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Fly News Breaks for July 26, 2019
IRTC
Jul 26, 2019 | 15:44 EDT
The American Medical Association released CPT Editorial Panel agenda materials for its September meeting, noted RBC Capital analyst Brandon Henry, who has an Outperform rating on iRhythm. Included was codes 0295T-0298T, which have been requested to move to a Category I code, which the panel will decide in September whether to approve, request further study, decline, or postpone moving. Henry believes the code will be approved. The analyst believes the major overhang for iRhythm shares is "what will happen to reimbursement when iRhythm's temporary reimbursement code transitions from a Category III to a Category I CPT code." Henry added that "some investors believe that reimbursement could be cut dramatically once the code changes."
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