Nexalin Technology (NXL, Financial) has announced its endorsement of the Health Tech Investment Act, a new bipartisan bill introduced in the U.S. Senate. This legislation seeks to broaden Medicare reimbursement for medical devices with FDA clearance or approval that utilize artificial intelligence or machine learning.
The bill, spearheaded by Senators Mike Rounds and Martin Heinrich, aims to bridge the current gap between device approval and Medicare coverage. It proposes a temporary reimbursement framework using New Technology Ambulatory Payment Classification codes for a period of up to five years. This interim period would provide time for the Centers for Medicare & Medicaid Services to collect essential clinical data and evaluate long-term reimbursement strategies.
Nexalin regards this legislative proposal as a significant advancement that aligns well with their Gen-3 HALO Clarity device. The company emphasizes that this act represents a federal commitment to enhancing both innovation and accessibility in healthcare, particularly in sectors such as mental health, where traditional treatments may not be sufficient for numerous patients.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Nexalin Technology Inc (NXL, Financial) is $5.00 with a high estimate of $5.00 and a low estimate of $5.00. The average target implies an upside of 196.12% from the current price of $1.69. More detailed estimate data can be found on the Nexalin Technology Inc (NXL) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Nexalin Technology Inc's (NXL, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
