Ekso Bionics Announces Receipt of Initial CMS Reimbursement for Ekso Indego Personal

About this update from Ekso Bionics Holdings, Inc.

[{"type":"text","content":"- Company Launches EksoHealth Personal Program to Help Individuals Access Exoskeletons - SAN RAFAEL, Calif., Aug. 20, 2024 (GLOBE NEWSWIRE) -- 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 Medicare program has, through the Centers for Medicare & Medicaid Services’ (“CMS’”) regional Durable Medical Equipment Medicare Administrative Contractors (“DME MACs”) completed claims processing and remitted a lump sum payment for Ekso Indego Personal. The amount paid was based on the $91,032 reimbursement level established for Healthcare Common Procedures Coding System (“HCPCS”) code K1007, which became effective on April 1, 2024. HCPCS K1007 can be used by other public health insurance programs as well as private payers. This marks the completion of the first reimbursement process for Medicare beneficiaries since Ekso Bionics received final payment determination for Ekso Indego Personal. “We are excited to announce the receipt of initial CMS reimbursement on our Ekso Indego Personal,” said Scott Davis, Chief Executive Officer of Ekso Bionics. “CMS’ reimbursement of our Ekso Indego Personal device represents a major milestone for Ekso and, importantly, those living with spinal cord injury (“SCI”), allowing them to achieve improved mobility and independence in their homes and communities. Working with our DME partner, our team is continuing to optimize the reimbursement submission process while building a growing pipeline of potential future reimbursements. We continue to ramp up engagement with our partner rehabilitation centers, as an increased number of their patients are interested in accessing this life changing and now affordable solution. We look forward to bringing Ekso Indego Personals to more individuals in need.” Ekso intends to work with Medicare Advantage plans and commercial insurers later in 2024. With tens of thousands of individuals with SCI covered by Medicare, Ekso believes this reimbursement will represent a significant increase in the addressable market for Ekso Indego Personal, which Ekso will be working to access in late 2024 and beyond. Ekso recently launched the EksoHealth Personal Program in the U.S., which is designed to help patients access the Company’s personal exoskeletons throug...

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