NYXH (US)

We see little practical reimbursement impact for INSP from CMS’s announcement this morning that it will be creating a set of new facility level C-codes for newer generation hypoglossal nerve stimulation (HGNS) device services (e.g.,…

With INSP confirming our suspicion last night that MACs will ultimately require Inspire V procedures to be billed under CPT 64582 with a -52 (reduced work) modifier, we would expect this to translate into a…

CMS’s update this morning – indicating that CPT 64568 is not covered for obstructive sleep apnea under any national coverage determination (NCD) – is in keeping with the view we articulated just two weeks ago,…

Following repeated outreach to Medicare Administrative Contractor (MAC) public inquiry mailboxes, feedback from WPS – responsible for ~13% of INSP services – bolsters our view that the company is unlikely to be able to take…

With Medicare Administrative Contractor (MAC) WPS – responsible for ~13% of INSP claims – now joining Noridian (17%), NGS (9%), and CGS (6%) in removing cranial nerve code 64568 from its hypoglossal obstructive sleep apnea…

Having received a large number of questions on whether Medicare Administrative Contractors (MAC) might refuse to cover INSP’s Inspire V device under CPT 64568 following CMS’s recent facility rate increase via assignment to a New…

With shares of INSP up ~60% since CMS announced a 48% hospital rate increase for Inspire V procedures billed under CPT 64568 in CY26 (+58% for ASCs), we continue to believe that this will be…

CMS’s surprise decision to reassign cranial nerve neurostimulator code CPT 64568 to a $45K New Tech APC (+48% YoY) represents a significant 2026 tailwind for both vagus (VNS) [LIVN’s Sentiva] and hypoglossal nerve stimulation (HNS)…

We view CMS’s new Medicare prior authorization model – announced late Friday and scheduled for implementation Jan. 1, 2026 – as an incremental headwind for device manufacturers within the selected therapeutic and geographic areas, which…

We view the delayed approval of Nyxoah’s (NYXH) Genio announced this week as positive for Inspire Medical (INSP) insofar as it not only pushes out competition – albeit to an uncertain extent – but may…