American Shared Hospital Services Announces Final 2015 CMS Gamma Knife and Proton Reimbursement Rates
November 03 2014 - 12:09PM
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 its
final Medicare hospital outpatient prospective payment rates for
calendar year 2015. The rates for Gamma Knife and proton therapy
remained as proposed earlier this year.
Effective January 1, 2015, CMS has established a comprehensive
Ambulatory Payment Classification (APC) for both Gamma Knife and
LINAC one session cranial radiosurgery. The comprehensive
reimbursement rate of approximately $9,768 will be inclusive of the
delivery and ancillary codes but exclusive of co-insurance payments
or other adjustments. The average current CMS reimbursement rate
for delivery and ancillary codes (exclusive of co-insurance and
other adjustments) is approximately $5,600. This represents an
estimated increase of $4,168 per Medicare Gamma Knife treatment
(exclusive of co-insurance and other adjustments) effective January
1, 2015.
Also, CMS’s final 2015 proton therapy delivery code rates per
daily session are $515 ($872 in 2014) for a simple treatment
without compensation, $1,056 ($872 in 2014) for a simple treatment
with compensation, and $1,056 ($1,205 in 2014) for an intermediate
or complex treatment.
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 a common stock investment 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, the risks of developing The Operating Room for the 21st
Century program, the risks of investing in a development-stage
company, Mevion Medical Systems, Inc., and the risks of the timing,
financing, and operations of the Company’s proton therapy business.
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, 2013, the Form 10-Q for the quarters ended March 31, 2014 and
June 30, 2014, and the definitive Proxy Statement for the Annual
Meeting of Shareholders held on June 10, 2014.
American Shared Hospital ServicesErnest A. Bates, M.D.,
(415) 788-5300Chairman and Chief Executive Officereabates@ashs.comorBerkman AssociatesNeil
Berkman, (310) 477-3118Presidentinfo@berkmanassociates.com
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