regulatory
confidence high
sentiment positive
materiality 0.65
Envoy Medical backs bipartisan Senate bill to classify implanted middle ear devices as prosthetics for Medicare coverage
Envoy Medical, Inc.
- Senate bill S.4829 (Hearing Device Coverage Clarification Act) introduced July 29 by Klobuchar (D-MN) and Lankford (R-OK).
- Bill seeks to clarify that implanted active middle ear hearing devices are prosthetics, not hearing aids, removing Medicare hearing aid exclusion.
- Envoy's Esteem FI-AMEI is the only FDA-approved fully implanted active middle ear device; company expects increased competition if bill passes.
- House companion legislation already introduced; Envoy believes combined efforts raise chances of enactment.
- CEO Brent Lucas says bill would expand patient access and spur innovation in the segment.