CardioNet Provides Update on Mobile Cardiovascular Telemetry Reimbursement


November 6, 2009

November 4, 2009 – CardioNet Inc. said this week the Centers for Medicare and Medicaid Services (CMS) has not established a national pricing reimbursement rate for mobile cardiovascular telemetry (CPT Code 93229) in the Medicare final rule for the physician fee schedule for calendar year 2010. Reimbursement for mobile cardiovascular telemetry will continue to be carrier priced by Highmark Medicare Services (HMS).

“We are extremely disappointed that CMS has not established a national reimbursement rate for mobile cardiovascular telemetry and that it will continue to be regionally priced by HMS. CardioNet and other industry providers have now serviced nearly 400,000 patients nationally, of which a significant portion were Medicare patients," said Randy Thurman, chairman, president and chief executive officer of CardioNet. "Since the unexpected announcement by Highmark on July 10, 2009, we provided CMS and HMS with substantial data that we believe justified a significantly higher national reimbursement rate and we will continue to work with CMS on a national price for 2011.”

CMS also updated the national technical fees for event and Holter monitoring for the calendar year 2010. Event monitoring (CPT Code 93271) and Holter monitoring (CPT Code 93226) reimbursement will be reduced approximately 7 percent and 16 percent, respectively, compared to the 2009 rates.

CardioNet provides ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health. CardioNet's initial efforts are focused on the diagnosis and monitoring of cardiac arrhythmias, or heart rhythm disorders, with a solution that it markets as Mobile Cardiac Outpatient Telemetry (MCOT).

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