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Foundation Medicine announces coverage and payment in non-small cell lung cancer under Palmetto GBA's LCD.

M2 EQUITYBITES-March 3, 2017-Foundation Medicine announces coverage and payment in non-small cell lung cancer under Palmetto GBA's LCD

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Molecular information company Foundation Medicine Inc (NasdaqGS:FMI) revealed on Thursday the receipt of the payment for its FoundationOne comprehensive genomic profiling assay for non-small cell lung cancer (NSCLC) under Palmetto GBA's Local Coverage Determination L36143 (LCD).

The Palmetto GBA is reportedly the company's Medicare Administrative Contractor (MAC) in North Carolina.

According to the company, the FoundationOne comprehensive genomic profiling assay is used in the clinical course of care for individuals in the US with Stage IIIB/IV non-small cell lung cancer (NSCLC) who meet the eligibility requirements under Palmetto GBA's Local Coverage Determination L36143 (LCD).

In January 2017, the company began submitting an initial set of claims to Palmetto GBA for FoundationOne and received its first payments for claims under this LCD.

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Publication:M2 EquityBites (EQB)
Date:Mar 3, 2017
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