The Centers for Medicare & Medicaid Services this week finalized some of its coverage decisions for 2015, adding new payments for Abbott (NYSE:ABT) and St. Jude Medical (NYSE:STJ) devices.
Both companies won “New Technology Add-On Payment” (NTAP) coverage for their devices, a type of reimbursement that helps cover expensive, breakthrough products that aren’t sufficiently covered under regular classifications. NTAP coverage adds to existing reimbursement for a device through the standard diagnosis-related group classifications.
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