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 2016.
CMS’s proposed 2016 proton therapy delivery code rates per daily session are $519, a 2.1% increase ($508 in 2015) for a simple treatment without compensation, $1,152, a 7.5% increase ($1,072 in 2015) for a simple treatment with compensation, and $1,152, a 7.5% increase ($1,072 in 2015) for an intermediate or complex treatment.
Also, CMS is proposing a modification of the comprehensive APC for both Gamma Knife and LINAC one session cranial radiosurgery. The proposed comprehensive reimbursement rate of approximately $7,347 will be inclusive of the delivery and certain ancillary codes but exclusive of co-insurance payments or other adjustments. CMS further proposes that effective in 2016, treatment planning and MRI treatment imaging codes again be billed and reimbursed separately. The average proposed 2016 CMS reimbursement rate for delivery and separately reimbursable ancillary codes (exclusive of co-insurance and other adjustments) is estimated at $8,827 compared to the current rate of $9,768, a decrease of 9.6%.
CMS will accept comments on these proposals until August 31, 2015 and will respond and publish a final rule in late 2015 to be effective January 1, 2016.
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, 2014, the Quarterly Report on Form 10-Q for the quarter ended on March 31, 2015 and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 16, 2015.