CVRx up as heart implant usage prospects benefit from CMS decision

CVRx

03/11/2023 14:59

** Shares of medical device maker CVRx Inc  CVRX.O  rise
21.88% to $16.60
    ** Co says Centers for Medicare and Medicaid Services (CMS)
has increased outpatient payments for procedures using CVRX's
heart implant, Barostim, as a part of the 2024 Medicare Hospital
Outpatient Prospective Payment System (OPPS) final rule
    ** Reassignment will facilitate increased access to the
therapy for Medicare patients with heart failure by offering
facilities sufficient reimbursement for the procedure - CVRX
     ** In the 2024 OPPS final rule, Barostim was reassigned to
a payment classification which carries an average payment amount
of $45,000; the new payment takes effect Jan 1, 2024
    ** In 2023, Barostim was assigned to the payment
classification carrying an average amount of $29,000    
    ** Barostim is an implantable device that delivers
electrical pulses to baroreceptors located in the wall of the
carotid artery to improve the symptoms of heart failure
    ** Stock down 10% YTD 

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))