Ruling Could Significantly Expand Use of Ekso Indego Personal in Home and Community Markets
SAN RAFAEL, Calif., Nov. 02, 2023 (GLOBE NEWSWIRE) — Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, announces that the Centers for Medicare & Medicaid Services (“CMS”) finalized its Calendar Year 2024 Home Health Prospective Payment System Rule CMS-1780 (“2024 Home Health Rule”), which includes exoskeletons in the Medicare brace benefit category. The Company believes Ekso Indego Personal meets the definition in the ruling and has a pending application with CMS to formalize the applicability. The rule will go into effect beginning on January 1, 2024.
In the final ruling, CMS codifies “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, classifies certain exoskeleton-type devices as braces for Medicare payment purposes.” This ruling could significantly expand the addressable market for Ekso Indego Personal.
“CMS’s ruling is a potentially game changing event that we believe classifies certain exoskeleton-type devices, such as the Ekso Indego Personal, as braces for Medicare payment purposes,” said Scott Davis, Chief Executive Officer of the Company. “Once a reimbursement rate is established by CMS, expected in late 2023, SCI individuals with Medicare coverage may soon be able to obtain our device at a fraction of the current cost. We applaud CMS’ decision that will enhance widespread access to the advantages of the transformative mobility solutions offered by our exoskeleton technology.”
Ekso Indego Personal is a modular, lightweight and easily portable exoskeleton that is safe for use in most home and community environments. The device contains an advanced gait mode where the individual can reach faster walking speeds, granting them a new level of independence.
The Company has more than 260 inpatient and outpatient clinics and hospitals across North America that can identify, qualify and potentially act as training centers for individuals who may be eligible for an Ekso Indego Personal. The Company is already collaborating with many of these facilities by offering clinical demonstrations, where interested individuals can trial the Ekso Indego Personal.
