Austin, TX 3/6/12 (StreetBeat) -- Vermillion, Inc. (NASDAQ: VRML), a leading molecular diagnostics company, reported that the American Medical Association (AMA) Current Procedural Terminology (CPT®) Panel has voted to approve an application for a Category 1 CPT code for its OVA1® test, which is designed to help differentiate benign versus malignant ovarian masses.The AMA recently disclosed the new code on its website, which will become effective January 1, 2013.
"This is a major achievement for OVA1 and an endorsement for the unmet clinical need addressed by this important triage test," said Gail S. Page, Vermillion's president and chief executive officer. "This approval was supported by several peer-reviewed publications and positive coverage decisions, including Medicare. The new CPT code is a critical step in advancing the commercialization of OVA1, as we believe it will help streamline claims processing and accelerate further coverage and adoption by private payers."
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