Myomo, Inc. (NYSE American:MYO) (“Myomo,” or the “Company”), a wearable medical robotics company, announces that the Centers for Medicare & Medicaid Services (“CMS”) has published a favorable preliminary decision regarding the Company’s application for Healthcare Common Procedure Coding System (HCPCS) “L” codes. Myomo had filed its application in December 2017 to have CMS establish two new Level II HCPCS codes to describe “microprocessor-controlled, custom fabricated upper extremity braces.”
“We are very grateful to CMS and the whole HCPCS Workgroup for their preliminary decision to assign L Codes for our MyoPro line of powered orthoses,” said Myomo Chief Medical Officer Dr. Brandon Green. “The MyoPro has already helped so many patients with neurological/neuromuscular injury and illness by supporting their weakened arms, restoring control over their range of motion, reducing their healthcare costs, and giving them back their independence. It is important for clinically qualified Medicare and Medicaid beneficiaries to have access to this technology, too.”
If the decision is made permanent, the codes will become effective on January 1, 2019. The assignment of unique L-Codes, if followed by appropriate payment terms (which are still pending), would offer greater access to the MyoPro for Medicare beneficiaries.
The CMS preliminary decision on the MyoPro orthoses can be viewed on the following website: https://www.cms.gov/Medicare/Coding/MedHCPCSGenInfo/Downloads/2018-06-18-HCPCS-Public-Meeting-Agenda.pdf
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