Grant of two CPT Codes by AMA

RNS Number : 2489X

Verici Dx PLC

04 January 2022

 

Verici Dx plc

("Verici Dx" or the "Company") 

American Medical Association grants Verici Dx two CPT® Codes

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.

Notes:

1  Current Procedural Terminology (CPT) codes are medical codes that are used to report medical, surgical, and diagnostic procedures and services to entities such as physicians, health insurance companies and accreditation organizations.  CPT codes are also used for administrative management purposes such as claims processing and developing guidelines for medical care review.

2  PLA codes are CPT codes including a corresponding descriptor for laboratories or manufacturers that want to identify their test more specifically.

Enquiries:

Verici Dx	www.v ericidx .com
Sara Barrington, CEO	Via Walbrook PR
Julian Baines, Chairman
Singer Capital Markets (Nominated Adviser & Broker)	Tel: [phone]
Aubrey Powell / Kailey Aliyar / Tom Salvesen
Walbrook PR Limited	Tel: [phone] or  [e-mail]
Paul McManus / Sam Allen	Mob: [phone]

About Verici Dx plc www.vericidx.com

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.

 

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