SciBase submits first reimbursement application to CMS in Florida
STOCKHOLM, May 4, 2021 /PRNewswire/ -- SciBase Holding AB ("SciBase") (STO:SCIB), a leading developer of augmented intelligence-based solutions for skin disorders, announced today that an application for Medicare coverage of the Nevisense procedure has been submitted in Florida.
In October 2020, SciBase was granted a Category III CPT® (CPT III) code from the American Medical Association (AMA) for the Nevisense melanoma detection test. This was the first step in the process to receive reimbursement coverage in the U.S.
The application submission for Medicare coverage in Florida marks an important step in the reimbursement process for SciBase. The application was submitted to the Medicare Administrative Contractor (MAC) covering Florida, First Coast Service Options (FCSO). A positive decision may be reached as early as the second half of 2021, which would significantly broaden the early melanoma detection market opportunity throughout Florida, where SciBase has a well-established user base. It is estimated that around 10,000 invasive melanomas will be diagnosed in Florida in the coming year which represents 10% of the total in the US. The biopsies performed to find these melanomas are in the hundreds of thousands.
"Coverage from CMS is critical for new tests such as ours, so this first submission is a major milestone for SciBase and for Nevisense in the U.S.," said Simon Grant, CEO of SciBase. "Medicare coverage in Florida presents a significant opportunity for SciBase as there are nearly 5 million Medicare beneficiaries in the state. It also provides an opportunity to expand within our partner Advanced Dermatology and Cosmetic Surgery group's (ADCS) network of 70 Florida clinics. It is symbolic that we submitted the application on Melanoma Monday and at the start of Skin Cancer Awareness month in the US. We believe that Nevisense can play a central role in improving the quality of skin cancer detection in the U.S., and especially so in the patient demographic covered by Medicare."
For more information please contact:
Simon Grant, CEO SciBase
Tel: +46 72 887 43 99
Tel: +46 8 409 421 20
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 May 4, 2021.
About SciBase and Nevisense
SciBase AB is a global medical technology company based in Stockholm, Sweden that develops unique point-of-care devices for the evaluation of skin disorders such as skin cancer and atopic dermatitis. SciBase's first product, Nevisense, helps clinicians detect melanoma, the most dangerous type of skin cancer. Further development has led to Nevisense also being used as a tool to assess the skin barrier and non-melanoma skin cancer. Nevisense is based on substantial research and has achieved excellent results in the largest clinical study ever conducted on the detection of malignant melanoma. Nevisense is CE marked in Europe, has TGA approval in Australia and an FDA approval (PMA) in the United States. SciBase technology is based Electrical Impedance Spectroscopy (EIS) combined with Artificial Intelligence (AI) algorithms that interpret the varying electrical properties of human tissue to detect malignancies and abnormalities. SciBase Holding AB is listed on First North Growth Market ("SCIB"). Further information is available at www.scibase.com.
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