SAN FRANCISCO--(BUSINESS WIRE)--American Shared Hospital Services (NYSE American: AMS) (the "Company"), 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 2019.
CMS’s proposed 2019 proton therapy delivery code rates per daily session are $530.43, a 1.6% increase ($522.31 in 2018) for a simple treatment without compensation, and $1,081.08, a 2.6% increase ($1,053.52 in 2018) for a simple treatment with compensation, or an intermediate or a complex treatment.
Also, CMS is proposing a 2.9% increase in the comprehensive reimbursement rate for the Gamma Knife in 2019.
CMS will accept comments on these proposals until September 24, 2018 and will publish final rates in late 2018 to be effective January 1, 2019.
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 proton therapy, and the latest IGRT and IMRT systems.
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 (including statements regarding the expected continued growth in volume of the MEVION S250 system, the expansion of the Company's proton therapy business, and the timing of treatments by new Gamma Knife systems) which involve risks and uncertainties including, but not limited to, the risks of variability of financial results between quarters, the risks of the Gamma Knife and radiation therapy businesses, the risks of developing The Operating Room for the 21st Century program, 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, 2017, its quarterly report on Form 10-Q for the three months ended March 31, 2018 and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 14, 2018.