MADISON, Wis.--(BUSINESS WIRE)--
Exact Sciences Corp. (Nasdaq:EXAS) today announced that the Centers for
Medicare and Medicaid Services (CMS) has published an updated 2015
Clinical Laboratory Fee Schedule, which includes reimbursement for Exact
Sciences' Cologuard® noninvasive colon cancer screening test (CPT code
G0464) at $492.72. Consistent with CMS' Nov. 25 final payment decision,
it will reimburse Cologuard based on a crosswalk to CPT codes 82274,
81275 and 81315. To establish the final 2015 reimbursement rate of
$492.72 for CPT code G0464 (Cologuard), CMS utilized an internal
calculation based on prior-year locality-specific payment rates for each
of the component codes.
The $492.72 reimbursement amount for Cologuard is a national limitation
amount (NLA) that is applicable across all states and applies to
Cologuard tests provided to Medicare beneficiaries who are enrolled in
traditional Medicare, which is also referred to as Medicare Fee for
Service. Medicare Advantage plans are required by the recent national
coverage decision to reimburse for the Cologuard test. Out-of-pocket
costs for Medicare Advantage enrollees will be determined by the
specific details of their respective plans.
"We are pleased with the final reimbursement rate for Cologuard," said
Kevin T. Conroy, chairman and chief executive of Exact Sciences. "We
appreciate the work done by the team at CMS to make this important
noninvasive colorectal cancer screening option available to the millions
of patients covered by Medicare."
About Exact Sciences Corp.
Exact Sciences Corp. (NASDAQ: EXAS) is a molecular diagnostics company
focused on the early detection and prevention of colorectal cancer. The
company has exclusive intellectual property protecting its noninvasive,
molecular screening technology for the detection of colorectal cancer.
Stool DNA technology is included in the colorectal cancer screening
guidelines of the American Cancer Society and the U.S. Multi-Society
Task Force on Colorectal Cancer. For more information, please visit the
company's website at www.exactsciences.com,
follow us on Twitter @ExactSciences
or find us on Facebook.
Certain statements made in this news release contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended that are intended to be covered by the "safe harbor"
created by those sections. Forward-looking statements, which are
based on certain assumptions and describe our future plans, strategies
and expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "could," "seek," "intend," "plan," "estimate," "anticipate" or
other comparable terms. Forward-looking statements in this news
release may address the following subjects among others: statements
regarding Medicare reimbursement rates. Forward-looking
statements involve inherent risks and uncertainties which could cause
actual results to differ materially from those in the forward-looking
statements, as a result of various factors including those risks and
uncertainties described in the Risk Factors and in Management's
Discussion and Analysis of Financial Condition and Results of Operations
sections of our most recently filed Annual Report on Form 10-K and
our subsequently filed Quarterly Reports on Form 10-Q. We
urge you to consider those risks and uncertainties in evaluating our
forward-looking statements. We caution readers not to place undue
reliance upon any such forward-looking statements, which speak only as
of the date made. Except as otherwise required by the federal
securities laws, we disclaim any obligation or undertaking to publicly
release any updates or revisions to any forward-looking statement
contained herein (or elsewhere) to reflect any change in our
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
Exact Sciences
Cara Tucker, 614-302-5622
ctucker@exactsciences.com
or
MSLGROUP
781-684-0770
exactsciences@mslgroup.com
Source: Exact Sciences Corp.
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