FNA - Abiomed AtriCure draw bullish views at Piper on proposed Medicare rates

Abiomed (NASDAQ:ABMD) and AtriCure (NASDAQ:ATRC) were among some of the healthcare equipment makers to earn bullish views at Piper Sandler after the Centers for Medicare and Medicaid Services (CMS) issued its annual Inpatient Prospective Payment System (IPPS) proposed rule on Monday. The proposal suggests roughly a 3.1% hike in rates for fiscal 2023, which, according to Piper analysts led by Matt O'Brien, were approximately in line with the final rate increases implemented by the agency over the past years. After the publication of the proposal, the team issued favorable remarks on Abiomed (ABMD), citing another year of stable changes to Y/Y reimbursement rates for the company’s heart pump, Impella, across several key Diagnosis Related Groups ((DRGs)). Commenting on AtriCure (ATRC), the analysts noted that despite “some very modest reductions” seen for certain DRGs related to the maker of surgical ablation devices, “these reductions were less severe than those seen in fiscal '22.”

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Abiomed, AtriCure draw bullish views at Piper on proposed Medicare rates