NEW YORK — Interpace Biosciences said on Tuesday that the US Centers for Medicare & Medicaid Services has reversed an earlier decision not to reimburse for the company's thyroid cancer tests when they were billed together.
In January, Interpace said that CMS had issued a new billing policy and will no longer reimburse for the ThyGeNext and ThyraMir tests when the tests are billed together by the same provider for the same beneficiary on the same date of service. In connection with the news, Interpace terminated a previously announced rights offering.
However, the Parsippany, New Jersey-based company said on Tuesday that the National Correct Coding Initiative issued a response on behalf of CMS stating that the billing policy reimbursement has been changed retroactive to Jan. 1. As a result, Interpace will continue billing for both tests according to its laboratory coverage determination as originally set by Novitas.
The updated policy will be posted on CMS' website and included in its July 1 edit file, Interpace added.
"We appreciate the prompt consideration of our appeal by NCCI and CMS to prevent any beneficiary access issues for our Medicare covered thyroid testing," Interpace CEO Tom Burnell said in a statement.