Lifeward CEO Issues Open Letter To Shareholders On Progress To Finalize Exoskeleton Medicare Payment Rate
Portfolio Pulse from Benzinga Newsdesk
Lifeward CEO Larry Jasinski issued an open letter to shareholders updating on the progress with CMS to finalize a Medicare payment rate for the ReWalk Exoskeleton. The payment rate was deferred in the HCPCS final determination, but CMS has indicated it can update the April 2024 DMEPOS fee schedule to include exoskeletons once the rate is established. Lifeward is actively working with CMS and has submitted 35 Medicare claims, with one already paid and more in review. An additional 60-75 claims are planned for submission by end of 2024.
April 01, 2024 | 8:34 pm
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POSITIVE IMPACT
Lifeward is in the process of finalizing a Medicare payment rate for the ReWalk Exoskeleton with CMS, which could significantly impact revenue and market access.
The establishment of a Medicare payment rate for Lifeward's ReWalk Exoskeleton is crucial for revenue growth and market penetration. The positive indication from CMS about updating the DMEPOS fee schedule and the active submission of Medicare claims by Lifeward suggest a favorable outcome. This development is likely to be viewed positively by investors and could lead to an increase in stock price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100