Inspire Medical's Stock Plummets After Medicare Coverage Loss

Inspire Medical Systems shares plummeted by seventeen and a half percent following a sudden decision by Medicare administrators to remove coverage for their new device, the Gen Five system. This move, which eliminated a crucial billing code, prevents hospitals from receiving reimbursement for procedures using the device, hindering its adoption and causing a significant sell-off in the stock market. The companys shares are now down almost fifty percent since the beginning of the year, as investors await updates on the reinstatement of the billing code.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.