CMS announced on December 10, 2025 that the Centers for Medicare and Medicaid Services will add InfuSystem’s CADD‑Solis® infusion pump from ICU Medical and the Sapphire™ pump from Eitan Medical to the list of devices eligible for separate Medicare payment under the NOPAIN Act, effective January 1, 2026. The new HCPCS codes—C9815 for the CADD‑Solis and C9811 for the Sapphire—enable InfuSystem to receive a separate payment of up to $1,997.16 per device, in addition to the standard Ambulatory Payment Class (APC) payment, for each qualifying use.
The NOPAIN Act, enacted as part of the Consolidated Appropriation Act of 2023, was designed to encourage non‑opioid pain‑management alternatives by providing separate Medicare reimbursement for qualifying treatments through December 31, 2027. By securing these codes, InfuSystem removes a key financial barrier that has historically limited provider adoption of electronic infusion pumps, positioning the company to capture increased volume in its Pain Management segment and to strengthen its margin profile in a market that is shifting toward safer, opioid‑free therapies.
Prior to this regulatory win, InfuSystem’s Pain Management segment had experienced a decline in revenue. In the third quarter of 2025, the segment’s revenue fell 4.1% year‑over‑year, and in the second quarter it dropped 15.4% due to shipment timing with a large customer. The segment is part of the broader Patient Services business, which generated $22.4 million in revenue in Q3 2025, up 7.6% YoY. Gross margin for the company rose to 57.1% in Q3 2025 from 53.9% in the prior year, while adjusted EBITDA margin improved to 22.8%. The new Medicare payment stream offers a potential upside that could reverse the recent revenue decline and support margin expansion.
CEO Carrie Lachance highlighted the significance of the CMS decision, noting that the separate payment “provides a financial incentive for providers to adopt non‑opioid infusion pumps and aligns with the broader opioid‑crisis response.” She also cautioned that the company’s outlook remains tempered until reimbursement requirements are fully understood and customer adoption materializes, underscoring the need for continued engagement with payers and clinicians.
Following the announcement, InfuSystem’s stock advanced 2% in after‑hours trading on December 10, reflecting investor enthusiasm for the new revenue opportunity. The market reaction was driven by the regulatory win’s potential to unlock a high‑margin product line, while the cautious tone from management about adoption and reimbursement nuances tempered expectations. The separate Medicare payment removes a key financial hurdle, potentially accelerating volume growth, improving the company’s competitive position against peers such as Avanos Medical, and reinforcing InfuSystem’s strategy to expand its Pain Management portfolio in a market increasingly focused on non‑opioid solutions.
The addition of these HCPCS codes is a strategic win that could materially alter InfuSystem’s revenue trajectory. By creating a dedicated payment stream, the company can better monetize its high‑margin infusion pumps, offsetting recent revenue declines and supporting its broader goal of profitable growth. The regulatory change also positions InfuSystem to capture a larger share of the growing non‑opioid pain‑management market, aligning with CMS’s policy objectives and strengthening the company’s competitive moat in a sector where reimbursement is a critical driver of adoption.
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