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- CVRx, Inc. (NASDAQ:CVRX) gained ~25% in the morning hours Friday after the maker of neuromodulation devices said that the U.S. Centers for Medicare and Medicaid Services will increase payments for its Barostim implant procedure used in heart failure.
- The decision comes after CMS revised its Medicare Hospital Outpatient Prospective Payment System (OPPS) final rule for 2024.
- Under the updated OPPS rule, Barostim was assigned a new ambulatory payment classification (APC) code, which carries an average payment of $45K, the company said.
- Barostim, an FDA-approved medical technology for heart failure symptoms, was linked to an average payment of $29K under the previous rule. The new APC code takes effect on January 1, 2024.
- “We sincerely appreciate the consideration taken by CMS of the resource requirements associated with the Barostim implant procedure,” CEO Nadim Yared remarked.
