-- Reimbursement at $23,900, slightly below list price --
-- Represents a significant milestone toward increasing accessibility of PoNS --
NEWTOWN, Pa., May 29, 2024 (GLOBE NEWSWIRE) -- Helius Medical Technologies, Inc. (Nasdaq:HSDT) ("Helius" or the "Company"), a neurotech company focused on delivering a novel therapeutic neuromodulation approach for balance and gait deficits, today announced the first third-party reimbursement from a major insurance carrier for the Company's Portable Neuromodulation Stimulator (PoNS) device.
"Securing widespread reimbursement for PoNS remains a top priority for us, and we are thrilled to announce that we've received our first third-party reimbursement for this innovative device at the list price with a 7% rebate by a major insurance carrier," said Dane Andreeff, President and Chief Executive Officer of Helius. "Following Centers for Medicare & Medicaid Services' (CMS) establishment of unique Healthcare Common Procedure Coding System codes for the PoNS mouthpiece and controller, we have been actively negotiating reimbursement with third-party payers and for patients covered by the Veterans Administration and the Department of Defense through our recent partnership with Lovell Government Services."
"We believe this is yet another important milestone in establishing the market pricing for PoNS as we continue to negotiate with other third-party payers and CMS. In addition, we are assisting several MS patients who have or are preparing to submit claims with other third-party payers and look forward to establishing reimbursement rates with those carriers as we move forward," concluded Andreeff.
The reimbursed rate, net of a 7% rebate, results in pricing of $16,554 for the controller and $7,347 for the mouthpiece, exclusive of rounding.