FoundationOne CDx secures nine-month CMS reimbursement

Foundation Medicine Inc. (NASDAQ:FMI) said CMS approved the status of FoundationOne CDx as a new Advanced Diagnostic Laboratory Test (ADLT).

During a nine-month period that begins July 1, the biotech will collect and assess private payer rates under the Protecting Access to Medicare Act of 2014. During this time, CMS will provide reimbursement for the test at $3,500...