Itamar Medical Ltd. (TASE:ITMR) today announced that the American Medical Association (AMA) has awarded the company’s Watch-PAT ambulatory sleep apnea monitor a category III Current Procedural Terminology (CPT) code.
The step is a move toward insurance reimbursement for using the device.
A CPT makes it possible to initiate the widespread collation of data, since it standardizes the reporting of the usage. If the device passes the process, a price will be set for diagnosis testing and procedures for the device, and the AMA will review the device for category I classification. Category III is generally used for emerging technologies, though the AMA said that category III does not mean that Itamar's device is "experimental".
Itamar Medical’s share rose over 22% by early afternoon today on turnover of NIS 194,000. The share’s average daily turnover in the past 90 days was NIS 15,000.
The Watch-PAT is Itamar Medical’s most advanced product. In March, the US Center for Medicare and Medicaid Services (CMS) approved the device for inclusion in its health products basket.
Published by Globes [online], Israel business news - www.globes-online.com - on July 5, 2009
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