Lucid Diagnostics Sets Q4 Record as VA Contract Validates Pricing and Eyes Medicare Policy

Overview

• Lucid reported fourth‑quarter test volume of 3,664 and $1.5 million in revenue, with billable value above $9 million.
• The company secured a Veterans Affairs Federal Supply Schedule contract that aligns price to its Medicare rate and enables ordering across VA facilities.
• Management said a draft Medicare Local Coverage Determination, a policy that sets when a test is covered, is expected soon and would trigger a 45‑day comment period with possible 12 months of retroactive payment.
• Lucid highlighted a path to coverage at UnitedHealthcare based on endoscopy guidelines and said the first policy from a Laboratory Benefit Manager, which sets lab coverage for some plans, could arrive within months.
• The company ended the year with $34.7 million in cash and an estimated $11.1 million quarterly burn, is collecting only about 20% of billable claims today, and plans to hold spending until coverage is final.