Iryna Drozd/iStock via Getty Images CVRx ( NASDAQ: CVRX ) stock plunged 31% while Sight Sciences ( NASDAQ: SGHT ) shares jumped 14% following the release of the U.S. government’s proposed Medicare reimbursement rules for calendar year 2025.
Under the proposed rules, reimbursement for CVRx’s Barostim has been reduced by 38.1% for Ambulatory Surgery Center, or ASC, services and by 32.9% for Hospital Outpatient Department, or HOPD, services, according to a note released by Piper Sandler on Wednesday.
“While this does appear significant, we note the company successfully navigated a similar proposed cut in the past and CY ’25 rules are not yet finalized," Piper analysts wrote in their note. The proposed rules would also increase the ASC reimbursement rate for Sight’s OMNI franchise by 29%. The HOPD rate would increase by 4%, Piper added.
The Centers for Medicare and Medicaid Services released the proposed payment rates on Wednesday. More on CVRx, Sight Sciences, etc. Sight Sciences, Inc.
(SGHT) Q1 2024 Earnings Call Transcript CVRx, Inc. (CVRX) Q1 2024 Earnings Call Transcript CVRx stock plunges 42% in wake of Q1 report, updated forecast Seeking Alpha’s Quant Rating on CVRx Historical earnings data for CVRx.
