QuantalX announces the authorization of a dedicated US reimbursement code for its point-of-care brain health test by the American Medical Association (AMA). This significant milestone, occurring as the company enters its pre-commercialization phase and establishes a new headquarters in NYC, will drive widespread adoption in the US market.
NEW YORK, Nov. 2, 2023 /PRNewswire/ — QuantalX Neuroscience, a pioneering healthcare company dedicated to early detection of brain disorders, is pleased to announce that it has secured a US reimbursement code, 0858T, from the American Medical Association (AMA). This milestone achievement is a significant part of the company’s pre-commercialization strategy in the US.
The newly assigned CPT code signifies Delphi-MD’s importance in early brain health assessment, catering to brain health evaluation procedures at any clinical setting using a collaborative care model. The Delphi-MD technology is a first-in-class automated, Direct Neuro-Physiological technology to detect and assess brain abnormalities, as well as predict treatment response. The procedure does not require patient participation as it safely and magnetically evokes individual neuronal signatures that indicate normal/abnormal brain function, generating an instant clinical report for informed treatment decisions by physicians.
QuantalX’s Delphi-MD technology has received the Breakthrough FDA Designation status for two separate indications, demonstrating its potential in transforming patient care and clinical outcomes. The first Breakthrough Designation focuses on identifying patients at risk of dementia and stroke, enabling early identification of functional and structural brain abnormalities indicative of early-stage neurodegeneration. The second designation pertains to diagnosing Normal Pressure Hydrocephalus (NPH) patients and predicting their response to the effective treatment of ventriculoperitoneal shunting (VPS) surgery.
The Delphi-MD test offers numerous benefits to both neurologists and the healthcare system as a point-of-care procedure. Its objective, automated technological approach facilitates quick and accurate brain health assessments, sparing neurologists from time-consuming, inaccurate evaluations as well as expensive MRI or CT scans. The newly granted CPT code ensures proper reimbursement leading to widespread adoption on top of the financial benefits to payors and healthcare systems through preventative care and risk adjustment measures.
One of the most important aspects of the Delphi-MD test is its value in improving brain health-related measures for the Medicare population and at-risk individuals. Early detection can significantly improve clinical outcomes, patient experience, and reduce the burden patients and their caregivers deal with on a daily basis.
“We’re excited to receive a dedicated CPT code for Delphi-MD, marking a significant milestone in making objective brain healthcare accessible, Delphi-MD technology can now be affordable for everyone at any point of care, ensuring early detection and optimal treatment.” Dr. Iftach Dolev, PhD. CEO and Co-founder.
Consistent with its pre-commercialization efforts, QuantalX has taken a significant step forward by recently establishing its new headquarters in New-York. This strategic move reflects the company’s dedication to expanding its presence in the United States and fostering closer relationships with potential clients and partners. QuantalX is poised to position itself as a leading player in the sector to make a significant impact on early brain disorder detection and differential diagnosis, while contributing to improving patient care and enhancing healthcare outcomes on a broader scale.
About QuantalX Neuroscience
QuantalX is committed to fundamentally improving patient care and alleviating the burden on healthcare systems through objective, accurate, early detection, and differential diagnosis of brain abnormalities, leveraging its novel Direct Neuro-Physiological technology, the Delphi-MD device.