RWLK - In Historic Move Medicare Proposes Preliminary Reimbursement Level for ReWalk Personal Exoskeleton | Benzinga
Preliminary payment determination of $94,617 does not yet factor in currently available ReWalk system with Breakthrough Device Designation.
CMS welcomes additional pricing materials at upcoming HCPCS meeting to reflect subsequent advancements in technology and pricing since ReWalk's 2020 application.
MARLBOROUGH, Mass. and BERLIN and YOKNEAM ILLIT, Israel, Nov. 06, 2023 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (NASDAQ:RWLK) ("ReWalk" or the "Company"), a leading provider of innovative technologies that enable mobility and wellness in rehabilitation and daily life for individuals with neurological conditions, today announced that the Centers for Medicare & Medicaid Services ("CMS") has included the ReWalk Personal Prosthetic Exoskeleton system in the agenda for the upcoming Healthcare Common Procedure Coding System ("HCPCS") meeting on November 29, 2023 and provided a preliminary payment determination of $94,617.
"The inclusion of the ReWalk Exoskeleton within the upcoming HCPCS agenda and the proposed preliminary pricing is a tremendous step forward in our efforts to ensure broader access to exoskeletons for the substantial percentage of the spinal cord injury community with Medicare coverage," said Larry Jasinski, CEO of ReWalk Robotics. "ReWalk is encouraged by the process used by CMS to determine its preliminary pricing, and by the statements from CMS that they are open to receiving updated information on pricing that reflects the breakthrough technological developments, including technology that enables ambulation on stairs and curbs, which have been implemented since ReWalk's 2020 application. We look forward to continuing to work with CMS at the upcoming HCPCS meeting later this month."
This news follows the previous determination by CMS through rulemaking that personal exoskeletons such as the ReWalk Personal Exoskeleton fall within the brace benefit category, which is reimbursed by Medicare on a lump sum basis. The ...