Myomo Receives Medicare Part B Reimbursement For First MyoPro Claims
Portfolio Pulse from Happy Mohamed
Myomo, Inc. (NYSE:MYO), a wearable medical robotics company, has received payments for two claims submitted for MyoPro® arm braces provided to Medicare fee-for-service beneficiaries. The company recently delivered the custom-fabricated MyoPro braces to these two patients. The Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that includes orthoses/braces such as the MyoPro. If the proposed rule is finalized, MyoPro braces provided to Medicare Part B beneficiaries will be paid on a lump sum basis.
August 24, 2023 | 8:24 pm
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Myomo, Inc. has received payments for two MyoPro arm braces claims from Medicare. A proposed CMS rule could lead to lump sum payments for MyoPro braces in the future, potentially increasing the company's revenues.
The news of Myomo receiving payments for two MyoPro arm braces claims from Medicare is directly relevant to the company and its financial performance. If the proposed CMS rule is finalized, it could lead to lump sum payments for MyoPro braces in the future, potentially increasing the company's revenues. This could have a positive impact on the company's stock price in the short term.
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IMPORTANCE 75
RELEVANCE 100