SAN RAFAEL, Calif., Dec. 12, 2023 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) (the "Company"), an industry leader in exoskeleton technology for medical and industrial use, today announced that the Pricing, Data Analysis, and Coding ("PDAC") contractor for the Centers for Medicare & Medicaid Services ("CMS") has completed its review of the Ekso Indego Personal and approved use of Healthcare Common Procedure Coding System ("HCPCS") Code K1007 to bill Medicare for such device. CMS has proposed a payment level of $94,617 for devices fitting within this code and their final payment determination is expected to be announced in February 2024 and take effect on April 1, 2024.
"We are very pleased that CMS recognizes the potential health benefits that exoskeletons like our Ekso Indego Personal can have on the daily lives of individuals with spinal cord injuries ("SCIs")," said Scott Davis, Chief Executive Officer of Ekso Bionics. "Once the reimbursement code takes effect, we expect that our Ekso Indego Personal will be accessible to those eligible within the SCI community at a substantially lower cost. We believe this important milestone serves as an inflection point for this unique device that will improve health outcomes and enhance quality of life for individuals living with an SCI."
Ekso presented at the HCPCS public meeting on November 29, 2023, to discuss appropriate Medicare payment considerations for the Ekso Indego Personal. During the meeting, Ekso highlighted the positive reported impact that Ekso Indego Personal has for patients, noting the improved quality of life, mental health, functional mobility, trunk control and increased sense ...