Healthcare Industry News: cardiac PET
News Release - October 18, 2007
Positron Announces Potential Increase in Cardiac PET Reimbursement in 2008HOUSTON--(HSMN NewsFeed)--Positron Corporation (OTCBB:POSC ) The Centers for Medicare and Medicaid Services (CMS) has released an advance copy of CMS-1392-P Proposed Changes to the Hospital Outpatient Prospective Payment System and Calendar Year 2008 Payment Rates. The proposed rule is expected to be published in the Federal Register later this month.
CMS proposes to reassign the PET/CT codes from APC 1511 – New Technology-Level XI to APC 0308 – Non-Myocardial Positron Emission Tomography (PET) imaging. Therefore all the non-cardiac PET CPT codes would be assigned to a single APC 0308, with a new payment rate of $1,107.22.
The proposed rule maintains the assignment of all cardiac PET CPT codes to APC 0307 – Myocardial Positron Emission Tomography (PET) imaging, with a new payment rate of $2,711.25.
CMS-1392-P; Proposed Changes to the Hospital Outpatient Prospective Payment System and Calendar Year 2008 Payment Rates can be found at: http://www.cms.hhs.gov/hospitaloutpatientpps/hord/list.asp
Reimbursement information is provided by Positron Corporation as general coding and payment information. Note: This is a PROPOSED rule, not a final rule, and there will be a public comment period that closed on September 14, 2007. The final rule is expected to be published in early November and the changes will be effective January 1, 2008. Instructions on how to submit comments are listed at the end of this update.
Positron’s President Mr. Joseph Oliverio stated, “This proposed increase in the reimbursement will provide us with a great opportunity to quickly disseminate cardiac PET. This will help cardiologists seriously look at adding PET to their practice. Positron is ideally positioned to offer them as an economical compliment to SPECT.”
Positron Corporation designs, manufactures, markets and supports advanced cardiac molecular imaging devices utilizing single photon emission computed tomography (SPECT) and positron emission tomography (PET). The company’s molecular imaging systems incorporate patented and proprietary software and hardware technology for the diagnosis and treatment of patients with heart disease. Positron Corporation offers unique combination of low cost technology and disease specific software solutions differentiating themselves from all other medical device manufacturers. Additional information may be found at http://www.positron.com and http://www.is2medical.com.
Forward Looking Statements:
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance and may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The words “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” and similar expressions are intended to identify such forward-looking statements. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission.
For further information please contact Positron Corporation at (281) 492-7100.
Source: Positron Corporation
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