Cyclopharm (ASX:CYC) has announced that Technegas received Pass-Through status from the US Centre for Medicare and Medicade Services (CMS).
The company said the milestone will provide full reimbursement for Technegas.
The Technegas technology produces a gas-like substance inhaled by the patient. Then, it allows multiple views and tomography imaging under a gamma or single photon emission computed tomography camera to evaluate functional ventilation imaging.
The CMS decision sets healthcare reimbursement rates in the US.
Cyclopharm CEO James McBrayer said, “We are delighted to receive this earlier than expected positive notification from CMS which, now that the financial impost has been removed, is expected to accelerate the rollout for Technegas in the US.”
“The timing of this decision could not have come at a better time. Later this week, Cyclopharm will have a significant presence at the first major US Society of Nuclear Medicine and Molecular Imaging (SNMMI) conference to be held since the company received USFDA approval of Technegas in October last year. We look forward to sharing in person this important reimbursement news with our key clinical constituents,” added Mr McBrayer.