RE: Oxford BioDynamics Receives Reimbursement Code7 Oct 2023 15:17
Reimbursement code -
“A unique code is critical to the reimbursement process,” said Thomas Guiel, OBD’s Chief Operating Officer. “With the code issued at this early stage of the test introduction, we are in a good place to drive adoption of this highly accurate test. Effective on 1 January for all requests for insurance reimbursement, whether from Medicare, Medicaid or private payors, this unique code will enable discussions regarding coverage decisions as well as negotiating the reimbursement rate.”
As with the Company’s previous test, the checkpoint inhibitor response test (CiRT), launched in early 2022 for prediction of response to checkpoint inhibitor therapy in cancer, a miscellaneous code for high complexity molecular testing will be used for reimbursement in the fourth quarter of 2023. A CPT PLA code is unique to the test, the lab and the manufacturer. The full (long) description for PSE is “Oncology (prostate), five DNA regulatory markers by quantitative PCR, whole blood, algorithm, including Prostate-Specific Antigen, reported as likelihood of cancer”.
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