4DMedical expands XV LVAS scans to Detroit and Memphis imaging facilities
4DMedical Limited (ASX: 4DX), a renowned respiratory imaging technology company, has entered into agreements to deliver its XV LVAS scans at imaging facilities in Detroit, Michigan, and Memphis, Tennessee. This expansion comes following the recent U.S. Centers for Medicare & Medicaid Services (CMS) approval of reimbursement for the XV LVAS procedure at a rate of $299, effective January 1, 2024.
Strategic Agreements with PrecisionIR and Memphis Vascular Center
PrecisionIR, a leading radiology practice in Detroit, Michigan, has signed a Software as a Service (SaaS) agreement with 4DMedical to offer XV LVAS scans at their outpatient clinic starting January 1, 2024. Similarly, Memphis Vascular Center, an independent outpatient imaging facility in Memphis, Tennessee, will also provide the same service. These outpatient facilities offer patients a convenient and patient-centric alternative to hospital networks, enhancing access to XV LVAS exams.
New Agreements Boost 4DMedical’s U.S. Presence with XV LVAS Scan Availability
Impact of CMS Reimbursement on U.S. Market Uptake
The swift signing of these agreements post-CMS announcement demonstrates the significant impact of reimbursement on market adoption in the U.S. These partnerships represent a scalable pathway to additional revenue for 4DMedical, complementing its strategy of partnering with traditional hospital providers.
Expert Opinions on the Advanced Imaging Technology
Dr. S. Andrew Vartanian, a board-certified Interventional Radiologist and Medical Director of PrecisionIR, highlighted the benefits of 4DMedical’s XV Technology. This technology enables physicians to analyze regional airflow in the lungs and identify respiratory deficiencies. Dr. Vartanian emphasized the importance of this non-invasive, 5-minute procedure, especially for the veteran community exposed to toxic burn pits.
4DMedical’s CEO Enthusiastic About Commercial Opportunities
4DMedical’s MD/CEO and Founder, Andreas Fouras, expressed excitement about serving patients in Detroit and Memphis. The company’s rapid growth in the U.S., even before the CMS payment implementation, underscores the transformative nature of the technology. Fouras anticipates sharing further progress in the near future.