Renalytix AI PLC Medicare provider number (3212I)
01 April 2020 - 5:00PM
UK Regulatory
TIDMRENX
RNS Number : 3212I
Renalytix AI PLC
01 April 2020
Renalytix AI plc
("RenalytixAI", the "Company")
Noridian Healthcare Solutions qualifies RenalytixAI as provider
for services
Qualification an important milestone towards Medicare Coverage
determination
Renalytix AI plc (LSE : RENX), the AIM-traded developer of
clinical grade artificial intelligence in vitro diagnostics for
kidney disease, announces that it has been granted a Medicare
provider number for the Company's Salt Lake City Utah clinical
laboratory.
The Company's application for a Medicare Provider Transaction
Access Number ("PTAN") was reviewed by Noridian Healthcare
Solutions, the regional Medicare Administrative Contractor ("MAC")
with responsibility for overseeing facilities and providers located
in the western United States. RenalytixAI is now qualified as a
provider and can bill for services provided to patients with
Medicare and Medicaid health insurance coverage in the United
States.
The Company estimates that Medicare and Medicaid insurance
programmes cover between 50% - 60% of patients likely to benefit
from KidneyIntelX(TM) testing.
Receiving a Medicare PTAN is an important milestone toward
obtaining a Medicare coverage determination for KidneyIntelX(TM) .
The Company is immediately initiating efforts to secure a Local
Coverage Determination through the Molecular Diagnostic Services
(MolDX) Program. MolDX was developed by Palmetto GBA, another MAC,
in 2011 to identify and establish coverage and reimbursement for
molecular diagnostic tests. This programme performs the following
functions for MACs by:
-- Facilitating detailed and unique identification through
registration of molecular diagnostic tests to facilitate claims
processing and to track utilization;
-- Establishing clinical utility expectations;
-- Completing technical assessments of published test data to
determine clinical utility and coverage; and
-- Establishing reimbursement.
When issued the local coverage determination will mean that the
Salt Lake City laboratory can be reimbursed for KidneyIntelX(TM)
testing for any Medicare and Medicare Advantage plan participant
residing in the United States and its territories. This coverage
determination would also apply to any other RenalytixAI laboratory
in the region covered under an agreement with the MolDX
program.
Further updates will be provided when appropriate.
For further information, please contact:
Renalytix AI plc www.renalytixai.com
James McCullough, CEO Via Walbrook PR
Stifel (Nominated Adviser & Joint Broker) Tel: 020 7710 7600
Alex Price / Jonathan Senior / Ben Maddison
N+1 Singer (Joint Broker) Tel: 020 7496 3000
Aubrey Powell / George Tzimas (Corporate Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR Limited Tel: 020 7933 8780 or renalytix@walbrookpr.com
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / 07584 391
303
About Kidney Disease
Kidney disease is now recognised as a public health epidemic
affecting over 850 million people globally. The Centers for Disease
Control and Prevention (CDC) estimates that 15% of US adults, or 37
million people, currently have chronic kidney disease (CKD).
Further, the CDC reports that 9 out of 10 adults with CKD do not
know they have it and 1 out of 2 people with very low kidney
function who are not on dialysis do not know they have CKD*. Kidney
disease is referred to as a "silent killer" because it often has no
symptoms and can go undetected until a very advanced stage. Each
year kidney disease kills more people than breast and prostate
cancer. Every day, 13 patients in the United States die while
waiting for a kidney transplant.
*
https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html
About RenalytixAI
RenalytixAI is a developer of clinical grade, artificial
intelligence-enabled in vitro diagnostic solutions for kidney
disease, one of the most common and costly chronic medical
conditions globally. The Company's products are being designed to
make significant improvements in kidney disease diagnosis,
transplant management, clinical care, and patient stratification
for drug clinical trials. For more information, visit
renalytixai.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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