Centers for Medicare And Medicaid Services Accepts Myomo's Application To Classify The MyoPro As A Brace
Portfolio Pulse from Happy Mohamed
Myomo, Inc. (NYSE:MYO), a wearable medical robotics company, has announced that its request to the Centers for Medicare and Medicaid Services (CMS) to classify the company's MyoPro as a brace has been published for public comment. If the proposal is finalized, MyoPro will be reimbursed by CMS in a lump-sum payment rather than as a rental. The proposed rule is expected to be finalized following a 60-day public comment period.
July 03, 2023 | 12:30 pm
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The acceptance of Myomo's application by CMS to classify MyoPro as a brace could lead to a lump-sum reimbursement, potentially improving the company's cash flow.
The classification of MyoPro as a brace by CMS could lead to a lump-sum reimbursement, which is more favorable than rental reimbursement. This could improve the company's cash flow and financial stability, potentially leading to a positive impact on the stock price.
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