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

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

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

IceCure famous that this cost task 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 looking for FDA clearance for the system.

ProSense System is designed to destroy tumors by means of cryoablation (freezing).

IceCure famous that its software 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 cost group task for cryoablation of breast most cancers, the corporate added.

Beneath the non permanent CPT Class 3 code, IceCure’s process is priced for protection by the CMS at ~$3.4K for the power price alone, in line with the corporate.

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