Ekso Bionics Holdings, Inc. (NASDAQ:EKSO) (the “Company”), an industry leader in exoskeleton technology for medical and industrial use, today announced that the Pricing, Data Analysis, and Coding (“PDAC”) contractor for the Centers for Medicare & Medicaid Services (“CMS”) has completed its review of the Ekso Indego Personal and approved use of Healthcare Common Procedure Coding System (“HCPCS”) Code K1007 to bill Medicare for such device. CMS has proposed a payment level of $94,617 for devices fitting within this code and their final payment determination is expected to be announced in February 2024 and take effect on April 1, 2024.
“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 (“SCIs”),” said Scott Davis, Chief Executive Officer of Ekso Bionics. “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.”
Ekso presented at the HCPCS public meeting on November 29, 2023, to discuss appropriate Medicare payment considerations for the Ekso Indego Personal. During the meeting, Ekso highlighted the positive reported impact that Ekso Indego Personal has for patients, noting the improved quality of life, mental health, functional mobility, trunk control and increased sense of independence associated with being able to stand upright and walk in the home and community.
Alberto Esquenazi, MD, The John Otto Haas Chair, Professor at the Department of Physical Medicine and Rehabilitation, and Chief Clinical Officer of Jefferson Moss-Magee Rehabilitation, has helped patients rehabilitate with Ekso devices, and supports CMS’s decision. “Physical rehabilitation for patients with SCIs can be a long road that continues beyond their stay in a rehabilitation facility,” said Dr. Esquenazi. “Witnessing firsthand the clinical benefits that Ekso devices brings to patients, I am excited to see that they can continue their long road to recovery with one of Ekso’s devices at home now that there is financial support for continued gait training with an exoskeleton. I appreciate Ekso’s commitment both to patient health and to elevating the standard of care for persons in need of neurorehabilitation.”
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.
