IRVINE, Calif., and HERSTAL, Belgium, Sept. 27, 2016 (GLOBE NEWSWIRE) -- MDxHealth SA (Euronext: MDXH.BR) announced that Independence Blue Cross (Independence) has issued a positive medical coverage policy decision for the ConfirmMDx® for Prostate Cancer test.
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With its affiliates, Independence serves nearly 8.5 million people in 32 states and the District of Columbia, including more than 2.5 million in the region.
Independence is one of the 38 independent companies that form the Blue Cross and Blue Shield Association (BCBSA) that collectively cover more than 98 million people or 1 in 3 Americans. This positive policy decision for their commercial and Medicare lives represents the first BCBSA plan to establish coverage for ConfirmMDx for Prostate Cancer.
"This positive coverage decision by Independence Blue Cross is a significant milestone as we work towards achieving nationwide payer adoption of our ConfirmMDx for Prostate Cancer test," stated Dr. Jan Groen, CEO of MDxHealth. "This decision demonstrates that our investment in clinical studies and our work with managed care organisations in the US continues to yield positive results."
ConfirmMDx for Prostate Cancer is the first epigenetic, and only tissue-based test in the 2016 NCCN Guidelines for early detection of prostate cancer which addresses false negative biopsy concerns. It is the only molecular diagnostic test that provides a very high negative predictive value (NPV) of 96% for clinically significant prostate cancers, and 90% NPV for all prostate cancers, as well as prostate mapping of the test results to help guide repeat biopsies. Each year, more than 1 million American men undergo an invasive prostate biopsy with a negative result, however approximately 30% of those men actually have prostate cancer. The current standard of care for prostate biopsy procedures samples less than 1% of the prostate, leaving men at risk for undetected cancer and leading to a high rate of repeat biopsies, even on cancer-free men. ConfirmMDx for Prostate Cancer helps urologists identify low-risk men who may forego an unnecessary repeat biopsy and high-risk men who may benefit from intervention. To date more than 3,000 urologists have ordered ConfirmMDx on more than 45,000 patients. ConfirmMDx has qualified for Medicare reimbursement and covered by numerous private health insurance plans.
MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The company's tests are based on proprietary gene methylation (epigenetic) and other molecular technologies and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. For more information, visit mdxhealth.com and follow us on Twitter at: twitter.com/mdxhealth.
For more information:
Dr. Jan Groen, CEO
US: +1 949 812 6979
BE: +32 4 364 20 70
Jonathan Birt, Chris Welsh, Hendrik Thys (PR & IR)
Consilium Strategic Communications
UK: +44 20 3709 5701
US: + 1 917 322 2571 (Rx Communications Group LLC)
This press release contains forward-looking statements and estimates with respect to the anticipated future performance of MDxHealth and the market in which it operates. Such statements and estimates are based on assumptions and assessments of known and unknown risks, uncertainties and other factors, which were deemed reasonable but may not prove to be correct. Actual events are difficult to predict, may depend upon factors that are beyond the company's control, and may turn out to be materially different. MDxHealth expressly disclaims any obligation to update any such forward-looking statements in this release to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based unless required by law or regulation. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of MDxHealth in any jurisdiction. No securities of MDxHealth may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. securities laws.
NOTE: The MDxHealth logo, MDxHealth, ConfirmMDx, SelectMDx , AssureMDx and PredictMDx are trademarks or registered trademarks of MDxHealth SA. All other trademarks and service marks are the property of their respective owners.
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Last updated on: 28/09/2016
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