Nexalin Technology expresses ‘strong support’ for Health Tech Investment Act

Nexalin Technology (NXL) announced its support for the Health Tech Investment Act – bipartisan legislation introduced in the United States Senate that would expand Medicare reimbursement opportunities for FDA-cleared or approved medical devices that incorporate artificial intelligence or machine learning. The legislation, sponsored by Senators Mike Rounds and Martin Heinrich proposes a transitional reimbursement mechanism under Medicare to close the current gap between device approval and coverage. Under the proposal, AI-enabled technologies that receive FDA clearance or approval would be assigned New Technology Ambulatory Payment Classification codes for up to five years, allowing time for the Centers for Medicare & Medicaid Services to collect clinical data and assess long-term reimbursement decisions. Nexalin views the Health Tech Investment Act as a legislative milestone that could provide a reimbursement framework ideally suited to the Gen-3 HALO Clarity device. The bill offers a clear signal that federal policymakers are prioritizing the intersection of innovation and accessibility, especially in areas like mental health, where traditional care options remain limited or ineffective for many patients.