Shockwave Medical announced today that the Centers for Medicare & Medicaid Services (CMS) has issued new codes for intravascular lithotripsy (IVL) procedures performed in peripheral arteries in both the hospital outpatient and inpatient settings.
The new Healthcare Common Procedure Coding System (HCPCS) outpatient and International Classification of Diseases, Tenth Revision, Procedure Coding System (ICD-10-PCS) inpatient codes will go into effect on 1 July 1 October 1 2020, respectively. Under these new codes, Medicare payment rates for IVL procedures performed in the hospital outpatient and inpatient settings, respectively, are consistent with current payment levels for other similar peripheral artery interventional procedures.
“The decision by CMS to assign codes for peripheral IVL procedures in both outpatient and inpatient settings is an important validation of Shockwave’s technology as a unique and distinct therapy for treating complex calcified disease in the peripheral arteries,” said Doug Godshall, president and chief executive officer of Shockwave Medical.
He continued: “We look forward to continued engagement with CMS as these new codes will now enable the collection of cost data specific to IVL procedures, which is the information the agency utilises when making future adjustments to procedure payment levels. The appreciation for IVL’s unique ability to safely and effectively treat these challenging patients is growing globally and we are grateful that CMS has taken this important first step on the path towards establishing a reimbursement level that appropriately reflects the clinical value delivered by IVL.”
For more information and a complete listing of codes, please go to https://shockwavemedical.com/reimbursement/.