American Medical Association grants Verici Dx two CPT^® Codes

CPT Codes facilitate reimbursement and represent first milestone on pathway to commercialisation

Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for organ transplant, announces it has been granted CPT® Proprietary Laboratory Analyses (“PLA”) codes

1,2 for both its Clarava and Tuteva tests by the American Medical Association (“AMA”). The new codes have been approved and published by the AMA Editorial Panel and are scheduled to become effective on April 1, 2022.

Patti Connolly, Executive VP, Product Development of Verici Dx, said: “We were delighted with the AMA’s decision as CPT® codes are fundamental in the commercialisation of our lead products.”

Reimbursement in the US is comprised of three components: code, price and coverage. CPT^® codes offer health care professionals a uniform language for coding medical services and procedures, and the CPT^® PLA code allows clinical laboratories to more specifically identify their tests when billing Medicare and commercial insurers. The successful granting of a CPT® code marks the first step on the path for commercial reimbursement.

Notes:

1. Current Procedural Terminology (CPT) codes are medical codes that are used to report medical, surgical, and diagnostic procedures and services to entities such as physicians, health insurance companies and accreditation organizations. CPT codes are also used for administrative management purposes such as claims processing and developing guidelines for medical care review.
2. PLA codes are CPT codes including a corresponding descriptor for laboratories or manufacturers that want to identify their test more specifically.

Enquiries:

Sara Barrington, CEO
Julian Baines, Chairman

www.vericidx.com
Via Walbrook PR

N+1 Singer (Nominated Adviser & Broker)
Aubrey Powell / Kailey Aliyar / Tom Salvesen

Tel: 020 7496 3000

Walbrook PR Limited
Paul McManus / Sam Allen

Tel: 020 7933 8780 or vericidx@walbrookpr.com
Mob: 07980 541 893 / 07748 651 727

About The American Society of Nephrology

Since 1966, ASN has been creating a world without kidney diseases by educating and informing, driving breakthroughs and innovation, and advocating for policies that create transformative changes in kidney medicine throughout the world. ASN has more than 21,000 members representing 131 countries. For more information, visit www.asn-online.org.