November 10, 2021 — Shockwave Medical, a developer of Intravascular Lithotripsy (IVL) to treat complex calcified peripheral and coronary artery disease, announced that as part of the calendar year 2022 Medicare Hospital Outpatient Prospective Payment System (OPPS) final rule, the Centers for Medicare & Medicaid Services (CMS) has reassigned the payment for peripheral IVL procedures performed on above the knee (ATK) arteries in the hospital outpatient setting. The resulting payment increases will become effective Jan. 1, 2022.
As part of the 2022 OPPS final rule, CMS has announced new Ambulatory Payment Classification (APC) assignments for three Healthcare Common Procedure Coding System (HCPCS) codes that describe peripheral IVL procedures performed in lower extremity arteries in the outpatient hospital setting. The three HCPCS codes affected describe procedures in iliac, femoral and popliteal arteries when IVL is performed by itself or adjunctively with drug coated balloons (DCB), stents or atherectomy. The new APC assignments will increase the payments hospitals receive for these procedures.
“We appreciate CMS’s collaborative relationship and their swift action in reassigning payment levels for IVL performed above the knee, as the data acknowledge the resources associated with performing IVL in these patients. Importantly, we believe the APC reassignment of these HCPCS codes and subsequent increased payment for IVL procedures performed ATK will further facilitate access to IVL technology for Medicare patients,” said Doug Godshall, president and chief executive officer of Shockwave Medical. “We would like to acknowledge CMS for making an exception to this year’s standard ratesetting process by considering calendar year 2020 data when determining appropriate payment levels for the new peripheral IVL code set. We are also grateful for the support that came from CMS’ Hospital Outpatient Physician Advisory panel and medical societies during the public comment period.”
For more information: www.shockwavemedical.com