American Shared Hospital Services Announces Proposed 2015 CMS Gamma Knife and Proton Therapy Reimbursement Rates
SAN FRANCISCO--(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 proposed Medicare hospital outpatient prospective payment rates for calendar year 2015.
Effective January 1, 2015, CMS is proposing a comprehensive APC for both Gamma Knife and LINAC one session cranial radiosurgery. The proposed 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.
Also, CMS’s proposed 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.
CMS will accept comments on these proposals until September 2, 2014 and will respond and publish a final rule in November 2014 to be effective January 1, 2015.
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 and Form 10-K/A for the year ended December 31, 2013, the Quarterly Report on Form 10-Q for the quarter ended on March 31, 2014 and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 10, 2014.