IRhythm Technologies comments on health insurance centers and

SAN FRANCISCO, November 02, 2021 (GLOBE NEWSWIRE) – iRhythm Technologies, Inc. (NASDAQ: IRTC) (“iRhythm”), a leading digital healthcare solutions company focused on advancing heart care, commented today Today, the Centers for Medicare and Medicaid Services (CMS) Calendar Year 2022 Medicare Physician Fee Schedule (MPFS) Final Rule. The final rule and accompanying addenda were released on November 2, 2021, along with updated payment policies, payment rates, and other provisions for services provided under the MPFS on or after 1 January 2022.

In the final rule, CMS did not publish national pricing and ongoing operator pricing for calendar year 2022 on Category I CPT codes 93241, 93243, 93245 and 93247 for extended external ECG monitoring, codes relevant to the company’s Zio XT service.

iRhythm and other industry participants worked with Medicare Administrative Contractors (MACs) to price these codes. iRhythm remains engaged with all MACs and works with other industry participants to submit additional cost data on long-term continuous ECG monitoring for review in order to establish fair and appropriate local rates. iRhythm assesses the new information included in the final rule and its potential implications for discussions with MACs. iRhythm cannot provide certainty at this time on the potential outcome of discussions with MACs or on the timing of any action to be taken.

“While we are disappointed that national prices have not been included in the 2022 Physician Fee Schedule, we appreciate that CMS continues to engage with industry and other stakeholders to deepen their understanding of the components. cost of AI-based solutions such as iRhythm’s Zio service. We strongly believe that national pricing remains the best option for all stakeholders, ”said Quentin Blackford, President and CEO of iRhythm. “In the meantime, we will continue to work with MACs to provide insight into the 2022 calendar year pricing process and believe the final rule is potentially constructive in our conversations with MACs. We will share updates at the appropriate time.

iRhythm will provide further commentary, including remarks on this latest CMS move, during its third quarter 2021 earnings call on Thursday, November 4, 2021 at 1:30 p.m. PT / 4:30 p.m. ET. Investors interested in listening to the conference call can do so by accessing the live, archived webcast of the event available in the “Investors” section of the Company’s website at: www.irhythmtech.com.

About iRhythm Technologies, Inc.
iRhythm is a leading digital healthcare company redefining the way cardiac arrhythmias are diagnosed clinically. The company combines portable 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 that improvements in the detection and characterization of arrhythmias have the potential to change the clinical management of patients.

Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements include statements relating to coverage and reimbursement reimbursement. rates. These statements are based on current assumptions which involve risks and uncertainties which could cause actual results to differ materially. These risks and uncertainties, many of which are beyond our control, include the risks described in the section entitled “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission on Forms 10-K and 10-Q. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. iRhythm disclaims any obligation to update these forward-looking statements.

Investor Relations Contact
Leigh salve
(415) 937-5404
[email protected]

Media contact
Morgan mathis
(310) 528-6306
[email protected]

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