Viz.ai Receives New Technology Add-on Payment Renewal for Stroke AI Software from CMS
SAN FRANCISCO–(BUSINESS WIRE)–#AI—Viz.ai, the world leader in AI-driven intelligent care coordination, has received a New Technology Add-on Payment (NTAP) renewal from Centers for Medicare & Medicaid Services (CMS) for its AI-powered stroke triage module, Viz LVO (formerly known as Viz ContaCT). The reimbursement opportunity will continue to give more patients access to life-changing stroke technology, which has demonstrated significant improvements to patient outcomes through FY 2022. Viz LVO is eligible for reimbursement up to $1,040 per eligible patient.
NTAP was established by CMS to support the adoption of cutting-edge technologies that have demonstrated substantial clinical improvement by helping to cover their cost for Medicare patients. While other AI technology companies were evaluated, only Viz LVO was renewed for reimbursement through the demonstration of strong clinical outcomes. In order to achieve the NTAP, CMS ruled that Viz LVO demonstrated significant time savings, improved clinical outcomes, and increased access to care. This new ruling will extend the reimbursement timeframe for healthcare providers using Viz LVO, which is currently implemented in over 800 U.S. hospitals.
“We wanted to take every opportunity to benefit our patients through the use of Viz.ai. We have increased the number of patients we treat, reduced our door-to-treatment times, and started to see NTAP reimbursement from CMS just a month after we started billing,” said Wendy Elliott, assistant vice president, Marcus Neuroscience Institute at Baptist Health South Florida.
CMS first granted Viz LVO NTAP in September 2020 by issuing a groundbreaking ruling which uniquely granted Viz LVO the first ever NTAP for artificial intelligence software. Viz LVO is also the first FDA-cleared AI technology indicated to automatically detect and triage suspected large-vessel occlusions.
“I have seen the economic value of NTAP for Viz LVO at many of our partnering sites. I am proud to learn that Viz LVO was able to maintain this reimbursement, especially given the stringent guidelines that other AI companies were unable to meet,” said Jayme Strauss, chief clinical officer of Viz.ai and former executive director of neurosciences at Piedmont Healthcare. “The purpose of the Viz LVO NTAP is to give more patients access to the highest standard of care, which is directly in line with the mission of the company.”
The Viz.ai reimbursement team supports hospital billing departments through the Viz Care+ Program, a premium service focused on workflow and economic enhancement across health system customers.
About Viz.ai, Inc.
Viz.ai is the leader in AI-driven intelligent care coordination. Viz.ai’s mission is to fundamentally improve how healthcare is delivered in the world, through intelligent software that promises to reduce time to treatment, improve access to care, and increase the speed of diffusion of medical innovation. Viz.ai’s flagship product, Viz LVO, leverages advanced deep learning to communicate time-sensitive information about stroke patients straight to a specialist who can intervene and treat.
In February 2018, the U.S. Food and Drug Administration (FDA) granted a De Novo clearance for Viz LVO, the first-ever computer-aided triage and notification software. Viz.ai announced its second FDA clearance for Viz CTP through the 510(k) pathway, offering healthcare providers an important tool for automated cerebral perfusion image analysis. A third FDA clearance was granted in 2020 for Viz ICH, which uses AI to automatically detect suspected intracranial hemorrhage on CT imaging.
Viz.ai is located in San Francisco and Tel Aviv and backed by leading Silicon Valley investors, including Kleiner Perkins, Google Ventures, Greenoaks, CRV, Threshold Ventures, Innovation Endeavors, Susa Ventures, Scale Venture Partners and Insight Partners.
Pazanga Health Communications