Inspire Medical Systems, Inc. Announces Positive Coverage Policy Issued by Anthem for Inspire Therapy

Rhea-AI Summary

Inspire Medical Systems (NYSE: INSP) announced that Anthem will provide coverage for its Inspire therapy, effective May 20, 2021. This decision expands access to Inspire therapy for patients with obstructive sleep apnea (OSA), complementing existing Medicare coverage across the U.S. With Anthem's coverage, Inspire therapy is now included in 64 commercial insurance plans, covering approximately 262 million members. Tim Herbert, CEO of Inspire, highlighted this achievement as a significant step in improving treatment options for OSA patients who cannot benefit from CPAP.

Positive

• Anthem's coverage decision expands access to Inspire therapy for OSA patients.
• Inspire therapy now covered by a total of 64 commercial insurance plans, reaching 262 million members.
• Existing Medicare coverage across the United States enhances the therapy's accessibility.

Negative

• None.

MINNEAPOLIS, May 20, 2021 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) ("Inspire"), a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea (“OSA”), announced today that Anthem, Inc. (“Anthem”) will provide coverage for the Company’s Inspire therapy, effective May 20, 2021. Anthem is a leading health benefits company dedicated to improving lives and communities and making healthcare simpler that, through its affiliated companies, serves 42 million individuals within its family of health plans.

“We are pleased to receive this positive coverage decision from Anthem, bringing the total to 64 commercial insurance plans, representing approximately 262 million members, that cover Inspire therapy,” said Tim Herbert, President and Chief Executive Officer of Inspire Medical Systems. “Anthem was providing approval through the prior authorization process and conducted a mid-cycle review of the Inspire technology, resulting in this positive coverage policy. This positive coverage decision provides additional OSA patients who are unable to benefit from CPAP the opportunity to gain access to Inspire therapy.”

In addition to these commercial coverage policies, Inspire therapy also has Medicare coverage across the entire United States.

About Inspire Medical Systems

Inspire is a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire therapy is the first and only FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

For additional information about Inspire, please visit www.inspiresleep.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ “future,” “outlook,” “guidance,” ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential,’’ ‘‘continue,’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.

These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release can be found under the captions “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations“ in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020 filed with the SEC, and as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investors page of our website at www.inspiresleep.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor & Media Contact:
Bob Yedid
LifeSci Advisors
646-597-6989
Bob@LifeSciAdvisors.com

FAQ

What recent coverage announcement was made by Inspire Medical Systems?

Inspire Medical Systems announced that Anthem will provide coverage for its Inspire therapy, effective May 20, 2021.

How many insurance plans cover Inspire therapy as of May 2021?

As of May 2021, Inspire therapy is covered by 64 commercial insurance plans, representing approximately 262 million members.

Is Inspire therapy covered by Medicare?

Yes, Inspire therapy has Medicare coverage across the entire United States.