MADISON, Wis.--(BUSINESS WIRE)--Exact Sciences Corp. (NASDAQ: EXAS) — The reimbursement amount published today for Cologuard in the 2015 Clinical Diagnostic Laboratory Fee Schedule is inconsistent with what the Centers for Medicare and Medicaid Services (CMS) publicly communicated on November 25, 2014 when CMS issued a final payment decision for Cologuard using the crosswalk methodology to CPT codes 81315, 81275, and 82274. Utilizing the crosswalk methodology based on the updated 2015 fee schedule the total for these codes is $500.76. Exact Sciences is working with CMS to clarify and will communicate more information once it becomes available.
CMS has a process to establish payment rates for clinical laboratory tests and Exact Sciences followed that process. On July 11, 2014, Exact Sciences proposed a crosswalk methodology for Cologuard to CPT codes, 82274, 81275 and 81315. CMS agreed with that crosswalk methodology when they published their preliminary payment recommendation on October 11, 2014. CMS received public comments on that recommendation and on November 25, 2014 published their final recommendation which affirmed the crosswalk methodology.
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.
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