NASHUA, N.H., April 25 /PRNewswire-FirstCall/ -- iCAD(R), Inc. , an industry-leading provider of Computer-Aided Detection (CAD) solutions for the early identification of cancer, today reported that major health care insurance company, Aetna, Inc. has updated its internal clinical policies to provide for reimbursement of CAD mammography services and procedures.
Recognizing clinical evidence for the effectiveness of CAD in conjunction with mammography screening, Aetna announced in its Mammography Clinical Policy Bulletin on April 1, 2005 that "Aetna considers Computer-Aided Detection (CAD) a medically necessary adjunct to mammography." Aetna had previously declined to reimburse for CAD breast cancer procedures. With Aetna's decision, all major healthcare insurance providers now reimburse such procedures.
Aetna's policy announcement reinforces a decision by Cigna, Inc., which concluded, without reliance on clinical performance of CAD, that "the standard of care appears to have shifted towards routine use of these procedures [CAD] in large radiology practices."
"Aetna and Cigna's policy statements mark significant milestones in the fight against cancer," said Scott Parr, President and CEO for iCAD, Inc. "By updating benefit plans to better acknowledge CAD, patients nationwide are now able to more readily take advantage of our cutting-edge solutions for the early detection of cancer."
"According to our empirical data, trends analysis and evidence-based clinical policy guidelines, the majority of today's clinical guidelines acknowledge CAD as a standard of care," stated Arthur Gelber, CEO, of HealthCare IQ. "As such, HealthCare IQ is happy to report that we are unaware of any major carrier denying CAD as a payable service. It is important to recognize that by defining CAD as 'a medically necessary adjunct to mammography' and 'standard of care,' these policy bulletins contribute to the emergence of CAD as a required step in good medical practice, the absence of which could expose the practitioner to increased liability for oversight of cancers detectable using CAD."
HealthCare IQ's clinical guidelines and insurance industry clinical policies databases currently represent more than 48 million insured lives.
About iCAD, Inc.
iCAD, Inc. is an industry-leading provider of Computer-Aided Detection (CAD) solutions that enable healthcare professionals to identify cancer and other life-threatening conditions earlier by making medical services more effective, more accessible and more affordable for patients worldwide. Recipient of Frost & Sullivan's Growth Strategy Leadership award and repeatedly recognized as offering "The Winning Combination" of Price and Performance by MD Buyline, iCAD offers a comprehensive range of high- performance, upgradeable CAD systems for the high, mid and low volume mammography markets. As the most frequently selected CAD solution for film- based and digital breast screening, iCAD is entrusted with the task of early cancer detection by almost one thousand women's healthcare centers worldwide. For more information, call +1 866 iCADnow or visit http://www.icadmed.com/.
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Certain statements contained in this News Release constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence, increased competition, customer concentration and other risks detailed in the Company's other filings with the Securities and Exchange Commission. The words "believe," "demonstrate," "intend," "expect," "estimate," "anticipate," "likely," and similar expressions identify forward- looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release.
For more information on iCAD, Inc., contact Kevin McGrath of Cameron Associates at +1 212 245 4577 or via email at kevin@cameronassoc.com.
iCAD(R), Inc.CONTACT: Kevin McGrath of Cameron Associates, +1-212-245-4577,kevin@cameronassoc.com
Web site: http://www.icadmed.com/