Shares of 4DMedical Ltd witnessed a significant surge, jumping 67% to 77 cents on the ASX Today, following a favorable decision by the U.S. Centers for Medicare & Medicaid Services (CMS). The CMS has sanctioned the billing of the company's XV LVAS scans at a rate of $299 per scan for Medicare patients, starting from January 1, 2024.
The approval marks a pivotal achievement for the Australian medical technology firm, as it allows outpatient services to bill for the procedure. Andreas Fouras, the CEO of 4DMedical, hailed the CMS ruling as a major milestone that is expected to drive broader adoption of their patented XV Technology and its accompanying software, CT LVAS.
This technology is designed to enhance the understanding of regional lung airflow and aids in the early detection of respiratory deficiencies. The CMS approval is anticipated to catalyze an uptick in utilization due to its potential to improve patient outcomes and streamline clinical workflows.
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