Perthera.ai, the industry leader in Oncology Decision Support, announces the release by the American Medical Association of a new Current Procedural Terminology (CPT) Category III code, 0794T, clearly recognizing the increasing importance of AI-assisted decision support in delivering precision oncology care. Perthera.ai is a pioneer in personalized AI-assisted Oncology decision support with it’s patented ranked therapy options presented in the Perthera Report that is created by our Precision Oncology Platform.
Perthera.ai’s patented process provides physicians with an easy-to-use report with therapy options ranked by a unique approach combining existing evidence, real world evidence (RWE), a patient’s past medical and treatment history, and their multi-omic molecular profile. The Perthera.ai approach to Precision Oncology combines AI capabilities with “humans in the loop” using a Virtual Molecular Tumor Board of disease-specific experts to further refine ranked options for every single patient. As new information becomes available for the patient, an updated report can be generated providing ongoing therapy decision support to the physician as the patient goes through their unique cancer journey.
CPT codes are created and maintained by the AMA CPT Editorial Panel and are used by government payers, including Medicare, Medicaid, and commercial health plans to identify healthcare services and procedures that are eligible for reimbursement. Category III CPT codes apply to emerging technologies and are valid for at least five years in order to measure both utilization and unique benefits, at which time the AMA may award a Category I CPT Code. Category III CPT codes serve as an important milestone for FDA approval and payment negotiations. This new CPT code will go into effect on July 1, 2023.
“The issuance of this CPT code provides a critical pathway to reimbursement and allows Perthera.ai to continue its mission to define excellence and scientific rigor in the area of clinically useful, AI-assisted Oncology decision support” said Albert Kelley, President and CEO of Perthera.ai. “We continue to improve and perfect our industry-defining patented process that provides doctors and patients with evidence-based options based on not only the genomic and molecular findings, but also taking into account prior therapy and the essential addition of expert review via our unique asynchronous Virtual Molecular Tumor Board” said Emanuel “Chip” Petricoin, PhD, Chief Science Officer and Co-Founder of Perthera.ai.