NeuroPace Boosts Medicare RNS Reimbursement 44%, Forecasts $98M–$100M 2026 Revenue
NeuroPace closed 2025 with $100M revenue (+25% YoY) and Medicare reimbursement jumps to $31,526 per replacement (from $21,444) while physician fees rise ~44% in 2026. Management forecasts $98M–$100M revenue with 20%–22% RNS growth, Q1 at $21M–$22M, targets 82% gross margin and seeks FDA clearance for Seizure ID software.
1. 2025 Performance Highlights
NeuroPace generated $100M in 2025 revenue, up 25% year over year, driven by RNS System sales. Gross margin expanded to 77.4% and the installed base surpassed 8,000 patients, reflecting disciplined pricing and manufacturing efficiencies.
2. Medicare Reimbursement Changes for 2026
Starting January 1, 2026, CMS increased RNS implantation and replacement payments by approximately 43%–45%, raising hospital reimbursement for replacement procedures to $31,526 from $21,444 and boosting physician fees by roughly 44%. These adjustments improve unit economics and incentivize broader adoption in outpatient settings.
3. 2026 Outlook and Growth Drivers
Management forecasts $98M–$100M in 2026 revenue with 20%–22% RNS growth and Q1 at $21M–$22M, targeting 81.5%–82.5% gross margin. The company plans front-loaded spending that offsets early profitability and is pursuing FDA clearance for its Seizure ID software to drive clinician efficiency and platform stickiness.