Ekso Bionics Receives Final Payment Determination for Medicare Reimbursement from the Centers for Medicare & Medicaid Services (CMS) for Ekso Indego Personal
April 12 2024 - 8:00AM
Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company” or “Ekso
Bionics”), 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 determined a final
payment level of $91,031.93 for Medicare reimbursement of the Ekso
Indego Personal, which took effect on April 1, 2024.
As previously announced, CMS approved use of
Healthcare Common Procedure Coding System Code K1007 to bill
Medicare for the Ekso Indego Personal. This code can also be used
by other public health insurance programs as well as private
payers.
Ekso Bionics will work with inpatient and
outpatient clinics across the country to qualify individuals with
spinal cord injuries who can potentially benefit from the Ekso
Indego Personal. Ekso Bionics’ expansive clinical and
rehabilitation customer base, which includes more than 260 clinics
across North America, have the skilled therapists and clinicians to
train individuals over the course of several sessions to maximize
clinical outcomes. Ekso Bionics has worked with many of these
facilities by offering clinical demonstrations, where interested
individuals can trial the Ekso Indego Personal.
“There are clinically demonstrated advantages
for individuals with SCI who train with Ekso’s Indego Personal
device in post-acute care that help improve their quality of life,”
said Jenna Tosto-Mancuso, PT, DPT, NCS, Clinical Manager, Division
of Rehabilitation Innovation at Mount Sinai. “As patients can now
benefit from reimbursement, those covered by CMS will gain improved
access to this life changing device, which has the ability to
accelerate their recovery outside of in-clinic or hospital
rehabilitation and allow for better mobility in everyday life,
which has associated mental health benefits.”
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
increase in potential patient population as a result of CMS
reimbursement and the Company’s ability to successfully sell its
products to such customers and the impacts to patients from the
Company’s devices. 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, a future change to the reimbursement
amount 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. 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)
Historical Stock Chart
From Oct 2024 to Nov 2024
Ekso Bionics (NASDAQ:EKSO)
Historical Stock Chart
From Nov 2023 to Nov 2024