Myomo, Inc. (NYSE American: MYO) ("Myomo" or the "Company"), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced that the Centers for Medicare & Medicaid Services ("CMS"), through their regional contractors known as the DME MACs, have remitted and paid lump sum reimbursements to the Company and are beginning to reimburse orthotics and prosthetics ("O&P") providers for MyoPros delivered to Medicare Part B beneficiaries.
The amounts paid were based on the fees published by CMS for the Company's Healthcare Common Procedures Coding System ("HCPCS") codes L8701 and L8702, which became effective on April 1, 2024. All four regional DME MAC's have remitted lump sum reimbursements, and payments have been received for a number of patients of the Company and O&P providers based on the published fee schedule.
https://finance.yahoo.com/news/myomo-announces-first-lump-sum-123000509.html
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