Medicare Revises 2024 Fee Schedule to Include Payment Rate for the ReWalk Personal Exoskeleton

Finalized Medicare reimbursement pathway for personal exoskeletons expands access for all eligible Medicare beneficiaries

MARLBOROUGH, Mass. and YOKNEAM ILLIT, Israel, April 12, 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 the Centers for Medicare & Medicaid Services (“CMS”) has officially revised its April 2024 Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (“DMEPOS”) Fee Schedule to include a final lump-sum Medicare purchase fee schedule amount for personal exoskeletons with a ceiling-to-floor range from $109,238 to $81,929, and an established rate of $91,032 for each state. CMS states that it calculated this final payment amount by averaging pricing information for exoskeleton devices from Lifeward and other manufacturers.

“This CMS publication finalizes the payment rate for the ReWalk Personal Exoskeleton for 2024, which importantly concludes all open items related to establishing Medicare benefit category assignment, coding, and reimbursement,” said Larry Jasinski, CEO of Lifeward. “With this clarity, physicians can now prescribe the ReWalk Personal Exoskeleton with confidence that Medicare patients will have an established reimbursement pathway, allowing us to accelerate the process of providing our devices to the people who need them.”

The finalization of the payment level follows the previous determination by CMS through rulemaking that personal exoskeletons such as the ReWalk Personal Exoskeleton fall within the brace benefit category, which is reimbursed by Medicare on a lump sum basis. The final payment determination was made by CMS through a “gap filling” process after CMS determined that lower extremity exoskeletons incorporate “revolutionary features” that cannot be described by any existing code or combination of codes. The final payment rate is in effective for Medicare claims with dates of service on or after April 1, 2024.