MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel - ReWalk Robotics Ltd. (NASDAQ: LFWD), operating as Lifeward, a company specializing in medical devices for individuals with physical limitations, has recently disclosed that the Centers for Medicare & Medicaid Services (CMS) has deferred a pricing decision for its personal exoskeleton devices.
The CMS decision, which was part of its bi-annual Healthcare Common Procedure Coding System (HCPCS) coding memorandum, will require further information on the pricing of the current exoskeleton model, which includes additional clinically significant functionality compared to its predecessor.
The company, which aims to provide life-changing solutions for rehabilitation and recovery, has delivered 35 of these personal exoskeleton systems to Medicare beneficiaries to date, with payments being determined on a case-by-case basis. This interim measure will continue until CMS finalizes its pricing, expected later this year.
Larry Jasinski, CEO of Lifeward, expressed disappointment in the delay but reaffirmed the company's commitment to working with CMS to support pricing considerations for the stair-enabled ReWalk Exoskeleton. Jasinski emphasized the importance of establishing a pricing framework to enable individuals with spinal cord injuries to access the technology that allows them to walk again.
The exoskeleton systems, part of Lifeward's broader product portfolio including AlterG Anti-Gravity systems, ReStore Exo-Suit, and MyoCycle FES Systems, are designed to enhance mobility and improve the quality of life for people with physical limitations or disabilities. The company, founded in 2001, operates in the United States, Israel, and Germany.
While the press release from Lifeward contains forward-looking statements regarding the company's expectations and future regulatory interactions, these are subject to various risks and uncertainties. The company's SEC filings detail these risks, and Lifeward does not commit to publicly updating any forward-looking statements.
This report is based on a press release statement from Lifeward.
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