abmd-8k_20190802.htm

ABIOMED, Inc.

/s/ Marc A. Began

Marc A. Began

Vice President, General Counsel and Secretary

(Authorized Signatory)

Date: August 5, 2019

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 2, 2019

ABIOMED, Inc.

(Exact name of Registrant as Specified in Its Charter)

Delaware	001-09585	04-2743260
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

22 Cherry Hill Drive
Danvers, Massachusetts 01923

(Address of Principal Executive Offices, including Zip Code)

(978) 646-1400

(Registrant’s Telephone Number, including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock, $0.01 par value	ABMD	The NASDAQ Stock Market LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 8.01	Other Events.

Centers for Medicare & Medicaid Services (CMS) Final Rule for the Inpatient Prospective Payment System (IPPS)

On August 2, 2019, the Centers for Medicare & Medicaid Services (CMS) released final Medicare payment levels for inpatient hospital discharges for fiscal year 2020 (October 1, 2019 through September 30, 2020). The Final Rule for the Inpatient Prospective Payment System (IPPS) is available on the CMS website at cms.gov. The Proposed Rule published in April 2019, was described by the Company in a Form 8-K filed on April 24, 2019. The Final Rule for the IPPS update includes ICD-10 coding and maintained assignment of percutaneous Impella implantation to MS-DRG 215 for Other Heart Assist System Implant, bi-ventricular Impella support in MS-DRG 1-2 assignments, and Impella hospital transfer and support in MS-DRG 268-269 for the receiving hospital.

Final Rule for FY 2020 Impella Heart Pump Reimbursement

After further analysis, CMS eliminated the proposed reduction of 27% and concluded there will be no reduction versus the prior year for MS-DRG 215. The Final Rule will be effective for the 12 months from and after October 1, 2019 for all Medicare hospital inpatient discharges.

CMS payment levels for common Impella heart pump procedures are described in Table A.

Table A. Summary of common MS-DRGs from the Final Rule for illustration only.

Common Impella Heart Pump Procedures *	MS-DRG		FY2020 Rate (All Hospitals)		FY2020 Rate (Sample 100 Impella Sites)		Change from FY 2019 Rate (All Hospitals; Oct 1, 2019 vs Oct 1, 2018)
Uni-Ventricular Impella heart pump percutaneous insertion		215	$	80,715	$	96,749	+3%
Biventricular Impella or open insertion with removal		1	$	173,092	$	198,297	+7%
ICU care and removal of Impella heart pump, after transfer from outlying hospital		268	$	42,484	$	49,457	+4%


*	Actual MS-DRGs may vary based on procedure.

All Hospitals’ include 3,313 Medicare hospitals, and only approximately 1,400 have cath labs or operating rooms.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.