Belgium-based brain imaging AI company icometrix announced it received a CPT III code from the American Medical Association enabling reimbursement of its FDA-cleared brain MRI quantification software.
icometrix AI-supported quantitative brain analysis software provides metrics for cerebral MRI scans to help clinicians diagnose, monitor and evaluate treatment responses in patients with neurological conditions, such as Alzheimer’s disease and dementia, multiple sclerosis, epilepsy, stroke and Parkinson’s disease.
The CPT code will allow qualified healthcare professionals to report their use of icometrix brain imaging AI software as a practice expense.
THE LARGER TREND
icometrix received $18 million in funding in 2019 to grow its brain software. The Belgium company garnered FDA clearance for its icobrain-ctp offering in February 2020.
Last month, the company announced it was awarded a grant from the Michael J. Fox Foundation to research brain MRI biomarkers for Parkinson’s disease in collaboration with a neurology and neurological sciences professor at Stanford Medicine.
In March, icometrix received a £1,417,658 ($1,798,944) grant from the National Institute for Health and Care Research to accelerate research in the imaging of multiple sclerosis.
Another company using AI software to help providers diagnose brain disorders is South Korean health tech company Neurophet. In April, it obtained certification from Singapore’s Health Sciences Authority for its AI-enabled degenerative brain disease diagnosis assistant software.
