ImpediMed (ASX:IPD) is expected to trade substantially higher today after revealing that the Centers for Medicare and Medicaid Services (CMS) has published a valuation for the Category I code relating to the company's L-Dex procedure for the assessment of lymphoedema.
This means that, beginning 1st January 2015, physicians and hospitals will be able to seek reimbursement for the L-Dex procedure.
Under the US reimbursement regime, CMS has assigned a payment rate when billed by a hospital outpatient facility of $112.67.
Release of the valuation for the Category I code for L-Dex is another major reimbursement milestone, and should provide greater access for patients, facilitate claims processing and accelerate coverage from payers.
The publication of this CPT Category I code valuation will be central to driving market adoption of L-Dex.
Many US cancer patients will now have access to this test and ImpediMed is now armed with both clinical evidence and a simplified, standardised reimbursement environment for physicians.
ImpediMed is a leader in the development and distribution of medical devices employing Bioimpedance Spectroscopy technologies for use in the non-invasive clinical assessment and monitoring of fluid status.
ImpediMed’s primary product range consists of a number of medical devices that aid surgeons, oncologists, therapists and radiation oncologists in the clinical assessment of patients for the potential onset of secondary lymphoedema.
Pre-operative clinical assessment in cancer survivors, before the onset of symptoms, may prevent the condition from becoming a lifelong management issue and thus improve the quality of life of the cancer survivor.
Earlier this year, the company completed an oversubscribed placement to institutional and sophisticated investors for 45.3 million shares at $0.195 per share, raising $8.8 million.
These investors have done well, with shares hitting $0.89 today.
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