iCAD, Inc. (Nasdaq: ICAD), an industry leading provider of advanced image analysis, workflow solutions and radiation therapies for the early identification and treatment of cancer, today announced that the American Medical Association (AMA) has assigned new Current Procedural Terminology (CPT) codes for Intraoperative Radiation Therapy (IORT). The new CPT codes, 77424 ( IORT delivery, x-ray, single treatment session) and 77469 ( IORT management), will be reported by hospitals and physicians offering IORT treatment for patients. As of January 1, 2012 these codes will provide reimbursement for the hospitals and physicians offering not only breast IORT but also other single-dose IORT clinical applications to their patients.
The request for these new codes was submitted to the AMA by the American Society of Therapeutic Radiation Oncology (ASTRO). The AMA requires that all requests for new CPT codes are supported by peer reviewed clinical literature that demonstrates safety, efficacy and improved outcomes and has wide spread acceptance among physicians across the country.
“The assignment of these new codes demonstrates that electronic brachytherapy is clearly accepted by physicians as an appropriate clinical alternative for cancer patients. We expect these new codes will enhance adoption by providing hospitals and physicians with more appropriate reimbursement when treating cancer patients,” said Ken Ferry, President and CEO of iCAD. “We are pleased that the AMA has identified a need for appropriate coding that will allow patients increased access to treatment options that meet their clinical diagnosis, while minimizing radiation exposure to healthy tissue.”
IORT is completed with one course of therapy as an alternative to a five to seven week course of external beam radiation following lumpectomy. The new codes will be reported for iCAD’s Xoft Axxent® eBx™ Electronic Brachytherapy System, a non-radioactive treatment for breast brachytherapy. This system uses a proprietary platform that delivers a concentrated beam of isotope-free radiation, directly where the cancer is most likely to recur, in and around the tumor cavity, without exposing healthy tissue to radiation.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV