Viz.ai Granted Medicare New Technology Add-on Payment
SAN FRANCISCO, Sept. 3, 2020 /PRNewswire/ — In a groundbreaking ruling, CMS has granted Viz.ai the first New Technology Add-on Payment (NTAP) for artificial intelligence software. NTAP, part of the CMS Inpatient Prospective Payment System (IPPS), was set up to support the adoption of cutting-edge technologies that have demonstrated substantial clinical improvement and ensure early availability to Medicare patients. In the US, stroke is the number one cause of long term disability, but is a treatable condition if identified early enough.
Viz.ai has been recognized by Forbes, Fast Company, and AuntMinnie as one of the leading AI healthcare companies in the US. The company provides software that improves clinical and financial outcomes1,2 by streamlining acute care, leading to shorter time to treatment, improved patient outcomes, reduced length of stay, and increased number of procedures.
“Since using Viz at our center, we have seen a decrease in time to treatment and an improvement in patient outcomes. This software should be considered now the gold standard for all systems treating stroke,” Dr. Adam Arthur, Professor of Neurosurgery University of Tennessee Health Sciences Center and Semmes-Murphey Clinic.
CMS has selected Viz.ai’s stroke software, Viz LVO, formally known as Viz ContaCT, as the first AI software to receive a Medicare New Technology Add-on Payment. Viz.ai demonstrated to CMS a significant reduction in time to treatment and improved clinical outcomes in patients suffering a stroke. Viz LVO has been granted a New Technology Add on Payment of up to $1,040 per use in patients with suspected strokes.
“Viz is the first software that meets CMS’s strict substantial clinical improvement criteria,” said Jayme Strauss, Executive Director of Neuroscience Piedmont Healthcare. “The extra reimbursement will empower hospitals as they strive to improve outcomes for stroke patients especially during a pandemic where hospitals have the additional cost burdens associated with COVID. The Viz.ai platform provides the clinical improvement needed to improve a stroke program significantly and, with NTAP, hospitals can offer it without significant financial burden.”
About Viz.ai, Inc.
Viz.ai, is the leader in applied artificial intelligence in healthcare. 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.
Viz.ai is located in San Francisco and Tel Aviv and backed by leading Silicon Valley investors, including Kleiner Perkins, Google Ventures, Greenoaks, CRV, and Threshold.
1. Hassan et al. (2020) 2. Morey et al. (2020)
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SOURCE Viz.ai
