Ekso Bionics (Nasdaq:EKSO) announced that the Centers for Medicare & Medicaid Services (CMS) proposed a payment level for its exoskeleton.
The Pricing, Data Analysis, and Coding (PDAC) contractor completed its review of the Ekso Indego Personal, approving the use of Healthcare Common Procedure Coding System (HCPCS) Code K1007 to bill Medicare for the device. CMS proposed a payment level of $94,617 for devices under this code. Ekso expects CMS to announce the pricing in February 2024 before the anticipated effective date of April 1, 2024.
Ekso Indego Personal is a modular, lightweight and portable exoskeleton that people can use in most home and community environments. The device features an advanced gait mode for users to reach faster walking speeds, reaching new levels of independence.
This marks the latest reimbursement win for exoskeleton technology. Starting on Jan. 1, 2024, CMS will cover exoskeletons in the Medicare brace benefit category, benefitting the likes of ReWalk Robotics and Myomo.
“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,” said CEO Scott Davis. “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.”