3rd Jan 2020 09:26
(Alliance News) - Renalytix AI PLC said Friday the national price for its kidney disease treatment in the US - which is set until December 2022 - has become effective.
As of Wednesday this week, the KidneyIntelX test will cost Medicare patients USD950 per test.
The price was set by the Centers for Medicare & Medicaid Services, a US federal agency, which administers the two government programmes.
Medicare is subsidised health insurance for people over 65. It also covers some younger people with disabilities, and those with end-stage renal disease.
The US Centers for Medicare & Medicaid Services released its final 2020 clinical laboratory fee schedule, in early December. This price remains in effects for a three-year term ending December 2022.
"For patients covered by Medicare the national price paid for outpatient laboratory testing is established through the CLFS process. Each year, new laboratory test codes are added to the CLFS and pricing is developed through a public comment process and review and finalisation by CMS," Renalytix explained.
At the end of the three-year period, the price will be reset based on an average of reported private payor payments for the test or laboratory service, the company said. However, if the reset price were to fall, the decrease is capped at no more than 15%.
KidneyIntelX has been developed by Renalytix and is intended to improve outcomes in kidney disease patients. It combines machine learning, blood-based biomarkers, and a patient's own electronic health record to asses the risk of rapid kidney disease progression.
Renalytix said it is pursuing coverage determinations in order to ensure KidneyIntelX is available to patients in the US with both public and private health insurance coverage.
Shares in Renalytix were up 0.6% in London on Friday morning at 366.20 pence each.
By Paul McGowan; [email protected]
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