American Shared Hospital Services Announces Revised 2014 Gamma Knife Reimbursement Rates Proposed by CMS
September 04 2013 - 3:08PM
Business Wire
AMERICAN SHARED HOSPITAL SERVICES (NYSE MKT:AMS),
a leading provider of turnkey technology solutions for advanced
radiosurgical and radiation therapy services, announced today that
the Centers for Medicare and Medicaid Services (CMS) has posted a
revision of the previously proposed rule for Medicare's hospital
outpatient prospective payment system for calendar year 2014.
Within this proposed rule, CMS proposes updates for the delivery
codes used for stereotactic radiosurgery (SRS), including Gamma
Knife services.
On August 28, 2013, CMS revised its previously proposed delivery
code rate to reimburse hospitals for a complete course of treatment
comprised of a single session of SRS to $5,615, a 70% increase over
the current rate. CMS, on July 8, 2013, initially proposed to
reimburse hospitals at $8,576 in 2014, an increase of 160% over the
current rate. Effective April 1, 2013, CMS Gamma Knife delivery
code reimbursement was reduced to $3,300 from the previous rate of
$7,910.
This CMS proposed reimbursement rate is subject to comments from
interested parties and could change. The Company intends to review
data revising the rate and comment to CMS on the proposed changes.
Final CMS reimbursement rates are anticipated to be issued in fall
2013.
About AMS
American Shared Hospital Services provides turnkey technology
solutions for advanced radiosurgical and radiation therapy
services. AMS is the world leader in providing Gamma Knife
radiosurgery equipment, a non-invasive treatment for malignant and
benign brain tumors, vascular malformations and trigeminal
neuralgia (facial pain). The Company also offers the latest IGRT
and IMRT systems, as well as its proprietary Operating Room for the
21st CenturySM concept. AMS owns common stock in Mevion Medical
Systems, Inc., developer of the compact MEVION S250 Proton Therapy
System.
Safe Harbor Statement
This press release may be deemed to contain certain
forward-looking statements with respect to the financial condition,
results of operations and future plans of American Shared Hospital
Services, which involve risks and uncertainties including, but not
limited to, the risks of the Gamma Knife and radiation therapy
businesses. Further information on potential factors that could
affect the financial condition, results of operations and future
plans of American Shared Hospital Services is included in the
filings of the Company with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the year
ended December 31, 2012, the Quarterly Report on Form 10-Q for the
quarters ended on March 31, 2013 and June 30, 2013, and the
definitive Proxy Statement for the Annual Meeting of Shareholders
held on June 11, 2013.
American Shared Hospital ServicesErnest A. Bates, M.D.,
415-788-5300Chairman and Chief Executive Officere.bates@ashs.comorBerkman AssociatesNeil
Berkman, 310-477-3118Presidentinfo@berkmanassociates.com
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