Categories: MedicaidMedicareNews

CVRx Announces Increased Inpatient Payment for Barostim Procedure

MINNEAPOLIS, Aug. 02, 2024 (GLOBE NEWSWIRE) — CVRx, Inc. (NASDAQ: CVRX) (“CVRx”), a commercial-stage medical device company, announced today that Centers for Medicare and Medicaid Services (CMS) has reassigned the Barostim implant procedure for the inpatient setting as part of the Fiscal Year (FY) 2025 Medicare Hospital Inpatient Prospective Payment System (IPPS) final rule.

In FY 2024, Barostim was assigned to MS-DRGs 252, 253, 254 with a national average payment range of $17,000-$23,000. For FY 2025, Barostim will be reassigned to MS-DRG 276, which carries a national average payment of approximately $43,000. The new payment takes effect Oct. 1, 2024.

“We applaud CMS’ consideration and recognition of the resource requirements associated with the Barostim implant procedure. We believe that reassignment to MS-DRG 276 will facilitate increased access to the therapy for patients with heart failure by establishing sufficient reimbursement for the procedure when performed in an inpatient setting,” said Kevin Hykes, President and CEO of CVRx.

About CVRx, Inc.
CVRx is focused on the development and commercialization of the Barostim™ System, the first medical technology approved by FDA that uses neuromodulation to improve the symptoms of heart failure. Barostim is an implantable device that delivers electrical pulses to baroreceptors located in the wall of the carotid artery. Baroreceptors activate the body’s baroreflex, which in turn triggers an autonomic response to the heart. The therapy is designed to restore balance to the autonomic nervous system and thereby reduce the symptoms of heart failure. Barostim received the FDA Breakthrough Device designation and is FDA-approved for use in heart failure patients in the U.S. It has also received the CE Mark for heart failure and resistant hypertension in the European Economic Area. To learn more about Barostim, visit www.cvrx.com.

Media Contact:

Laura O’Neill
Finn Partners 917.497.2867
laura.oneill@finnpartners.com

Investor Contact:

Mark Klausner or Mike Vallie
ICR Westwicke
443.213.0501
ir@cvrx.com

Staff

Recent Posts

Exdion Health Launches New Platform Within Its AI Tech Suite to Provide Realtime Business Intelligence and Actionable Analytics

ProMaxAI enables urgent care centers to operate more efficiently and profitablyPLANO, Texas--(BUSINESS WIRE)--Exdion Health, a…

1 hour ago

AventaMed, a KARL STORZ Company, Gains FDA Clearance for Solo+™ Ear-Tube Placement Device

TUTTLINGEN, Germany--(BUSINESS WIRE)--Chronic ear infections are a leading reason for doctor visits and surgical procedures…

1 hour ago

Exdion Health Launches New Platform Within Its AI Tech Suite to Provide Realtime Business Intelligence and Actionable Analytics

ProMaxAI enables urgent care centers to operate more efficiently and profitablyPLANO, Texas--(BUSINESS WIRE)--Exdion Health, a…

1 hour ago

AventaMed, a KARL STORZ Company, Gains FDA Clearance for Solo+™ Ear-Tube Placement Device

TUTTLINGEN, Germany--(BUSINESS WIRE)--Chronic ear infections are a leading reason for doctor visits and surgical procedures…

1 hour ago

Lindus Health Unveils “All-in-One Dermatology CRO” Offering for Dermatology Clinical Trials

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Lindus Health, the "anti-CRO" running radically faster, more…

1 hour ago

PrimeRx Announces Partnership with Legacy Pharmacy Group

UNIONDALE, N.Y., Aug. 6, 2024 /PRNewswire/ -- PrimeRx, an industry-leading provider of pharmacy management software…

1 hour ago