The US spent approx $4.1 trillion on healthcare in 2020 - representing 19.7% of GDP vs 12.8% in the UK.
Hence strategically obtaining access to this enormous market is vital for groundbreaking diagnostics innovators like Verici Dx and LungLife AI.
Today, came more encouraging news that both firms had been granted CPT Proprietary Laboratory Analyses codes by the American Medical Association (AMA) for their proprietary kidney transplant (re #VRCI) and AI enabled lung cancer (#LLAI) tests - effective 1 April 2022.
The codes are critical building blocks for commercialising the products. Since they are used not only to report medical, surgical & diagnostic procedures to doctors, health insurers and other organizations. But also for administrative purposes such as claims processing and developing industry guidelines.
LungLife AI CEO Paul Pagano adding: "A CPT code is fundamental in the commercialisation of [our] LungLB test. We were delighted with the AMA's decision as this will facilitate access for patients with indeterminate pulmonary nodules who are at-risk of lung cancer."
Equally Patti Connolly, Executive VP, Product Development of Verici Dx, commented: "We were delighted with the AMA's decision as CPT codes are fundamental in the commercialisation of our lead products." The US spent approx $4.1 trillion on healthcare in 2020 - representing 19.7% of GDP vs 12.8% in the UK.
Hence strategically obtaining access to this enormous market is vital for groundbreaking diagnostics innovators like Verici Dx and LungLife AI.
Today, came more encouraging news that both firms had been granted CPT Proprietary Laboratory Analyses codes by the American Medical Association (AMA) for their proprietary kidney transplant (re #VRCI) and AI enabled lung cancer (#LLAI) tests - effective 1 April 2022.
The codes are critical building blocks for commercialising the products. Since they are used not only to report medical, surgical & diagnostic procedures to doctors, health insurers and other organizations. But also for administrative purposes such as claims processing and developing industry guidelines.
LungLife AI CEO Paul Pagano adding: "A CPT code is fundamental in the commercialisation of [our] LungLB test. We were delighted with the AMA's decision as this will facilitate access for patients with indeterminate pulmonary nodules who are at-risk of lung cancer."
Equally Patti Connolly, Executive VP, Product Development of Verici Dx, commented: "We were delighted with the AMA's decision as CPT codes are fundamental in the commercialisation of our lead products."