Why this Newsletter
The Hospital New Technology Add-On Payment (NTAP) is important for companies developing new medical procedures and technologies. NTAP is a Medicare program which enables additional reimbursement to hospitals, above the Medicare MS-DRG payment amount, for those medical procedures and technologies purchased by the hospital that have qualified for NTAP designation. The additional reimbursement is for three consecutive years and is intended to assist with hospital adoption of the new procedure or technology.
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Currently NTAP applicants that are not already FDA market authorized when their NTAP application is submitted to Medicare, must have FDA market authorization before July 1 prior to the US Federal Fiscal Year for which the NTAP application is being considered.
Medicare is proposing to move the FDA approval deadline from July 1 to May 1, beginning with NTAP applications approved to take effect on October 1, 2024.
While moving the FDA approval deadline two months earlier may appear to be an insignificant change, for some companies it is not and here is why.
Those companies who could have meet the former July 1 deadline and are unable to meet the proposed May 1 deadline, there is a one-year reduction in an NTAP designation period from three to two years.
It is only during the designation period Medicare pays the hospital additional reimbursement for purchasing and using an NTAP designated technology and procedure.
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About Rowinski Group
Founded in 2004, Rowinski Group LLC is a reimbursement and healthcare payer data analytics consultancy for medical device, digital health, diagnostics companies. Rowinski Group has offices in Silicon Valley – San Francisco Bay area and Chicago, Minneapolis, and Raleigh.
Rowinski Group has two core service offerings; securing codes and reimbursement on behalf of companies and applying healthcare payer data analytics to help companies solve business issues such as responding to questions from the FDA and Medicare, sales forecasting etc.
Through these service offerings Rowinski Group helps U.S. and international companies build their U.S. market share for the medical technology or the procedure they are developing and selling. For more information visit https://reimbursement.consulting or contact Daniel Zimmerman d.zimmerman@reimbursement.consulting.
Rowinski Group LLC is a US based nationally certified as a Women’s Business Enterprise. The Women’s Business Enterprise certification is relevant for companies (publicly traded, privately held and not-for-profit) and universities who use supplier diversity programs to award contracted services.
About Women’s Business Enterprise National Council (WBENC)
Founded in 1997, WBENC is the nation’s leader in women’s business development and the leading third-party certifier of businesses owned and operated by women, with more than 13,000 certified Women’s Business Enterprises, 14 national Regional Partner Organizations, and over 300 Corporate Members. More than 1,000 corporations representing America’s most prestigious brands as well as many states, cities, and other entities accept WBENC Certification. For more information, visit www.wbenc.org.
