CardioNet, Inc., a wireless medical technology company, has announced a proposal by Centers for Medicare and Medicaid Services (CMS) stating that the technical component of mobile cardiovascular telemetry (CPT Code 93229) remains carrier-priced for calendar year 2011.

The proposal which states that the technical component of mobile cardiovascular telemetry (CPT Code 93229) remains carrier-priced for calendar year 2011 was included in The Medicare Physician Fee Schedule Proposed Rule released on Friday, June 25, 2010.

The implementation date is slated for Jan. 1, 2010, with a final ruling from CMS by November 1, 2010 which is preceded by a public comments period.

Joe Capper, Cardio Net's president and chief executive officer, said that in light of their efforts to obtain a national reimbursement rate for CardioNet's MCOT(TM) technology, they were unhappy and disappointed by the Proposed Rule. Capper added that CardioNet will focus its efforts during the public comments period to request that CMS change its recommendation. He explained that they were looking for a ruling that is more beneficial to Medicare recipients who depend on MCOT(TM).

Pending its second quarter 2010 financial results communications, CardioNet is looking to further address CMS' proposal in order to influence a more favorable proposed ruling.

CardioNet is a provider of ambulatory, continuous, real-time outpatient management solutions for monitoring relevant and timely clinical information regarding an individual's health.

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