Abiomed (NSDQ:ABMD) said it doesn’t believe that the Centers for Medicare & Medicaid Services is likely to bestow a national coverage decision for its Impella heart pump.
"We believe, after recent communication and review of all coverage policy reference information from the Centers for Medicare & Medicaid Services, which administers the Medicare insurance program, that there is currently no consideration for a National Coverage Decision for the Impella technology," the Danvers, Mass.-based medical device company said in a regulatory filing.
ABMD shares were down 2.4% to $21.72 apiece as of about 1 p.m. today on Wall Street.
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The Impella device, which is used to help heart disease patients’ cardiac output during treatment or while they await another procedure, has been covered under Medicare’s "diagnosis-related group" program since 510(k) clearance was granted in 2008, according to the filing.
"CMS has indicated that Impella-related DRG groupings for FY2014 will remain status quo during the Medicare system-wide transition from ICD9 to ICD10 codes," Abiomed said.
The Impella device is not on the docket for a Nov. 14 meeting at CMS about ventricular assist devices, according to the filing.
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