Myomo (NYSE:MYO) announced that it received authorization to be a Medicare provider through the Centers for Medicare & Medicaid Services.
CMS, under the U.S. Dept. of Health and Human Services, now includes Cambridge, Mass.-based Myomo in its Medicare Supplier Directory at Medicare.gov, which enables Myomo to bill Medicare directly when it delivers its MyoPro orthosis in 39 states, plus Washington, D.C., according to a news release.
MyoPro is a powered upper-limb orthosis designed for supporting the arm and restoring function to weakened or paralyzed arms in people suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury.
The company touts MyoPro as the only marketed device that currently senses a patient’s own EMG signals through non-invasive sensors on the arm to restore the ability to perform daily activities.
Myomo noted that it is currently working to complete the requirements for billing Medicare for delivery in the remaining 11 states.
“Today, reimbursement for the MyoPro orthosis is approved on a case-by-case basis by many Medicare Advantage plans, state Blue Cross/Blue Shield plans, certain Medicaid and commercial insurance plans, worker’s compensation plans, and the Veterans Administration,” Myomo CEO Paul Gudonis said in the release. “Obtaining broader coverage would allow us to potentially better serve the qualifying beneficiaries of Medicare and other plans who suffer a paralyzed or weakened arm caused by stroke or nerve injury. I want to emphasize that we have not yet received coverage or reimbursement terms from CMS, and in fact there is no guarantee those terms will be forthcoming soon, but Provider status is an important step following on to our receiving Healthcare Common Procedure Coding System (HCPCS) codes from CMS last year.
“We will continue to advocate for MyoPro coverage to help appropriate candidates obtain this useful technology for use at home, at work, and in school.”