Polarean's XENOVIEW greenlit for Medicare billing of lung MRI scans
Starting from October 1, 2023, clinicians in the US will be able to use code C9791 when they want to bill for XENOVIEW, or "magnetic resonance imaging with inhaled hyperpolarised xenon-129 contrast agent, chest, including preparation and administration of agent".
The code will cover the whole process, from preparing and administering xenon-129 to performing the actual chest MRI scan. The payment level associated with the XENOVIEW MRI code is expected to be received in the coming weeks.
Christopher von Jako, Ph.D., Polarean's Chief Executive Officer said: "We have been working diligently with CMS, our clinicians and hospital-based billing stakeholders over the past several months and view this as an important step towards enhancing accessibility to this innovative technology. We look forward to learning the payment details tied to the new code, in the coming weeks, as we continue to increase access to XENOVIEW™ MRI for patients suffering from ventilation-associated lung diseases."
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A huge milestone achieved for () , with the reimbursement code likely seeing increased demand for its XENOVIEW technology, potentially leading to increased revenues. The availability of a reimbursement code should also encourage wider adoption of XENOVIEW from clinicians in the US.
It is estimated that 550 million people worldwide live with chronic lung disease, demonstrating the significant demand for medical imaging to aid in early diagnosis. Providing an enhanced image of the lungs may help a variety of patients suffering from lung diseases, including idiopathic pulmonary fibrosis, COPD, pulmonary hypertension, radiation therapy, cystic fibrosis and asthma.
Polarean remains well-funded, with $16.5m in the bank at the end of 2022, positioning it well to continue advancing XENOVIEW across various stages of commercialisation in the US and beyond.
shares jumped 8.2% on the announcement.
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