TearLab (TEAR) Reports Center for Medicare and Medicaid Approves Reconsideration Request
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TearLab Corporation (Nasdaq: TEAR) (TSX:TLB) announced today the Centers for Medicare and Medicaid Services (CMS) has published instructions for updates to the clinical laboratory fee schedule for 2012, including a revised reimbursement rate for the TearLab® Osmolarity Test, effective January 1, 2012. The payment code of 83861 that currently applies to the TearLab Osmolarity Test will be cross-walked or paired with code 84081. At current 2011 reimbursement rates, payment code 83861 would be reimbursed in every state by CMS at $23.25 per eye.
"This provides level reimbursement for and equal access to the TearLab Osmolarity Test across all states," said Elias Vamvakas, TearLab's Chief Executive Officer. "With both the CLIA Waiver and uneven reimbursement obstacles now overcome, we can look forward to the adoption curve of this groundbreaking test steeping significantly in 2012."
"This provides level reimbursement for and equal access to the TearLab Osmolarity Test across all states," said Elias Vamvakas, TearLab's Chief Executive Officer. "With both the CLIA Waiver and uneven reimbursement obstacles now overcome, we can look forward to the adoption curve of this groundbreaking test steeping significantly in 2012."
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