Ekso Bionics to Participate at Centers for Medicare & Medicaid Services (CMS) Second Biannual 2023 Healthcare Common Procedure Coding System (HCPCS) Public Meeting on Wednesday, November 29
16 Novembre 2023 - 10:05PM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an
industry leader in exoskeleton technology for medical and
industrial use, today announced that the Company will participate
at the Centers for Medicare & Medicaid Services’ (“CMS”)
Healthcare Common Procedure Coding System (“HCPCS”) public meeting
on November 29, 2023, to discuss appropriate Medicare payment for
the Ekso Indego Personal.
“We appreciate CMS for providing Ekso with this
opportunity to highlight the urgent need of the Ekso Indego
Personal for thousands of individuals with a spinal cord injury
(“SCI”),” said Scott Davis, Chief Executive Officer of Ekso
Bionics. “The Home Health Prospective Payment System Rule,
finalized earlier this month, has significantly increased interest
in our personal, home and community use exoskeleton. With CMS’s
proposed reimbursement level of $94,617 for devices fitting within
the existing reimbursement code, certain SCI individuals with
Medicare coverage will have access to our life-changing technology.
We look forward to this meeting and the potential positive health
impacts that reimbursement could have for the SCI community.”
The Company has submitted a coding verification
request to confirm that reimbursement claims for Ekso Indego
Personal should be submitted with HCPSC Level II Code K1007,
defined as “Bilateral hip, knee, ankle, foot device, powered,
includes pelvic component, single or double upright(s), knee joints
any type, with or without ankle joints any type, includes all
components and accessories, motors, microprocessors, sensors.” A
determination is expected in the coming weeks.
This HCPCS meeting follows the CMS’ final rule
published on November 1, 2023, where it codified “the longstanding
Medicare definition of brace to provide clarification on the scope
of the Medicare Part B benefit for leg, arm, back, and neck braces
and, as a result, classifies certain exoskeleton-type devices as
braces for Medicare payment purposes.” This rule will go into
effect on January 1, 2024; any national payment amount established
as a result of the November 29 meeting will be effective April 1,
2024.
Ekso Indego Personal is a modular, lightweight
and easily portable exoskeleton that is safe for use in most home
and community environments. The device contains an advanced gait
mode where the individual can reach faster walking speeds, granting
them a new level of independence.
About Ekso Bionics® Ekso
Bionics® is a leading developer of exoskeleton solutions that
amplify human potential by supporting or enhancing strength,
endurance and mobility across medical and industrial applications.
Founded in 2005, the Company continues to build upon its
industry-leading expertise to design some of the most cutting-edge,
innovative wearable robots available on the market. Ekso Bionics is
the only known exoskeleton company to offer technologies that range
from helping those with paralysis to stand up and walk, to
enhancing human capabilities on job sites across the globe. The
Company is headquartered in the San Francisco Bay Area and is
listed on the Nasdaq Capital Market under the symbol “EKSO.” For
more information, visit: www.eksobionics.com or follow @EksoBionics
on X.
Forward Looking StatementsThis
press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements.
Forward-looking statements include, without limitation, the
possibility of the Company’s products becoming eligible for
reimbursement under Medicare following adoption of the CMS rule
changes and the corresponding increase to the Company’s addressable
market. Forward-looking statements can be identified by words such
as “expect,” “continue,” “anticipate,” “estimate,” “believe,”
“plan,” “projection,” “grow,” “potential,” “future,” “can,”
“develop,” “proposition,” “position,” “expand,” “may” or words of
similar meaning. Actual results and the timing of certain events
and circumstances may differ materially from those described by the
forward-looking statements as a result of risks and uncertainties.
Factors that may influence or contribute to the inaccuracy of the
forward-looking statements or cause actual results to differ
materially from expected or desired results may include, without
limitation, Ekso Indego Personal not meeting the definition in the
2024 Home Health Rule and CMS not accepting the Company’s pending
application to formalize the applicability, a delay in the adoption
of the new CMS rules, and less demand than expected from patients
even at a reduced purchase price. These and other factors are
identified and described in more detail in the Company's public
filings with the Securities and Exchange Commission ("SEC”). You
should carefully read the Cautionary Note Regarding Forward-Looking
Statements and the factors described in the "Risk Factors" section
of the Company’s periodic reports filed with the Securities and
Exchange Commission to better understand the risks and
uncertainties inherent in the Company. The Company does not
undertake to update these forward-looking statements, except as
required by law.
Contact: David
Carey 212-867-1768 investors@eksobionics.com
Ekso Bionics (NASDAQ:EKSO)
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