4D Medical up over 50pc Medtech company, 4DMedical (ASX:4DX),...

4D Medical up over 50pc

Medtech company, 4DMedical (ASX:4DX), surged 54% this morning after announcing that its XV LVAS scanning device has been included into the U.S. Centers for Medicare & Medicaid Services (CMS).
The CMS is the US federal agency providing health coverage through Medicare, Medicaid, the Children’s Health Insurance Program, and the Health Insurance Marketplace.
Medicare is an important public health insurance scheme for US adults aged 65 years and over; and as of 1 March, there were 65.7 million people enrolled in the program.
The inclusion today means that from 1 January 2024, XV LVAS scans conducted in a US hospital outpatient facility for Medicare patients can be billed to CMS.
CMS has accepted the reimbursement request and finalised assignment of the Category III CPT code for XV LVAS to the rate of US$299 per scan.
4DX’s XV LVAS uses X-rays to create detailed images of lung movement and function during breathing. It gives clinicians a clearer picture of lung health for pulmonary disorders including asthma, COPD, cystic fibrosis, and even cancer.
Also read: 4D Medical’s technology disrupts century-old procedures AND makes over 90pc profit margin
4DMedical CEO and founder, Andreas Fouras, said achieving Medicare reimbursement of US$299 per scan is a major milestone in the company’s progress to secure reimbursement across the entire US healthcare system.
“This ruling will lead to accelerated uptake of XV LVAS, which in turn will support our pursuit of a Category I CPT code,” said Fouras, referring to US coding for different procedures performed in inpatient and outpatient offices and hospitals.