Cardio Diagnostics Holdings Inc. CDIO shares are rocketing higher Tuesday after the company announced that the American Medical Association (AMA) has assigned a dedicated Current Procedural Terminology (CPT) Proprietary Laboratory Analysis (PLA), for the company's AI-driven coronary heart disease (CHD) detection test, PrecisionCHD.
The Details:
Cardio Diagnostics said that receipt of the CPT PLA code is a significant step toward payer billing and payment and will facilitate broader adoption of the company's genetic-epigenetic diagnostic blood test for CHD. The code will be effective on April 1, 2024.
"Cardio Diagnostics is committed to ensuring that our solutions are widely accessible and receiving a dedicated CPT PLA code for PrecisionCHD is a critical milestone in our commercialization strategy," said Meesha Dogan, Ph.D., CEO of Cardio Diagnostics. "With PrecisionCHD, we believe that expanding equitable access to CHD diagnostics and improving patient health outcomes while reducing healthcare expenditure is possible."
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CDIO Price Action: According to Benzinga Pro, Cardio Diagnostics shares are up 39% at $3.46 at the time of publication.
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