Why Is Heart Failure-Focused CVRx Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
CVRx Inc announced that the Centers for Medicare and Medicaid Services (CMS) has reassigned the Barostim implant procedure for procedures performed in the outpatient setting as part of the 2024 Medicare Hospital Outpatient Prospective Payment System (OPPS) final rule. The new payment takes effect January 1, 2024, and carries an average payment of $45,000, up from $29,000 in 2023. CVRx shares are up 25.50% at $17.09 on the last check Friday.
November 03, 2023 | 4:46 pm
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POSITIVE IMPACT
CVRx's Barostim implant procedure has been reassigned by CMS, increasing the average payment from $29,000 to $45,000 in 2024. This has led to a 25.50% increase in CVRx's share price.
The reassignment of the Barostim implant procedure by CMS increases the average payment for the procedure, which is likely to increase CVRx's revenues. This positive financial news has led to an increase in CVRx's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100