ArteraAI Receives Medicare Payment Rate for the ArteraAI Prostate Cancer Test
"This marks a noteworthy milestone in advancing personalized cancer care and underscores the pivotal role of AI in transforming cancer treatment," said Andre Esteva, CEO and Co-Founder of ArteraAI.
SAN FRANCISCO, January 03, 2024
ArteraAI, the developer of multimodal artificial intelligence (MMAI) based predictive and prognostic cancer tests, announced today that the Centers for Medicare and Medicaid Services (CMS) have decided on the payment rate for the ArteraAI Prostate Test, a Clinical Diagnostic Laboratory Test (CDLT). The rate became effective on Jan. 1, 2024.
"This marks a noteworthy milestone in advancing personalized cancer care and underscores the pivotal role of AI in transforming cancer treatment," said Andre Esteva, CEO and Co-Founder of ArteraAI. "The ArteraAI Prostate Test is just one among several AI-enabled services that have secured payment rates, and as the industry navigates its evolving landscape, this decision serves as a promising indicator for both ArteraAI and the broader spectrum of medical AI companies."
This decision establishes a payment rate with Medicare for the first test that can both predict therapy benefit and prognosticate long-term outcomes in localized prostate cancer. The MMAI biomarker test leverages a unique algorithm that assesses digital images from a patient’s biopsy and learns from a patient's clinical data. The AI combines this information to predict whether a patient is likely to benefit from hormone therapy and estimate long-term outcomes.
About ArteraAI
ArteraAI is a leading precision medicine company developing AI tests to personalize cancer therapy. ArteraAI offers an AI-enabled test that is the first of its kind to provide both predictive and prognostic results for patients with localized prostate cancer: ArteraAI Prostate Test.
ArteraAI’s multimodal artificial intelligence (MMAI) biomarker test leverages a unique algorithm that assesses digital images from a patient’s biopsy and learns from a patient's clinical data. The AI combines this information to predict whether a patient will benefit from a particular therapy and determine their prognosis and has been validated in many Phase 3 randomized trials.
ArteraAI Prostate Test is the first test that can both predict therapy benefit and prognosticate long-term outcomes in localized prostate cancer. The test is clinically available through our CLIA-certified laboratory in Jacksonville, Florida and can be ordered online at Artera.ai.