CMS Posts Final Payment Determination For bioAffinity Technologies' CyPath Lung Effective January 2024
Portfolio Pulse from Benzinga Newsdesk
bioAffinity Technologies, Inc. (NASDAQ:BIAF, BIAFW) announced CMS' final payment determination for CyPath Lung, a noninvasive lung cancer test, effective January 2024. This facilitates reimbursement by Medicare and private payers, aiding commercialization. The AMA issued CPT code 0406U for CyPath Lung in June 2023, with CMS finalizing payment in November 2023. CyPath Lung uses flow cytometry and AI for early-stage lung cancer detection, showing high sensitivity and specificity in clinical trials.
November 30, 2023 | 1:11 pm
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CMS' final payment determination for CyPath Lung is a significant milestone for bioAffinity Technologies, likely to boost its commercialization efforts and increase its attractiveness to physicians and patients.
The CMS payment determination directly impacts bioAffinity Technologies' potential revenue and market penetration for CyPath Lung. This regulatory approval is a critical step in the commercialization process, likely to be viewed positively by investors and could lead to increased stock demand in the short term.
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