badawi, Co-Founder and Chief Executive Officer of Sight Sciences, in a press release statement.

The company recently launched the Sight Access Portal to assist healthcare providers with patient benefit verifications, prior authorizations, and reimbursement questions for its TearCare System and other products.

Sight Sciences plans to provide updated revenue and adjusted operating expenses guidance during its third quarter 2025 earnings call.

The TearCare System is FDA-cleared for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland disease, which is a leading cause of dry eye.

In other recent news, Sight Sciences Inc. reported its second-quarter 2025 earnings, exceeding revenue expectations with $19.6 million compared to the forecasted $18.18 million. The company also reported a narrower-than-expected loss per share of $0.23, against a forecasted loss of $0.26. Following these results, Lake Street Capital Markets upgraded Sight Sciences from Hold to Buy, setting a price target of $5.00, citing a stabilizing business. Additionally, UnitedHealthcare announced it would update its Glaucoma Surgical Treatments policy to cover Sight Sciences’ OMNI Surgical System starting October 1, 2025. This update will include several minimally invasive procedures for adults with mild to moderate open-angle glaucoma and cataracts. Furthermore, a systematic review and meta-analysis published in the European Journal of Ophthalmology highlighted the OMNI Surgical System’s positive long-term outcomes in treating open-angle glaucoma. The analysis found that approximately 89% of patients achieved treatment success with a significant reduction in intraocular pressure. These developments mark significant progress for Sight Sciences in both clinical and market aspects.

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