LungLife AI, Inc.
(the “Company” or “LungLife”)
Final Pricing Determination
Medicare Grants Pricing for LungLife’s LungLB® Early Lung Cancer Diagnostic
LungLife AI (AIM: LLAI), a developer of clinical diagnostic solutions for lung cancer, announces that the Centers for Medicare & Medicaid Services (“CMS”) has granted a price at $2,030 per test for the LungLB® early lung cancer detection diagnostic. This final CMS payment determination will be listed in the Calendar Year 2023 Clinical Laboratory Fee Schedule (CLFS) and will apply to all eligible Medicare patients tested by LungLB®.
Medicare, a national health insurance program in the US, covers 63.9 million lives and indeterminate lung nodules are often found in patients of an age typically covered by Medicare. The determination to crosswalk means Medicare beneficiaries will now have a national price for the LungLB® test effective as of January 1, 2023. This represents completion of a key Company milestone as it supports the plan to seek comprehensive reimbursement for the test.
Paul Pagano, CEO for LungLife said:
“This is a major commercial milestone for LungLB® and brings us closer to delivering the test to the people who need it most. We are very pleased to have secured a favourable crosswalk decision which creates added certainty and avoids a year long process of determining price as would be the case under gapfill.”
For the full announcement, click HERE.
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