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Biotech / Medical : MELA Sciences

MELA 1.12

Jan 4 3:00 PM EDT

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From: Savant	3/11/2015 10:30:23 AM
	of 103

Mela Sciences up big premarket on reimbursement codes for MelaFind system • 8:11 AM Douglas W. House, SA News Ed... Thinly-traded nano cap Mela Sciences (NASDAQ: MELA) is up 76% premarket on robust volume in response to its disclosure in a regulatory filing that the CPT Editorial Panel accepted the addition of two Category III reimbursement codes, 039XX1T and 039XX2T, to report multi-spectral digital skin lesion analysis of atypical cutaneous lesions, which applies to its MelaFind system. The establishment of the codes is the first step in securing Medicare reimbursement. Once the codes are identified, the Department of Health and Human Services sets the specific dollar amount for each one. All third party payments for medical procedures, public or private, key off this amount. Category III codes allow for data collection which is used to evaluate the procedure. MelaFind is a hand-held optical device that a dermatologist uses to scan a patient's skin in order to obtain additional information for a decision to biopsy in cases of suspected melanoma.

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