NEWTOWN, PA — Helius Medical Technologies, Inc. (Nasdaq: HSDT) has announced that CignaHealth has authorized claims for payment of the company’s Portable Neuromodulation Stimulator (PoNS) Device. The authorization marks a significant milestone, making CignaHealth the fifth major payer to approve reimbursement for the device, following a similar authorization from Anthem MultiPlan.
The PoNS Device, priced at an out-of-network negotiated rate of $19,161, is a non-invasive treatment used to aid patients with multiple sclerosis (MS) in improving walking ability. This latest development advances efforts to expand patient access to innovative therapies that can address unmet needs in managing MS.
“With approvals now secured from five major commercial healthcare payers, we are making significant progress increasing MS patient access to the PoNS device,” said Dane Andreeff, Helius President and Chief Executive Officer. “Importantly, these out-of-network total lump sum reimbursement payments at over $19,000 reinforce the value of PoNS while strengthening and supporting our ongoing efforts to achieve broader reimbursement from CMS and coverage across the healthcare landscape.”
This announcement highlights Helius’ strides in gaining insurance reimbursement for the PoNS Device, a critical step towards wider adoption of the technology. The progress is expected to encourage broader acceptance across the healthcare system and align with the company’s vision for improving patient outcomes.
However, it is worth noting that individual deductibles and out-of-pocket costs could influence whether these claims result in immediate device sales. As Helius continues to secure payer support, the company is working toward creating a more accessible and equitable pathway for patients to benefit from its innovative treatment.
The addition of CignaHealth’s authorization highlights the growing recognition of the PoNS Device’s potential to improve quality of life for MS patients. It also fortifies Helius’ position in advocating for expanded reimbursement opportunities within both commercial and government-based healthcare channels.
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