BRISBANE, Calif., Sept. 22, 2017 (GLOBE NEWSWIRE) -- CareDx, Inc. (NASDAQ:CDNA), a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic solutions for transplant patients, today announced that Medicare reimbursement for AlloMap will increase from its current level of $2,840.75 to $3,240.
Medicare released the preliminary 2018 Clinical Laboratory Fee Schedule (CLFS) reflecting a 14% increase to CPT 81595, the code that represents AlloMap. The increase is the result of the Protecting Access to Medicare Act (PAMA) of 2014. PAMA revises the Medicare payment system for clinical laboratory tests by setting Medicare payments based on the weighted median of rates paid by private payers. Effective January 1, 2018, Medicare plans to reimburse CareDx $3,240 for AlloMap testing of Medicare beneficiaries.
"The updated clinical laboratory test rate reflects the value that AlloMap brings to transplant patients," said Peter Maag, CEO of CareDx. "I am glad to see this value recognized by Medicare
and private payers. We also appreciate the certainty that the PAMA implementation brings to the field of high value diagnostics like AlloMap."
CareDx, Inc., headquartered in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value solutions for transplant recipients. CareDx offers products across the transplant testing continuum, including AlloMap® and AlloSure™ for post-transplant surveillance and Olerup SSP®, Olerup QTYPE®, and Olerup SBT™ for pre-transplant HLA testing.
For more information, please visit: www.CareDx.com.
Forward Looking Statements
This press release contains forward-looking statements about our business, research, development and commercialization efforts. These forward-looking statements are based upon information that is currently available to us and our current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including risks associated with successful research, development and planned commercialization of our technologies, that are described in our filings
with the SEC, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed by us with the SEC on April 21, 2017 and any periodic reports that we have subsequently filed with the SEC. Any of these may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. We expressly disclaim any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.
Chief Commercial Officer
Integrated Corporate Relations, Inc.
Source: CareDx, Inc.
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