Beacon Biomedical’s BeScreened-CRC Test new CPT Reimbursement Code 0163U is now active for Colon Cancer Screening.
On April 1, 2020, a new Proprietary Laboratory Analysis CPT Reimbursement Code from the American Medical Association (AMA) specifically for Beacon Biomedical’s BeScreened-CRC test went into effect. That new CPT Code is 0163U.
Be-Screened CRC, a laboratory-based test, measures three tumor associated proteins in the blood using proprietary analytical methods and a relational algorithm to determine the likely presence or absence of colorectal cancer or advanced adenomas. Prior to this new code, Beacon’s had to use a more generic CPT code that resulted in numerous claim processing and payments delays, as well as claim denials. This new CPT code will make it easier for patients, practitioners and payers alike to order and process reimbursement claims.
Each year there are 34 million people that are non-compliant with colon cancer (CRC) screening with devastating consequences as they will account for 50% of all new colon cancer cases diagnosed, 63% of all the colon cancer related deaths and 75% of all associated colon cancer treatment costs. In 2020 the American Cancer Society estimates that over 53,200 people will die from colon cancer. BeScreened-CRC is a blood test aimed at the screening non-compliant population as another “tool-in-the-toolbox” for practitioners and patients alike to help improve compliance with screening and, in doing so, help to save more lives, reduce healthcare costs and stem the loss of job productivity associated with this devastating disease.
Patients will need to check with their insurance companies to determine coverage because not all plans are the same having different levels of co-pays, deductibles, medical necessity criteria, etc. BeScreened-CRC is also eligible for reimbursement from all plans having funded Health Saving Accounts (HSA).
Presently, Beacon Biomedical is targeting its home state of Arizona where some 890,000 men and women are non-compliant with their colorectal cancer screening; approximately 432,000 of them are in Maricopa County alone.
Arizona is also a state that allows consumer-directed testing. As such, for those Arizonans who are taking advantage of being able to order their own testing, or for those individuals who are without insurance or have very high annual deductibles with their respective health plans, they will soon be able to order BeScreened-CRC directly from Beacon by going to https://www.bescreened.com and pay only $190 for the test. It is anticipated Beacon will have this site active for on-line ordering in May.
It is projected that in the U.S alone, the direct medical costs associated with colon cancer will exceed $17B dollars and the additional loss of productivity to the workplace and economy will be even greater topping over $20B dollars. To help reduce this impact, Beacon Biomedical is also working closely with self-insured companies through their corporate health and wellness programs who are offering Beacon’s BeScreened-CRC test as a covered benefit. If you are a self-insured company and would like to learn how to offer this screening to your employees email firstname.lastname@example.org or call 480-757-9037.
About Beacon Biomedical
Beacon Biomedical Inc. is a CLIA accredited proteomic diagnostics laboratory focused on developing and commercializing blood-based tests for earlier cancer detection. The company’s lead product, BeScreened™-CRC, is a blood-based test for the earlier detection of colorectal cancer. Beacon’s product development pipeline includes early detection assays for breast, lung, prostate and ovarian cancers. For more information about Beacon visit, www.beaconbiomedical.com
News Provided By Jacqueline Hein
Jacqueline Hein is COO for Xcellerate and Advisor for Beacon Biomedical. Her experience in working with major carriers, providers and corporations offers a unique perspective on the Biomedical industry. Her background includes working in industry giants including Chubb, Travelers, and Optum/United Healthcare. She provides analysis and commentary to investors and capital groups seeking to learn more on opportunities to invest in this dynamic field.