Navigation Links
CMS Decision - No Material Financial Impact to Medicsight
Date:6/5/2009

NEW YORK, June 5 /PRNewswire-FirstCall/ -- Medicsight PLC, a subsidiary of MGT Capital Investments, Inc. (NYSE Amex: MGT) and an industry leader in the development of Computer-Aided Detection (CAD) and image analysis software, which assists radiologists in the early detection of disease, comments on the Centers for Medicare and Medicaid Services' (CMS) decision not to reimburse virtual colonoscopy (CT colonography or CTC) for the routine colon cancer screening of Medicare patients in the U.S.

The CMS decision has no material financial impact to Medicsight and only affects 12% of the eligible screening population in the United States. CTC continues to be reimbursed by Medicare for diagnostic procedures under certain conditions. Furthermore, a significant number (over 50 million) of the eligible screening population will have private insurance coverage that is likely to provide for CTC screening. Despite Medicare's decision, 28 US States (and growing) currently mandate coverage for colorectal cancer screening, most adopting the American Cancer Society (ACS) standards which include use of CTC.

A number of private payers have already started to offer CTC as a "covered benefit" in their insurance policies and those payers, including Wellpoint/Anthem, Cigna and several Blue Cross Blue Shield plans, representing approximately 50 million covered patients. There are projected to be 65 million U.S. residents aged between 50-64 by 2015. Currently 80% of this age group currently has private insurance coverage according to Kaiser Permanente, a leading US health insurance provider.

Allan Rowley, Chief Executive Officer of Medicsight, commented: "The Company is excited about the enormous potential to improve colorectal screening compliance with the use of screening CTC and has already begun working with various groups to support coverage among non-Medicare payers."

Perry J. Pickhardt, MD., Associate Professor of Radiology at University of Wisconsin, suggested: "To deny coverage for Medicare beneficiaries of a potentially life-saving test that is better, safer, more convenient and less costly than invasive colonoscopy is clearly a misguided decision that should ultimately be reversed by legislative correction."

Following the CMS decision, Congresswoman Kay Granger (R-Texas), commented, "There is clear evidence that when insurance reimbursement is available for virtual colonoscopies, more people are screened for colorectal cancer. Less than half of those who should be screened receive a colonoscopy. We need to make sure more Americans are screened for this deadly yet preventable disease." (1)

(1) WASHINGTON, D.C., May 12 2009 kaygranger.house.gov

About MGT Capital Investments, Inc.

MGT Capital Investments, Inc. is a technology holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight PLC and Medicexchange Ltd.

Medicsight PLC (AIM: MDST) is a UK-headquartered, research driven, leading developer of computer-aided detection (CAD) and image analysis software for the medical imaging market. The CAD software automatically highlights suspicious areas on computerized tomography (CT) scans of the colon and lung, helping radiologists to identify, measure and analyze potential disease and early indicators of disease. Medicsight's CAD software has been validated using one of the world's largest and most population diverse databases of verified patient CT scan data. Medicsight's ColonCAD(TM) and LungCAD(TM) software products are seamlessly integrated with the advanced 3D visualization workstations of several industry-leading imaging equipment partners.

Medicexchange Ltd. provides medical imaging professionals with a global web portal containing an online sales, jobs and information channel for diagnostic, treatment and surgery planning solutions. This combined with a variety of relevant clinical papers, training materials and content gives these professionals access to information and products that they otherwise would have difficulty accessing.

Additional information can be found at www.mgtci.com.

All forward-looking statements are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in company filings with the Securities and Exchange Commission.

Investor & Media enquiries:

    KCSA Strategic Communications
    Todd Fromer / Garth Russell
    Tel: +1 212-896-1215 / 212-896-1250

'/>"/>
SOURCE MGT Capital Investments, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. DATATRAK Announces Receipt of NASDAQ Panel Decision to Delist Common Shares
2. MEDRAD Introduces Manage.Report - Advances Evidence-Based Decision Making
3. Religious devotion does not impact abortion decisions of young unwed women
4. Carefx's Newest White Paper Illuminates Healthcare CIOs' Growing Role in Operations, Strategic Thinking and IT Project Decision Making
5. Nurse Response Partners With Healthwise to Help Consumers Make Informed Decisions on Health
6. Carefxs Newest White Paper Illuminates Healthcare CIOs Growing Role in Operations, Strategic Thinking and IT Project Decision Making
7. Elsevier Appoints Chris Dillon as Managing Director, Clinical Decision Support
8. LCA Hails US Court of Appeals Decision to Affirm Lower Court Ruling Tobacco Companies Guilty of Massive Fraud and Deception
9. Aflac Incorporated to Present at the Sanford Bernstein 25th Annual Strategic Decisions Conference
10. Medco CEO to Present at the Sanford C. Bernstein & Co. LLC 25th Annual Strategic Decision Conference 2009
11. Parents Influence Sex Decisions, Hispanic Teens Say
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... Beach, CA (PRWEB) , ... June 25, 2016 , ... ... UCLA with Magna Cum Laude and his M.D from the David Geffen School of ... Diego and returned to Los Angeles to complete his fellowship in hematology/oncology at the ...
(Date:6/25/2016)... ... June 25, 2016 , ... On Friday, June 10, ... Bronze Wellness at Work award to iHire in recognition of their exemplary accomplishments in ... the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott in ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June 14 ... The article goes on to state that individuals are now more comfortable seeking to ... operations such as calf and cheek reduction. The Los Angeles area medical group, Beverly ...
(Date:6/24/2016)... ... , ... June 19, 2016 is World Sickle Cell Observance Day. In an ... of holistic treatments, Serenity Recovery Center of Marne, Michigan, has issued a ... Cell Disease (SCD) is a disorder of the red blood cells, which can cause ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... Scientific Sessions in Dallas that it will receive two significant new grants to ... came as PHA marked its 25th anniversary by recognizing patients, medical professionals and ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... CAMBRIDGE, Mass. , June 24, 2016 /PRNewswire/ ... the Spaulding Rehabilitation Network,s Dean Center for ... of Physical Medicine and Rehabilitation, MIT Hacking Medicine, ... Center for Innovation, today announced the five finalists ... Hackathon for Lyme disease.  More than 100 scientists, ...
(Date:6/24/2016)... DUBLIN , June 24, 2016 ... addition of the "Structural Electronics 2015-2025: Applications, ... In-Mold Electronics, Smart ... Integrated Photovoltaics Structural electronics involves ... as load-bearing, protective structures, replacing dumb structures such ...
(Date:6/24/2016)... Dehaier Medical Systems Ltd. (NASDAQ: ... and sells medical devices and wearable sleep respiratory products ... cooperation agreement with Hongyuan Supply Chain Management Co., Ltd. ... 20, 2016, to develop Dehaier,s new Internet medical technology ... will leverage Hongyuan Supply Chain,s sales platform to reach ...
Breaking Medicine Technology: