IceCure soars 44% as ProSense system for breast most cancers will get Medicare fee group

IceCure Medical (NASDAQ:ICCM) inventory rose ~44% on Tuesday after the corporate mentioned its ProSense system for breast most cancers cryoablation procedures was assigned to a Medicare fee group for hospital outpatient fee.

The Facilities for Medicare & Medicaid Companies (CMS) assigned ProSense breast most cancers cryoablation procedures with CPT Class 3 code 0581T to ambulatory fee classification 5091, Stage 1 Breast/Lymphatic Surgical procedure and Associated Procedures, the corporate added.

IceCure famous that this fee project for the process will go into impact on Jan. 1, 2023, topic to getting U.S. Meals and Drug Administration (FDA) advertising authorization for ProSense for breast most cancers.

In October, the corporate filed a De Novo classification request searching for FDA clearance for the system.

ProSense System is designed to destroy tumors via cryoablation (freezing).

IceCure famous that its utility is the primary and solely Medicare protection approval of cryoablation process for breast most cancers. The appliance to the CMS, is the primary and solely fee group project for cryoablation of breast most cancers, the corporate added.

Below the short-term CPT Class 3 code, IceCure’s process is priced for protection by the CMS at ~$3.4K for the ability price alone, in response to the corporate.

“We consider IceCure is the one firm that has the medical knowledge wanted to maneuver cryoablation ahead on each the regulatory and reimbursement entrance and to offer girls dealing with breast most cancers what they deserve—a state-of-the-art optimized, minimally invasive know-how that destroys tumors, to allow them to merely stroll out of the process room and return to a cancer-free life,” mentioned IceCure CEO Eyal Shamir.