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.
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