IRTC - iRhythm trades higher after CMS published 2022 proposed rule related to Zio XT service

Mutlu Kurtbas/E+ via Getty Images iRhythm Technologies (IRTC) has added ~1.5% in the pre-market in apparent reaction to the comments posted by the company for Medicare Physician Fee Schedule Proposed Rule released by the Centers for Medicare and Medicaid Services (“CMS”) for Calendar Year 2022. The Proposed Rule included commentary for Category I Current Procedural Terminology (“CPT”) code sets linked to the long-term continuous electrocardiogram (“ECG”) monitoring and recording. The code sets are used by the company to seek reimbursement for its Zio XT service. “In the Proposed Rule, CMS did not propose national rates and proposed to continue with contractor pricing for CPT codes 93241, 93243, 93245 and 93247 for calendar year 2022,” iRhythm said. After a public comment period, the proposed rule will become final by November for implementation on January 01, 2022. “We are actively reviewing the CMS’ Proposed Rule and will provide additional commentary on our second-quarter conference call

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iRhythm trades higher after CMS published 2022 proposed rule related to Zio XT service