4 January 2022
LungLife AI, Inc.
(the “Company” or “LungLife”)
CPT® Code granted by American Medical Association
Successful grant marks first step facilitating commercial reimbursement
LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung cancer announces it has been granted a CPT® Proprietary Laboratory Analyses (PLA) code for its LungLB® test by the American Medical Association (AMA). The new code has been approved and published by the AMA Editorial Panel and is scheduled to become effective on 1 April 2022.
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® 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.
Paul Pagano, Chief Executive Officer, LungLife AI said: “A CPT® code is fundamental in the commercialisation of the LungLB® test. We were delighted with the AMA’s decision as this will facilitate access to LungLB® for patients with indeterminate pulmonary nodules who are at-risk for lung cancer.”
For the full announcement please click HERE.