iRhythm® Technologies Announces Conference Call to Discuss Medicare Administrative Contractor (MAC) Novitas’s Updated Rate Publication

Rhea-AI Summary

iRhythm Technologies (NASDAQ: IRTC) announced a conference call to discuss Novitas Solutions' updated reimbursement rates for CPT codes 93243 and 93247, published on April 10, 2021. The new rates are retroactive to January 1, 2021, at $103 and $115, replacing earlier rates from January 29, 2021. iRhythm is evaluating the impact of these changes and will provide insights during the call on April 12, 2021. This announcement highlights the company's focus on enhancing cardiac care through innovative digital health solutions.

Positive

• Updated reimbursement rates for CPT codes 93243 and 93247 at $103 and $115, respectively.
• New rates are retroactive to January 1, 2021, potentially increasing revenue.

Negative

• None.

SAN FRANCISCO, April 10, 2021 (GLOBE NEWSWIRE) -- iRhythm Technologies, Inc. (NASDAQ: IRTC), a leading digital health care solutions company focused on the advancement of cardiac care, today announced that it will host a conference call to discuss the recent publication by Novitas Solutions (“Novitas”) of rates applicable to the Current Procedural Terminology (CPT) codes 93243 and 93247.

On April 10, 2021, Novitas published updated reimbursement rates for codes 93243 and 93247 at $103 and $115, respectively. The updated rates are retroactive to January 1, 2021 and replace rates initially published on January 29, 2021. iRhythm is assessing the impact of the updated Novitas rates on its business and will provide comments on a conference call on April 12, 2021.

Webcast and Conference Call Information
iRhythm will host a conference call on April 12, 2021 at 5:30 AM PT / 8:30 AM ET to provide commentary on the newly published rates by Novitas. Investors interested in listening to the conference call may do so by accessing the live and archived webcast of the event available on the “Investors” section of the company’s website at: www.irhythmtech.com.

About iRhythm Technologies, Inc.
iRhythm is a leading digital health care company redefining the way cardiac arrhythmias are clinically diagnosed. The company combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company believes improvements in arrhythmia detection and characterization have the potential to change clinical management of patients.

Investor Relations Contact
Leigh Salvo
(415) 937-5404
investors@irhythmtech.com

Media Contact
Morgan Mathis
310-528-6306
irhythm@highwirepr.com

FAQ

What are the updated reimbursement rates for iRhythm's CPT codes 93243 and 93247?

The updated reimbursement rates for CPT codes 93243 and 93247 are $103 and $115, respectively.

When will iRhythm discuss the impact of the new reimbursement rates?

iRhythm will discuss the impact of the new reimbursement rates during a conference call on April 12, 2021.

What is the significance of the Novitas Solutions' updated rates for IRTC?

The significance lies in potentially increased revenue for iRhythm, as the rates are retroactive to January 1, 2021.