Teleflex (TFX) Issues Comments on 2022 Medicare Physician Fee Schedule Final Rule

Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technologies today commented on the recently released Centers for Medicare & Medicaid Services (CMS) Calendar Year 2022 Medicare Physician Fee Schedule (MPFS) Final Rule. The Final Rule was released on November 3, 2021 and updates to payment policies, payment rates and other provisions for services furnished under the MPFS are effective January 1, 2022.

Liam Kelly, Chairman, President and Chief Executive Officer, said, “Although the phase-in of the Proposed Rule is better than immediate implementation, we are disappointed in CMS’ decision to reduce the Non-Facility Practice Expense (PE) Relative Value Units (RVUs), which will negatively impact reimbursement for more than 600 office-based procedures, including the UroLift System, across a broad range of surgical specialties. We anticipate that this decision may cause our provider community to migrate patients to the ASC or hospital outpatient setting. We will continue to partner with urologists and societies while engaging with CMS, as appropriate, over the subsequent months or years to limit any negative impacts on Medicare patient access to safe and effective clinical care in the office setting. We will also continue to support our provider community as appropriate to migrate patients to the ASC or hospital outpatient setting as needed.”

After applying the CMS 2022 Final Rule RVUs and Conversion Factor (CF) of 33.59, the 2022 national unadjusted physician fee for UroLift CPT Codes 52441 and 52442 will be reduced by 8% and 11% respectively. The MPFS Final Rule will be phased in over four years. The national unadjusted payment rate varies geographically.

Teleflex will discuss the expected financial impact of the MPFS Final Rule when the company releases its fourth quarter 2021 results and 2022 operational outlook.

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