Lifeward announces the Centers for Medicare & Medicaid Services (“CMS”) is deferring its final decision on the payment rate for personal exoskeletons so that more recent claims information on the current, more advanced ReWalk Personal Exoskeleton may be c

The decision was communicated through CMS’ bi-annual Healthcare Common Procedure Coding System (“HCPCS”) coding memorandum released yesterday; payment amount determination for ReWalk Personal Exoskeletons will continue to be on a case-by-case basis until such determination is finalized, likely later this year.

To date, Lifeward has delivered 35 Personal Exoskeletons to Medicare beneficiaries in an initiative to establish necessary capabilities and processes to support growing demand

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, March 01, 2024 (GLOBE NEWSWIRE) -- ReWalk Robotics Ltd. (DBA Lifeward), (Nasdaq: LFWD) (“Lifeward” or the “Company”), a global market leader delivering life-changing solutions to revolutionize what is possible in rehabilitation, recovery, and the pursuit of life’s passions in the face of physical limitation or disability, today announced that in CMS’ February 29th HCPCS decision memorandum the pricing decision for personal exoskeletons is deferred to obtain more information about current exoskeleton pricing. CMS accepted that “between the original 2020 HCPCS application and the present, the previous model [of the ReWalk Exoskeleton] has been discontinued in favor of the current model that incorporates additional, clinically significant functionality,” and the agency is open to gaining more information about pricing of the current exoskeleton model.

CMS issues these HCPCS decision memorandums twice per year, so it is anticipated that a pricing decision would be made in the next cycle, if not earlier. Until pricing is published as part of this process, the amount paid by the Medicare Administrative Contractors (MACs) for ReWalk system will continue to be made on a case-by-case basis as a lump-sum, as per the 2023 finalization of the Medicare benefit category. As of February 2024, a total of 35 ReWalk Personal Exoskeleton systems have been delivered to Medicare beneficiaries and will continue to be processed accordingly.

“We set a goal many years ago to help individuals with spinal cord injury achieve broader access to technologies which enable them to walk again. We are disappointed with the delay, but will continue to operate under the established processing guidelines and will work diligently with CMS to support pricing considerations for the outstanding claims for stair-enabled ReWalk Exoskeleton,” stated Larry Jasinski, CEO at Lifeward. “We ask that CMS move quickly to establish pricing so that individuals who have pursued this dream for years are able to experience the benefits of walking.”