American Medical Association Grants Cardio Diagnostics Holdings, Inc.'s AI-Powered Coronary Heart Disease Detection Test, PrecisionCHD, A Dedicated CPT PLA Reimbursement Code
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Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) has been assigned a dedicated CPT PLA code by the AMA for its AI-driven CHD detection test, PrecisionCHD. This code is crucial for securing reimbursement and broadening access to the test. PrecisionCHD, which uses genetic-epigenetic analysis and AI, aims to improve CHD diagnosis and patient outcomes while reducing healthcare costs. The test's scalability and remote deployment capabilities can enhance care delivery, especially in underserved areas. The innovation of PrecisionCHD has been recognized in a study and by Vizient, Inc.
January 02, 2024 | 1:42 pm
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Cardio Diagnostics Holdings, Inc. received a CPT PLA code for its PrecisionCHD test, which is expected to facilitate reimbursement and increase the test's adoption. This development could lead to higher revenues and market penetration for CDIO.
The assignment of a CPT PLA code by the AMA is a significant endorsement for the PrecisionCHD test, which is likely to enhance its credibility and acceptance among healthcare providers and payers. This can lead to increased usage of the test, potentially boosting CDIO's revenues in the short term. The confidence score is not at the maximum because the actual impact on revenues will depend on the rate of adoption and the reimbursement rates set by payers.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100