Shockwave Medical Inc (SWAV)

[Whalatane]

New Technology Add-on Payment (NTAP) Included in Proposed Fiscal Year 2022 Rule

SANTA CLARA, CALIF., April 27, 2021 (GLOBE NEWSWIRE) -- Shockwave Medical, Inc. (NASDAQ: SWAV), a pioneer in the development of Intravascular Lithotripsy (IVL) to treat severely calcified cardiovascular disease, announced today that the Centers for Medicare and Medicaid Services (CMS) published the Fiscal Year 2022 Hospital Inpatient Prospective Payment System (IPPS) Proposed Rule, which recommended that coronary IVL cases be eligible for incremental payment via a New Technology Add-On Payment (NTAP) from CMS when performed in the hospital inpatient setting. The proposed annual rule is now open for public comment and is expected to be finalized and in effect by October 1, 2021.

NTAP is a program designed by CMS to provide payment for qualifying new technologies in order to facilitate patient access to the new technology while CMS collects cost data. The NTAP program is intended to cover the majority of excess costs related to the new technology, though payment varies on a case-by-case basis. In its proposed ruling, CMS noted that coronary IVL is an FDA-designated Breakthrough Device that has met all the requirements for an NTAP and proposed that the maximum amount of NTAP payment for a procedure involving coronary IVL is an additional $3,666 to the hospital’s Medicare Severity Diagnosis Related Group (MS-DRG) payment.

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