Helius Medical Technologies Updates on PoNS Device Reimbursement
Helius Medical Technologies' Latest Reimbursement Updates
Helius Medical Technologies, Inc. is making waves with the recent announcements regarding the Centers for Medicare & Medicaid Services (CMS) payment determinations for its Portable Neuromodulation Stimulator (PoNS) Controller and Mouthpiece. As a leader in neurotech, Helius is dedicated to providing innovative solutions for those dealing with significant balance and gait impairments.
CMS Payment Rate for PoNS Mouthpiece
A notable update is the CMS's reimbursement determination for the PoNS Mouthpiece (HCPCS code A4594) set at $2,963.30. This lump-sum payment is a pivotal change that Helius intends to challenge. The company has expressed dissatisfaction with the pricing, which was anticipated to take effect on January 1, 2025. Helius argues that their substantial investment in research and development should reflect more equitable pricing in the market.
Helius' Commitment to Advocacy
Dane Andreeff, President and CEO of Helius, articulated the company’s concerns regarding CMS’s methods for determining these reimbursement rates, particularly for the PoNS Mouthpiece and Controller. The company is preparing to present compelling data to CMS, demonstrating the true value of their technology, which was designated as a Breakthrough Device by the FDA nearly four years ago.
Deferred Determination for PoNS Controller
In conjunction with the reimbursement announcement for the Mouthpiece, CMS has deferred their final determination for the PoNS Controller (HCPCS Code A4593) to the next payment cycle. This decision follows a prior indication that established its preliminary reimbursement rate at a capped payment of $519.80. Helius is critical of this comparison to TENS devices and is staunchly defending its product's unique applications in treating gait deficits.
Upcoming Public Meetings
Helius plans to engage with CMS in upcoming public meetings to argue the distinctions between the PoNS Controller and TENS devices, reinforcing the device's innovative approach to neuromodulation. The community remains focused on the value that the PoNS technology brings to individuals impacted by neurological disorders.
Innovative Therapy for Balance and Gait Deficits
The Portable Neuromodulation Stimulator represents a breakthrough in treating gait and balance issues, especially for patients suffering from multiple sclerosis (MS). The device operates via a mouthpiece linked to a controller, offering neurostimulation to improve physiological functioning in patients undergoing physical rehabilitation.
Positive Outcomes in Clinical Trials
PoNS has demonstrated promising results in terms of gait improvement and reducing fall risk in stroke patients in Canada, where it has received authorization for multiple indications. The therapy addresses several conditions related to traumatic brain injury and MS, showcasing its versatility and efficacy.
Future of Helius Medical Technologies
Looking ahead, Helius Medical Technologies is not only focused on securing fair reimbursement rates but also on expanding its product pipeline. The company’s goal is to enhance the therapeutic landscape for neurological rehabilitation. CEO Dane Andreeff has highlighted the potential growth of revenue as more patients gain access to PoNS, emphasizing the importance of overcoming reimbursement hurdles.
Contact Information for Investors
For further inquiries regarding Helius Medical Technologies and its innovative products, interested parties are encouraged to reach out to Philip Trip Taylor of Gilmartin Group via email. This connection can provide insights into the company’s vision and upcoming initiatives.
Frequently Asked Questions
What is the main focus of Helius Medical Technologies?
Helius Medical Technologies specializes in developing neuromodulation therapies to address balance and gait deficits in patients with neurological conditions.
What updates has CMS provided regarding the PoNS device?
CMS announced a reimbursement rate for the PoNS Mouthpiece and has deferred its decision on the PoNS Controller to the next payment cycle, underlining the complexity of establishing fair payment rates.
How does the PoNS device aid patients?
The PoNS device delivers neurostimulation through a mouthpiece to improve balance and gait, primarily used in conjunction with physical rehabilitation exercises.
What is the anticipated impact of the reimbursement decisions?
Helius believes that securing fair reimbursement rates will enhance patient access to PoNS technology, driving revenue growth and facilitating positive cash flow generation.
Who can I contact for investor relations inquiries?
Investors can reach out to Philip Trip Taylor from Gilmartin Group for any inquiries related to Helius Medical Technologies and their development plans.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
Related Articles
- CTS Corporation Prepares for Upcoming Earnings Release and Call
- Exploring AWS's Impact on Asia Pacific's Digital Evolution
- DexCom, Inc. Investors: Important Class Action Deadline Ahead
- Elon Musk's $500,000 Donation Spurs Cannabis Legalization Debate
- Investor Concerns Raise Issues on Verizon's Frontier Deal
- Impact of Israeli Military Plans on Crude Oil Prices Explained
- Exploring Carbon Fiber Recycling and Its Growing Market Potential
- Tevogen Bio's Visionary Steps Towards Enhancing Shareholder Transparency
- Legal Investigations Encourage Participation for Long-Term Investors
- Massive Insurance Losses from Hurricanes Rise to $55 Billion
Recent Articles
- Bel Fuse Inc. Welcomes Uma Pingali as Global Sales Leader
- Atossa Therapeutics Announces Participation in 2024 Healthcare Summit
- Helen Masters Takes Leadership Role at Smartsheet in APJ Region
- Understanding the Ongoing Class Action Against Iris Energy Limited
- Top Wealth Group Holding Limited Successfully Completes $10.8M Offering
- Bitcoin Cash Surges as Cryptocurrency ETFs Attract Investors
- Seeking Justice: United Parcel Service Investors Class Action
- A Fresh Look at the Upcoming Growth in Alcoholic Beverages Market
- EnLink Midstream Announces Third Quarter Distribution Update
- A Comprehensive Look at the Growing Condiments Market
- Growth Surge in Ophthalmology Devices Market Due to AI Innovations and Demand
- Stephens Initiates Valvoline Coverage with Optimistic Outlook
- Moderna Faces Tough Times with Price Target Reduced to $55
- Market Reactions to Recent Developments in Key Stocks
- Top Wealth Group Secures $10.8 Million Through Share Offering
- GEICO Sets Up Inspection Sites in Florida After Hurricane
- Exploring the Dynamics of Roku's Options Trading Landscape
- Onto Innovation's Upcoming Q3 2024 Financial Results Overview
- Understanding MARA Holdings' Growing Options Market Trends
- Stewart Information Services to Discuss Q3 2024 Results Soon
- Investor Insights: Unpacking the Swan Song for HLT Options
- United Airlines Prepares for Q3 with New Routes and Challenges
- Goldman Sachs Predicts Stock Boost with Trump Victory
- CBL Properties Declares Significant Dividend and Expansion Plans
- DCG ONE Enhances Marketing Services with Cirangle Design Buyout
- Sanjiv Razdan Takes the Helm as CEO of The Joint Corp.
- PTC Therapeutics Advances with New Drug Application for PKU Drug
- Phillips 66 Divests Key Stake as Part of Strategic Restructuring
- Modine Manufacturing's New CIO Sets Strategic Digital Vision
- Winnebago's Strategic Shift: Leadership in Towable RVs
- Coty Inc. Sees Steady Growth Despite Market Challenges Ahead
- Leadership Changes in AI: Microsoft VP Moves to OpenAI
- Brazilian Stock Market Gains Strong Momentum Amid Diverse Sectors
- U.S. Stock Markets Surge: Key Players and Sector Highlights
- Tesla's Humans Behind Optimus Bots at Recent Robotaxi Showcase
- Sabadell Chair Highlights Risks of Banking Consolidation Effects
- The Joint Corp. Welcomes Sanjiv Razdan as New CEO
- Empowering Cybersecurity Training Through Real-World Scenarios
- Legacy Housing's Upcoming Earnings Call and What to Expect
- Shoals Technologies Group Set to Share Q3 Earnings Insights Soon
- Summary of Company Shares and Voting Rights Information
- Exploring Travere Therapeutics' Latest Insights into Kidney Health
- Tragic Tesla Crash Claims Four Lives in Fiery Incident
- Voting Rights and Share Information of the Company
- Travere Therapeutics Announces Key Data at ASN Kidney Week 2024
- Marijuana Stocks Soar: Body and Mind and Global Compliance Lead Gains
- Legacy Housing Corporation Sets Earnings Call for Q3 2024
- Housing Initiatives: Upcoming Announcements You Should Know
- Shoals Technologies Group to Share Upcoming Earnings Insights
- Wins for Winnebago: New Leadership for Towable RV Success