05:26 PM EDT, 04/01/2024 (MT Newswires) -- Lifeward (LFWD) Chief Executive Larry Jasinski said Monday in an open letter to shareholders that it is working with the Centers for Medicare & Medicaid Services, or CMS, to set a payment rate for ReWalk exoskeletons "as soon as possible."

Jasinski previously disclosed that a payment rate for exoskeletons was deferred by the agency in final determination so it could get additional information about pricing.

"We have worked very closely with the agency to review the invoice and transaction information that we had previously submitted and provide supplemental data or explanations as additional questions arise," Jasinski said.

CMS has indicated to the company that once a final payment rate is determined, the agency can amend the April 2024 Durable Medical Equipment, Prosthetics, Orthotics and Supplies fee schedule so the payment rate for exoskeletons can be established for the rest of 2024. This means the establishment of a payment rate does not need to be delayed until the next HCPCS cycle.