Envoy Medical Inc., a pioneering company in the hearing health sector, has announced that five new Category III CPT codes for their totally implantable active middle ear implants will become effective on July 1, 2025. These codes, approved by the American Medical Association's CPT Editorial Panel, mark a significant advancement for the Esteem® device, the only FDA-approved fully implanted active middle ear implant currently available. This development is expected to open new opportunities for Envoy Medical by potentially enhancing insurance coverage and reimbursement options for procedures related to the device. Additionally, the introduction of these codes is anticipated to foster increased competition and innovation within the hearing loss industry, which has traditionally been dominated by a few major players.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.