Glaukos Takes Another Hit From CMS; Investors Respond Negatively As Stock Falls
The US Medicare agency's new rule for facility fees brings more bad news for Glaukos; Wells Fargo downgrades company’s stock in response.
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The US Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that includes new reimbursement levels for multiple medical devices, including the Glaukos iStent.
Fees for filing a premarket application with the US FDA increased 2.5% for fiscal year 2022, which is significantly less than the 7% they went up last year.
Research from the University of California, San Francisco claims that many deaths involving medical devices are incorrectly reported to the US agency, and says improving the accuracy of how these deaths are classified could improve patient safety.