{"id":518138,"date":"2021-07-27T08:33:22","date_gmt":"2021-07-27T12:33:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/myomo-receives-accreditation-from-hqaa\/"},"modified":"2021-07-27T08:33:22","modified_gmt":"2021-07-27T12:33:22","slug":"myomo-receives-accreditation-from-hqaa","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/myomo-receives-accreditation-from-hqaa\/","title":{"rendered":"Myomo Receives Accreditation from HQAA"},"content":{"rendered":"

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Myomo Receives Accreditation from HQAA<\/b><\/p>\n

BOSTON–(BUSINESS WIRE<\/a>)–Myomo, Inc. (NYSE American: MYO)<\/b> (\u201cMyomo\u201d or the \u201cCompany\u201d), a wearable medical robotics company that offers increased functionality for those suffering from neurological disorders and upper-limb paralysis, today announced that the Healthcare Quality Association on Accreditation (HQAA) has certified Myomo meets the accreditation requirements under the Social Security Act and federal regulations. Accreditation is a program in which trained external peer reviewers evaluate a healthcare organization’s compliance and compare it with pre-established performance standards.\n<\/p>\n

\nIn September 2020, the Company announced that the Centers for Medicare & Medicaid Services (CMS) under the U.S. Department of Health and Human Services had authorized the Company to be a Medicare Provider. This authorization required the Company to become accredited, and it has now met that requirement.\n<\/p>\n

\nPaul R. Gudonis, Myomo CEO, said, \u201cToday, reimbursement for the MyoPro orthosis is approved on a case-by-case basis by many Medicare Advantage plans, state Blue Cross \/ Blue Shield plans, certain Medicaid and commercial insurance plans, worker\u2019s compensation plans, and the Veterans Administration. Obtaining broader coverage would allow us to potentially better serve the qualifying beneficiaries of Medicare and other plans who suffer a paralyzed or weakened arm caused by stroke or nerve injury. I want to emphasize that we have not yet received coverage or reimbursement terms from CMS, and in fact there is no guarantee those terms will be forthcoming soon. Nonetheless, accredited provider status is an important step following on to our receiving Healthcare Common Procedure Coding System (HCPCS) codes from CMS and demonstrates we have the infrastructure in place to support Medicare patients when we have coverage from Medicare. We will continue to advocate for MyoPro coverage to help appropriate candidates obtain this useful technology for use at home, at work, and in school.\u201d\n<\/p>\n

About Myomo<\/b><\/p>\n

\nMyomo, Inc. is a wearable medical robotics company that offers improved arm and hand function for those suffering from neurological disorders and upper limb paralysis. Myomo develops and markets the MyoPro product line. MyoPro is a powered upper limb orthosis designed to support the arm and restore function to the weakened or paralyzed arms of patients suffering from CVA stroke, brachial plexus injury, traumatic brain or spinal cord injury, ALS or other neuromuscular disease or injury. It is currently the only marketed device that, sensing a patient\u2019s own EMG signals through non-invasive sensors on the arm, can restore an individual\u2019s ability to perform activities of daily living, including feeding themselves, carrying objects and doing household tasks. Many are able to return to work, live independently and reduce their cost of care. Myomo is headquartered in Cambridge, Massachusetts, with sales and clinical professionals across the U.S and representatives internationally. For more information, please visit www.myomo.com<\/a>.\n<\/p>\n

Forward Looking Statements<\/b><\/p>\n

\nThis press release contains forward-looking statements regarding the Company\u2019s future business expectations, including benefits expected from HQAA accreditation, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors.\n<\/p>\n

\nThese factors include, among other things:\n<\/p>\n