KeyBanc analyst sees CMS adding codes for Inspire V implant

Analyst commentary from KeyBanc Capital Markets suggests CMS is likely to add dedicated CPT codes for the Inspire V upper airway stimulation implant for sleep apnea in the upcoming 2027 Physician Fee Schedule. The firm's note, which moved the manufacturer's stock, indicates this would be a positive reimbursement update for otolaryngology and sleep medicine practices offering the therapy. Currently, the procedure may be billed with existing neuromodulation or implantation codes, but a specific code could lead to more consistent payment rates and reduced adjudication confusion. The 2027 PFS proposed rule, expected in July 2026, will be the first official source to confirm or deny this change. ENT and sleep practices should monitor the July 2026 CMS proposed rule for specific code proposals related to hypoglossal nerve stimulation.