American Medical Association (AMA) Grants Exosome Diagnostics a CPT PLA Specific to Its ExoDx® Prostate(IntelliScore) Test
The issuance of this CPT® Proprietary Laboratory Analyses (PLA) code for the ExoDx® Prostate(IntelliScore) will set the stage for obtaining coverage from private payors and obtaining Medicare reimbursement
CAMBRIDGE, MA, Apr. 26, 2017 - Exosome Diagnostics, Inc. announced today that the American Medical Association (AMA) has issued a new CPT® Proprietary Laboratory Analyses (PLA) code for its ExoDx® Prostate(IntelliScore) test. The new Code 0005U, will become effective May 1, 2017 and is specific to ExoDx Prostate(IntelliScore), abbreviated EPI.
Proprietary Laboratory Analyses (PLA) codes are a new addition to the CPT® code set approved by the AMA CPT® Editorial Panel. PLA codes are alpha-numeric CPT codes with a corresponding descriptor, for labs or manufacturers to more specifically identify their test.
This is an important step in expanding the commercialization of the EPI testing the United States. CPT codes are the most widely accepted form of medical nomenclature used to report medical procedures and services under public and private health insurance programs in the U.S.
"We are extremely pleased that the AMA has approved a unique CPT PLA code to validate the value of our EPI test. Typically it has taken 2 to 3 years to be issued a CPT code. Getting this new code within six months of the launch of our innovative test is going to benefit doctors and their patients by easing the claims processing burden on busy office staff, speeding up the time to payment and increasing the predictability of payment," said Thomas McLain, Chief Operating Officer. "The issuance of a unique CPT PLA code is also accelerating our efforts to secure private payor and Medicare reimbursement for our EPI test."
“Implementing the diagnostic division for Exosome Diagnostics and bringing EPI to market has been vital for the commercial health of the company and patients alike,” stated Elizabeth Cormier, Head of Diagnostic Business Development. “Receiving a unique CPT-PLA code is an important piece of the diagnostic commercialization strategy, offering EPI an accelerated path to payment. We are thrilled to be the first company in this space to receive our code and look forward to leveraging this success across the rest of our diagnostic portfolio,” Cormier continued.
“The EPI test will significantly reduce the number of unnecessary prostate biopsies for patients who have PSA scores in the gray zone and would have otherwise undergone prostate biopsies. We are extremely pleased the American Medical Association (AMA) has granted the CPT PLA in such an expedited fashion, to help usher the EPI test into clinical practice and reduce the number of unneeded complex procedures for patients,” stated John Boyce, President and Chief Executive Officer of Exosome Diagnostics. The issuance of this CPT® Proprietary Laboratory Analyses (PLA) code for the ExoDx® Prostate(IntelliScore) will set the stage for obtaining coverage from private payors and obtaining Medicare reimbursement,” Boyce continued.
About Exosome Diagnostics
Exosome Diagnostics is a privately held company focused on developing and commercializing revolutionary biofluid-based diagnostics to deliver personalized precision healthcare that improves lives. The company’s novel exosome-based technology platform, ExoLution™, can yield comprehensive and dynamic molecular insights to transform how cancer and other serious diseases are diagnosed, treated and monitored. Visit www.exosomedx.com to learn more.
ExoDx is a registered trademark of Exosome Diagnostics, Inc. Exosome Diagnostics and ExoLution are unregistered trademarks of Exosome Diagnostics, Inc.
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