“This newly proposed rule is highly relevant for our business and individuals with a spinal cord injury and reflects a positive step in facilitating the potential for Medicare coverage of personal exoskeletons, such as our Ekso Indego Personal, for qualified patients as a lump sum reimbursement,” said
The proposed CMS rule would codify the longstanding Medicare definition of brace to provide clarification on the scope of the Medicare Part B benefit for leg, arm, back, and neck braces, and as a result, would classify certain exoskeleton-type devices as braces for Medicare payment purposes. Currently, of the 294,000 individuals with spinal cord injury (“SCI”) prevalence1 only 56% of are covered by Medicare or Medicaid five years post injury.2 If approved, the proposed rule could significantly expand the addressable market for Ekso Indego Personal.
“My neurologist thinks my drastically reduced pain and improved quality of life are largely due to the Ekso Indego Personal,” said
Reference
1National Spinal Cord Injury Statistical Center, 2020 SCI Data Sheet, Spinal Cord Injury Facts and Figures at a Glance
2National Spinal Cord Injury Statistical Center SCIMS 2022 Annual Report
About Ekso Bionics®
Ekso Bionics® is a leading developer of exoskeleton solutions that amplify human potential by supporting or enhancing strength, endurance and mobility across medical and industrial applications. Founded in 2005, the Company continues to build upon its industry-leading expertise to design some of the most cutting-edge, innovative wearable robots available on the market.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements include, without limitation, statements regarding the terms and impact of the proposed CMS rules and the timing for the final CMS rules. Forward-looking statements can be identified by words such as “expect,” “continue,” “anticipate,” “estimate,” “believe,” “plan,” “projection,” “grow,” “potential,” “future,” “can,” “develop,” “proposition,” “position,” “expand” or words of similar meaning. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the final CMS rules being different that the proposed rules and the CMS rules not being finalized. These and other factors are identified and described in more detail in the Company's public filings with the
Contact:
David Carey
212-867-1768
investors@eksobionics.com
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