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Ernest A. Bates, M.D., Chairman and CEO
San Francisco, CA, December 3, 2013-- AMERICAN SHARED HOSPITAL SERVICES (MKT:AMS), a leading provider of turnkey technology solutions for advanced radiosurgical and radiation therapy services, announced today that the Centers for Medicare and Medicaid Services (CMS) has posted its final Medicare hospital outpatient prospective payment rates for calendar year 2014.
Effective January 1, 2014, CMS Gamma Knife delivery code reimbursement will be increased to $3,592 from the previous rate of $3,301, a 9% increase. It is estimated that including ancillary services and outlier adjustments, if applicable, Gamma Knife centers can receive Medicare reimbursement of up to around $9,000 per treatment under the recently announced CMS rates.
CMS’s 2014 proton therapy delivery code rates per daily session are $872 ($1,137 in 2013) for a simple treatment and $1,205 ($682 in 2013) for an intermediate or complex treatment.About AMS
American Shared Hospital Services provides turnkey technology solutions for advanced radiosurgical and radiation therapy services. AMS is the world leader in providing Gamma Knife radiosurgery equipment, a non-invasive treatment for malignant and benign brain tumors, vascular malformations and trigeminal neuralgia (facial pain). The Company also offers the latest IGRT and IMRT systems, as well as its proprietary Operating Room for the 21st CenturySM concept. AMS owns common stock in Mevion Medical Systems, Inc., developer of the compact MEVION S250 Proton Therapy System.Safe Harbor Statement
This press release may be deemed to contain certain forward-looking statements with respect to the financial condition, results of operations and future plans of American Shared Hospital Services, which involve risks and uncertainties including, but not limited to, the risks of the Gamma Knife and radiation therapy businesses. Further information on potential factors that could affect the financial condition, results of operations and future plans of American Shared Hospital Services is included in the filings of the Company with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2012, the Quarterly Report on Form 10-Q for the quarters ended on March 31, 2013,June 30, 2013, and September 30, 2013, and the definitive Proxy Statement for the Annual Meeting of Shareholders held on June 11, 2013.Back to Top