LungLife AI, INC Final Pricing Determination (0001I)
November 30 2022 - 2:00AM
UK Regulatory
TIDMLLAI
RNS Number : 0001I
LungLife AI, INC
30 November 2022
LungLife AI, Inc.
(the "Company" or "LungLife")
Final Pricing Determination
Medicare Grants Pricing for LungLife's LungLB(R) Early Lung
Cancer Diagnostic
LungLife AI (AIM: LLAI), a developer of clinical diagnostic
solutions for lung cancer, announces that the Centers for Medicare
& Medicaid Services ("CMS") has granted a price at $2,030 per
test for the LungLB(R) early lung cancer detection diagnostic. This
final CMS payment determination will be listed in the Calendar Year
2023 Clinical Laboratory Fee Schedule (CLFS) and will apply to all
eligible Medicare patients tested by LungLB(R).
Medicare, a national health insurance program in the US, covers
63.9 million lives and indeterminate lung nodules are often found
in patients of an age typically covered by Medicare. The
determination to crosswalk means Medicare beneficiaries will now
have a national price for the LungLB(R) test effective as of
January 1, 2023. This represents completion of a key Company
milestone as it supports the plan to seek comprehensive
reimbursement for the test.
Paul Pagano, CEO for LungLife said: "This is a major commercial
milestone for LungLB(R) and brings us closer to delivering the test
to the people who need it most. We are very pleased to have secured
a favourable crosswalk decision which creates added certainty and
avoids a year long process of determining price as would be the
case under gapfill."
For further information please contact:
LungLife AI, Inc. www.lunglifeai.com
Paul Pagano, CEO Via Walbrook PR
David Anderson, CFO
Investec Bank plc (Nominated Adviser Tel: +44 (0)20 7597 5970
& Broker)
Daniel Adams / Virginia Bull / Cameron
MacRitchie
Walbrook PR Limited Tel: +44 (0)20 7933 8780 or LungLifeAI@walbrookpr.com
Paul McManus / Alice Woodings / Phillip Mob: 07980 541 893 / 07407 804 654 /
Marriage 0 7867 984 082
About LungLife AI
LungLife AI is a developer of clinical diagnostic solutions
designed to make a significant impact in the early detection of
lung cancer, the deadliest cancer globally. Using a minimally
invasive blood draw, the Company's LungLB(R) test is designed to
deliver additional information to clinicians who are evaluating
indeterminate lung nodules. For more information visit
www.lunglifeai.com
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