Medicare proposed gapfill median rate of $2,650 per test
Verici Dx plc (AIM: VRCI), a developer of advanced clinical diagnostics for organ transplant, announces that a gapfill median rate of $2,650 has been proposed for Tutivia™ for kidney transplant rejection by the Centers for Medicare & Medicaid Services (“CMS”).
Medicare is a national health insurance program in the US that covers 63.9 million patients. Gapfill pricing is a method used by CMS to establish payment rates for clinical laboratory tests under the Clinical Laboratory Fee Schedule (“CLFS”) when no comparable test already exists on the CLFS. The proposed rate was supported by the majority of Medicare Administrative Contractor (“MAC”) localities, including Palmetto GBA, the MAC that will process future Medicare claims submitted for tests performed in Verici’s Tennessee laboratory. This proposed rate is currently open for public comment before it is finalised later this year. Following finalisation, the price in the CLFS is valid for a period of three years from 1 January 2024, after which it is subject to further review.
Sara Barrington, Chief Executive Officer of Verici Dx, commented: “This is another important milestone in our commercial strategy, and we are pleased the majority of MAC localities have proposed pricing for our Tutivia™ tests consistent with the resources required to develop and perform these tests. I look forward to the pricing being finalised later this year and securing reimbursement coverage in due course.”
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
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
Verici Dx is a developer of a complementary suite of leading-edge tests forming a kidney transplant platform for personalised patient and organ response risk to assist clinicians in medical management for improved patient outcomes. The underlying technology is based upon artificial intelligence assisted transcriptomic analysis to provide RNA signatures focused upon the immune response and other biological pathway signals critical for transplant prognosis of risk of injury, rejection and graft failure from pre-transplant to late stage. The Company also has a mission to accelerate the pace of innovation by research using the fully characterised data from the underlying technology and collaboration with medical device, biopharmaceutical and data science partners.
The foundational research was driven by a deep understanding of cell-mediated immunity and is enabled by access to expertly curated collaborative studies in highly informative cohorts in kidney transplant.
Verici Dx's two lead products are Tutivia™, a post-transplant test focused upon acute cellular rejection, including sub-clinical rejection and Clarava™, a pre-transplant prognosis test for the risk of early acute rejection. These products seek to measure how a patient is likely to respond, and is responding, to a kidney transplant. These products are underpinned by extensive patented and published scientific research from the leading Mount Sinai Medical Center, for which the Company holds an exclusive worldwide licence.
