STOCKHOLM, SWEDEN, – December 22, 2021 – SciBase Holding AB (“SciBase”) [STO:SCIB], a leading developer of augmented intelligence-based solutions for skin disorders, announced today that a request for an appropriate Medicare payment assignment for the Nevisense procedure has been submitted to “National Government Services” (NGS), the Medicare Administrative Contractor with carrier jurisdiction responsibility for New York and several other states.
In July 2021, the American Medical Association (AMA) assigned a Category III CPT® code for the Nevisense melanoma detection test that has been used by providers to report the use since then.
The request was submitted to NGS based on provider usage in the New York region. NGS holds the Medicare contract for New York, Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, Illinois, Minnesota and Wisconsin. A decision regarding rate assignment within NGS may be implemented in one or more of NGS jurisdictions.
"Coverage and payment from CMS are important for new procedures and technology such as ours, so this submission is an important milestone for SciBase and for Nevisense in the U.S.," said Simon Grant, CEO of SciBase. "Establishing a payment rate with NGS represents a significant opportunity for SciBase as they cover several regions with significant potential, which would allow providers to utilize this medically necessary technology in these regions. We believe that Nevisense can play a central role in improving skin cancer detection in the U.S., and especially for the important patient demographic covered by Medicare."
For more information please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Tel: +46 8 580 065 99
This information is information that SciBase Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on December 22, 2021.
About SciBase and Nevisense
SciBase is a global medical technology company headquartered in Stockholm, Sweden, that has developed a unique point of care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer within augmented intelligence, combining artificial intelligence with Electrical Impedance Spectroscopy (EIS) to provide objective information that assists dermatologists and others in clinical decision-making. SciBase's products include Nevisense and Nevisense Go and to date the platform addresses the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for skin cancer detection in Europe. SciBase's technology is based on more than 20 years of academic research at the Karolinska Institute in Stockholm, Sweden. For more information please visit www.scibase.com.