DANVERS, Mass., March 21, 2014 (GLOBE NEWSWIRE) -- Abiomed, Inc. (Nasdaq:ABMD), a leading provider of breakthrough heart support technologies, today announced that the Centers for Medicare & Medicaid Services (CMS) has released an updated version of ICD-10 MS-DRGs (version 31R) and maintained assignment to Diagnosis Related Groups (MS-DRGs) 216-221 for the category of devices that includes Impella® pumps.
CMS is transitioning from ICD-9 to ICD-10 coding system for all hospitals which is scheduled for implementation on October 1, 2014. As a result of this transition, CMS recently released new tables outlining edits to ICD-10 MS-DRG (referred to as version 31R), which includes the category of Impella procedures in ICD-10 code 5A02(1,2)1D: "Assistance with Cardiac Output Using Impeller Pump," and maps those procedure codes to MS-DRGs 216 - 221.
Version 31R and related updates remove a prior proposal made in September 2013 as part of the ICD-10 transition, for code 02HL3DZ, which was also assigned to MS-DRG 216-221.
CMS stated in their public forum that the final ICD-10 MS-DRG (referred to as version 32) will be available during the rule-making process for the Inpatient Prospective Payment System (IPPS) in April 2014.
Further information about the ICD-10 update is available on the CMS website: http://www.cms.gov/Medicare/Coding/ICD10/ICD-10-MS-DRG-Conversion-Project.html.
Based in Danvers, Massachusetts, Abiomed, Inc., is a leading provider of medical devices that provide circulatory support. Our products are designed to enable the heart to rest by improving blood flow and/or performing the pumping of the heart. For additional information please visit: www.abiomed.com
This release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities and expected regulatory approvals. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, including the potential for future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, litigation matters, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.
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