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Ekso Bionics Supports Centers for Medicare & Medicaid Services (CMS) Proposed Rule to Include Personal Exoskeletons within a Medicare Benefit Category
SAN RAFAEL, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton
About this update from Ekso Bionics Holdings, Inc.
[{"type":"text","content":"SAN RAFAEL, Calif., Sept. 27, 2023 (GLOBE NEWSWIRE) -- Ekso Bionics Holdings, Inc. (Nasdaq: EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, supports the Centers for Medicare & Medicaid Services (“CMS”) proposal to include personal exoskeletons in the Medicare benefit category for braces in the updated 2024 Home Health Prospective Payment System Rate. “This newly proposed rule is highly relevant for our business and individuals with a spinal cord injury and reflects a positive step in facilitating the potential for Medicare coverage of personal exoskeletons, such as our Ekso Indego Personal, for qualified patients as a lump sum reimbursement,” said Scott Davis, Chief Executive Officer of Ekso Bionics. “We fully support the codifying of the proposal to further enhance potential access for Medicare beneficiaries and look forward to the CMS regulations expected later this year, including potential reimbursement levels.” The proposed CMS rule would codify the longstanding Medicare definition of brace to provide clarification on the scope of the Medicare Part B benefit for leg, arm, back, and neck braces, and as a result, would classify certain exoskeleton-type devices as braces for Medicare payment purposes. Currently, of the 294,000 individuals with spinal cord injury (“SCI”) prevalence1 only 56% of are covered by Medicare or Medicaid five years post injury.2 If approved, the proposed rule could significantly expand the addressable market for Ekso Indego Personal. Debbie Wagoner, an individual with a SCI, recognized the life changing benefits from using an Ekso Indego Personal. To preserve her quality of life, Ms. Wagoner purchased her own device through a time-intensive and costly self-fundraise, since the Ekso Indego Personal was not covered under Medicare and Medicaid benefits. Under the proposed CMS rule change, more individuals with a SCI who have Medicare and Medicaid benefits, like Ms. Wagoner, could obtain their Ekso Indego Personal device at a considerably lower cost. “My neurologist thinks my drastically reduced pain and improved quality of life are largely due to the Ekso Indego Personal,” said Ms. Wagoner. “I had peace with my SCI from the beginning and knew there was a purpose. I want to show the world how I reacquired independence and instill hope in other individuals...