The Conversation (0)
MiMedx Group, Inc. (Nasdaq: MDXG) ("MIMEDX" or the "Company") today commented on the Centers for Medicare and Medicaid Services ("CMS") release of the CY 2026 Physician Fee Schedule ("PFS") final rule, which was published on Friday.
"Over the last several years, we have actively engaged with numerous stakeholders to advocate for much-needed reform of the Medicare reimbursement system for skin substitutes. CMS is now acting, in the form of the new PFS, as well as other initiatives, to reduce the rampant fraud, waste and abuse that has plagued this industry. We believe these steps will help restore far more rational behavior, bringing stability and predictability to the market," stated Joseph H. Capper, MIMEDX Chief Executive Officer.
"As we mentioned on last week's earnings call, we have been thoughtfully preparing for a range of potential outcomes regarding reimbursement reform. As we now know, this final rule is essentially what was proposed in July, and we believe it provides a large opportunity for MIMEDX given our many competitive advantages. We have fully integrated, highly efficient, scalable operations; a large and proprietary commercial organization; best-in-class technology; a robust and defensible I.P. portfolio; and an excellent balance sheet. We will certainly leverage these strengths to gain share as the market adjusts to the new reimbursement environment. There are details and mechanics we need to sort through, and we would have preferred to see our recommendations included in the final rule. However, this reform represents a major step in the right direction, and we will continue to advocate for further improvements over time. Our highest priority as we work through the transition is to ensure patients have continued access to our proven technology," concluded Mr. Capper.
Forward Looking Statements
This press release includes forward-looking statements, including statements regarding our expectations regarding the impact of reimbursement changes. Additional forward-looking statements may be identified by words such as "believe," "expect," "may," "plan," "goal," "outlook," "potential," "will," "preliminary," and similar expressions, and are based on management's current beliefs and expectations.
Forward-looking statements are subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Any forward-looking statements speak only as of the date of this press release and the Company assumes no obligation to update any forward-looking statement.
About MIMEDX
MIMEDX is a pioneer and leader focused on helping humans heal. With more than a decade of helping clinicians manage chronic and other hard-to-heal wounds, MIMEDX provides a leading portfolio of products for applications in the wound care, burn, and surgical sectors of healthcare. The Company's vision is to be the leading global provider of healing solutions through relentless innovation to restore quality of life. For additional information, please visit www.mimedx.com .
Contact:
Matt Notarianni
Investor Relations
470-304-7291
mnotarianni@mimedx.com
