American Medical Association Establishes New CPT Code for Corgenix AspirinWorks(R) Test Kit
22 Oktober 2009 - 3:15PM
PR Newswire (US)
ASPIRINWORKS TEST IS ONLY FDA CLEARED TEST TO MEASURE THROMBOXANE
METABOLITES DENVER, Oct. 22 /PRNewswire-FirstCall/ -- Corgenix
Medical Corporation (OTC:CONX) (BULLETIN BOARD: CONX) , a worldwide
developer and marketer of diagnostic test kits, announced today
that a new Category I Current Procedural Terminology (CPT) code has
been published by the American Medical Association (AMA) for the
AspirinWorks® Test Kit. This important action becomes effective
January 1, 2010. "We are very pleased that the AMA has created this
unique CPT code that describes our AspirinWorks product," said
Douglass Simpson, Corgenix President and Chief Executive Officer.
"These codes are important to patients, physicians and hospitals
because they recognize the widespread acceptance of the test and
the clinical evidence supporting testing for levels of thromboxane
metabolites in urine." Category I CPT codes are restricted to
clinically recognized and generally accepted services, and not
emerging technologies, services or procedures. The new CPT code for
AspirinWorks is: -- 84431 Thromboxane metabolite(s), including
thromboxane if performed, urine CPT codes are the most widely
accepted form of medical nomenclature used to report medical
procedures and services. The purpose of CPT is to provide a uniform
language that accurately describes medical, surgical and diagnostic
services. Physicians, hospitals and other health care providers use
CPT codes to report medical services to private and public health
insurance systems for purposes of reimbursement. A standard system
of coding also allows for reliable nationwide data collection. CPT
is trademarked by the AMA, which first published the codes in 1966.
Among the AMA's stated criteria for a new Category I CPT code are
requirements that: -- the procedure has received approval or
clearance from the Food and Drug Administration (FDA) for the
specific use of devices or drugs -- the procedure is a distinct
service performed by many physicians/practitioners across the
United States and -- the clinical efficacy of the procedure is well
established and documented in U.S. peer-reviewed literature More
than one million Americans experience new or recurrent heart
attacks each year. At-risk individuals are eligible for aspirin
therapy and should be tested for the presence or absence of the
therapy's effect. The AspirinWorks Test Kit is an enzyme-linked
immunoassay (ELISA) to determine levels of 11dehydro thromboxane B2
(11dhTxB2) in human urine, which aids in the qualitative detection
of aspirin effect in apparently healthy individuals post ingestion.
About CPT Coding In addition to facilitating reimbursement in
government programs such as Medicare and Medicaid, CPT codes are
used by other insurance companies and government payers to describe
health care services and procedures. More information about CPT
codes and the process of establishing CPT codes is available at the
AMA's website: http://www.ama-assn.org/ About Corgenix Medical
Corporation Corgenix is a leader in the development and
manufacturing of specialized diagnostic kits for immunology
disorders, vascular diseases and bone and joint disorders,
including the world's only non-blood-based test for aspirin effect.
Corgenix diagnostic products are commercialized for use in clinical
laboratories throughout the world. The company currently sells over
50 diagnostic products through a global distribution network. More
information is available at http://www.corgenix.com/. Statements in
this press release that are not strictly historical facts are
"forward-looking" statements (identified by the words "believe,"
"estimate," "project," "expect" or similar expressions) within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements inherently involve risks and uncertainties that
could cause actual results to differ materially from the
forward-looking statements. Factors that would cause or contribute
to such differences include, but are not limited to, continued
acceptance of the Company's products and services in the
marketplace, competitive factors, changes in the regulatory
environment, and other risks detailed in the Company's periodic
report filings with the Securities and Exchange Commission. The
statements in this press release are made as of today, based upon
information currently known to management, and the company does not
undertake any obligation to publicly update or revise any
forward-looking statements. DATASOURCE: Corgenix Medical
Corporation CONTACT: Company, William Critchfield, Senior VP and
CFO of Corgenix Medical Corporation, +1-303-453-8903, ; or Media,
Dan Snyders, Vice President, Public Relations Supervisor of Armada
Medical Marketing, +1-303-623-1190, ext. 230, Fax, +1-303-623-1191,
, for Corgenix Medical Corporation Web Site:
http://www.corgenix.com/ http://www.ama-assn.org/
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