CMS Proposes National Rates for Cardiac Monitoring; iRhythm’s Stock Jumps

The Centers for Medicare and Medicaid Services has proposed national Medicare rates for extended Holter heart monitoring, potentially ending a years-long saga for iRhythm Technologies and the cardiac monitoring market.

The agency released its proposed 2023 Physician Fee Schedule after the market closed Thursday. In the rule, the CMS set national rates for a list of cardiac monitoring codes.

The national rate for iRhythm’s most commonly used code, applied to the company’s Zio Xt long-term monitor, was proposed at $229, according to multiple analyst reports. The rate is just below the roughly $233 price currently offered by Novitas Solutions, the regional Medicare rate setter that processes the majority of iRhythm’s claims.