On May 2, the Centers for Medicare and Medicaid Services (CMS or the Agency) announced in a press release that it will be changing how frequently the Agency reviews applications for new and revised Level II codes under the Healthcare Common Procedure Coding System (HCPCS). Specifically, CMS stated that the Agency “is moving to a process with quarterly opportunities to apply for drugs, and semi-annual opportunities to apply for devices.”
CMS Administrator Seema Verma discussed this change, among other policies and proposals relating to coverage, coding and payment, in a speech to the Medical Device Manufacturers Association that outlined CMS’s “plan for Fostering Innovation.” According to CMS, these efforts are part of the Agency’s “comprehensive strategy to improve patients’ access to emerging technologies” and are intended “to unleash innovation in our healthcare system.” An overview of key updates addressed in Administrator Verma’s remarks follows below. For certain payment proposals relating to new technology add-on payments, CMS is currently accepting public comments through June 24, 2019.
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