Hillrom Comments On Novitas Reimbursement Decision
Hillrom (NYSE: HRC) announced its plans to acquire Bardy Diagnostics, a leader in ambulatory cardiac monitoring. On January 29, 2021, Novitas Solutions released new reimbursement rates for CPT codes related to extended holter cardiac monitoring. Hillrom is evaluating these changes but has not made further comments. The company emphasizes its commitment to long-term shareholder value and will update stakeholders as more information becomes available.
- Hillrom intends to enhance its product offerings through the acquisition of Bardy Diagnostics, potentially increasing market share in cardiac monitoring.
- New reimbursement rates from Novitas Solutions may facilitate broader adoption of Hillrom's advanced cardiac monitoring solutions.
- Hillrom has not provided specific details on how the new reimbursement rates may impact its financials; uncertainty remains regarding the practical implications of these rates.
- The current situation with reimbursement rates is described as 'fluid,' indicating potential volatility that could affect revenue streams.
CHICAGO, Jan. 31, 2021 /PRNewswire/ -- Hillrom (NYSE: HRC) previously announced its intention to acquire Bardy Diagnostics, Inc. (BardyDx), an innovator in digital health and a leading provider of ambulatory cardiac monitoring. On January 29, 2021, a Medicare Administrative Contractor (MAC), Novitas Solutions, published newly established, Category 1 reimbursement rates applicable to the Current Procedural Terminology (CPT) codes for the extended holter cardiac monitoring category, including CPT codes 93241, 93243, 93245 and 93247. Hillrom is currently assessing the recent reimbursement rate decision, monitoring the fluid situation, and cannot comment further at this time. Hillrom remains committed to creating long-term shareholder value and will provide an update when more definitive information is available.
About Hillrom
Hillrom is a global medical technology leader whose 10,000 employees have a single purpose: enhancing outcomes for patients and their caregivers by Advancing Connected Care™. Around the world, our innovations touch over 7 million patients each day. They help enable earlier diagnosis and treatment, optimize surgical efficiency and accelerate patient recovery while simplifying clinical communication and shifting care closer to home. We make these outcomes possible through digital and connected care solutions and collaboration tools, including smart bed systems, patient monitoring and diagnostic technologies, respiratory health devices, advanced equipment for the surgical space and more, delivering actionable, real-time insights at the point of care. Learn more at hillrom.com.
Disclosure Regarding Forward-Looking Statements
Certain statements in this release relating to Hillrom's future plans, objectives, beliefs, expectations, representations and projections, including but not limited to the BardyDx transaction and CPT coding decisions, Hillrom's expectations regarding government and third-party payor adoption of CPT coding decisions and the timing thereof and other statements relating to reimbursement coverage, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. It is important to note that forward-looking statements involve significant risks and uncertainties and are not guarantees of future performance, and Hillrom's actual results could differ materially from those set forth in any forward-looking statements. For a more in-depth discussion of factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in Hillrom's previously filed most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Hillrom assumes no obligation to update or revise any forward-looking statements, unless required by law.
CONTACT INFORMATION
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Contact: | Mary Kay Ladone, Senior Vice President, Corporate Development, Strategy and Investor Relations | Contact: | Lorna Williams, Executive Director, Investor Relations and Strategy |
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