CMS Awards Tempus With Advanced Diagnostic Laboratory Test Status For Its xT CDx. Test; Initial ADLT Rate Established By CMS Is $4,500
Portfolio Pulse from Benzinga Newsdesk
Tempus AI, Inc. (NASDAQ:TEM) has been awarded Advanced Diagnostic Laboratory Test (ADLT) status by the Centers for Medicare & Medicaid Services (CMS) for its xT CDx next-generation sequencing assay. The initial ADLT rate is set at $4,500, and Tempus will be reimbursed at this rate from July 1, 2024, to March 31, 2025, while it collects private payor payment amounts.
July 02, 2024 | 1:32 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Tempus AI, Inc. (NASDAQ:TEM) has received ADLT status from CMS for its xT CDx sequencing assay, with an initial reimbursement rate of $4,500. This status is expected to positively impact Tempus' revenue and market position in the precision medicine sector.
The ADLT status and the initial reimbursement rate of $4,500 for xT CDx will likely boost Tempus' revenue and enhance its market position. The recognition by CMS validates the clinical utility and innovation of Tempus' product, which could attract more investors and clients.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100