Myomo, Inc. Announces CMS Posts Proposed Medicare DMEPOS Fee Schedule Rate for the MyoPro for Review at the Upcoming HCPCS Public Meeting

Myomo, Inc. announced that the Centers for Medicare & Medicaid Services (CMS) posted a proposed Medicare Durable Medical Equipment, Prosthetics, Orthotics, and Supplies (DMEPOS) fee schedule payment rate for the MyoPro®? to be discussed at CMS' bi-annual Healthcare Common Procedure Coding System (HCPCS) Public Meeting, scheduled for November 29, 2023. CMS has proposed fee schedule rates for the two HCPCS codes describing the MyoPro, L8701, which is Motion W device, and L8702, which is Motion G device, of $31,745.42 and $62,457.28, respectively.

On November 1, 2023, CMS published its final rule that classifies the MyoPro as a brace and will enable reimbursement on a lump sum basis once the rule becomes effective on January 1, 2024. The preliminary payment determinations published by CMS for discussion at the public meeting are only proposed fee schedule rates. The Company cannot provide any assurance that these rates will be finalized and published in their current amounts, or at all.