Riverain Medical has secured reimbursement codes which should make it easier to submit Medicare claims for physicians using the company's RapidScreen. The system is a chest radiography computer-aided detection (CAD) system for early-stage lung cancer.
This step is important in securing broad recognition for RapidScreen, which has demonstrated improvement in the detection of small lung cancers by 20 percent, the company said. In related news, the American Medical Association has approved a Category III Current Procedural Terminology (CPT) code the technology.
"The acquisition of CPT and non-Medicare RBRVS codes - both necessary for claims processing and reimbursement - is a significant step toward the widespread utilization of RapidScreen for the early detection of lung cancer," said Sam Finkelstein, president of Riverain Medical. "Not only does it validate the technology, it demonstrates to the providers that we are serious about helping them to address an unmet need."
The Resource Based Relative Value System (RBRVS) is used to calculate the Medicare Physician Fee Schedules that determine reimbursement for medical services to Medicare patients. Most insurers adopt the RBRVS fee schedule to determine payment. Technologies like RapidScreen that are not yet covered by Medicare, the company said.