SelectMDx Study Demonstrates Cost-effectiveness in US Healthcare System
Data published in Journal of Urology reports over $500 million in potential annual cost savings for the US healthcare system
IRVINE, CA, and HERSTAL, BELGIUM – 07:00 CEST, July 31, 2018 - MDxHealth SA (Euronext: MDXH.BR) today announces that a study validating the cost-effectiveness of SelectMDx® for Prostate Cancer, its non-invasive 'liquid biopsy' test that helps identify patients at increased risk of aggressive prostate cancer, has been published in The Journal of Urology.
Dr. Matthew Resnick from the departments of Urologic Surgery and Health Policy at Vanderbilt University Medical Center, Nashville, TN stated: “This study demonstrates that routine use of SelectMDx to guide biopsy decision-making improves health outcomes and lowers healthcare costs associated with prostate cancer risk assessment in a population of U.S. men. We believe that this strategy improves the value of conventional risk assessment strategies through improvements in both quality and cost, the numerator and denominator of the health care value equation.”
The study, designed to elucidate the cost-effectiveness of SelectMDx in a population of U.S. men with elevated PSA, modelled the impact of utilizing the non-invasive diagnostic test prior to ultrasound-guided prostate biopsy. The primary objective was to characterize changes in health outcomes, measured in quality-adjusted life years, and a secondary objective was evaluating healthcare costs from the Medicare payer perspective.
The study illustrated that incorporating SelectMDx resulted in an average gain of 0.045 life years in full health gained at a cost-savings of $1,694 for each patient undergoing biopsy. Extrapolating these data to a conservative estimate of 311,879 patients per year undergoing biopsy resulted in 14,035 life years in full health gained with an annual cost saving of more than $500 million for each cohort.
“These compelling study results further validate the positive impact of SelectMDx to reduce healthcare system costs, by helping to guide treatment decisions prior to prostate biopsy,” stated Dr. Jan Groen, Chief Executive Officer of MDxHealth. “These data demonstrated the health and economic value of utilizing SelectMDx early in the treatment process will support our negotiations with US health insurance companies.”
Dr. Groen continued: “This is a major milestone for our SelectMDx product, reinforcing our strategy to pursue the primary care market. We believe this expansion could quadruple the SelectMDx market opportunity, in the US and Europe, to more than two million patients annually.”
The full paper is accessible via the online edition of the Journal of Urology.
SelectMDx for Prostate Cancer is a proprietary urine based, molecular diagnostic test that offers a non-invasive 'liquid biopsy' method to assess a man's risk for prostate cancer. SelectMDx helps identify men at increased risk of harboring aggressive, potentially lethal, prostate cancer who may benefit most from a prostate biopsy and earlier detection. The test helps to reduce the need for MRI procedures and invasive prostate biopsies by up to 50%, thereby improving quality of life and lowering healthcare costs
per patient. SelectMDx is available in the US and all EU member states. Since the introduction of the SelectMDx test in mid-2016, over 23,000 patients have been tested and 15 commercial contracts have been signed with US based insurance companies. The test has been included in the 2018 European Association of Urology (EAU) clinical guidelines.
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 genetic, epigenetic (methylation) and other molecular technologies and assist physicians with the diagnosis of urologic cancers, prognosis of recurrence risk, and prediction of response to a specific therapy. The Company’s European headquarters are in Herstal, Belgium, with laboratory operations in Nijmegen, The Netherlands, and US headquarters and laboratory operations based in Irvine, California. For more information, visit mdxhealth.com and follow us on social media at: twitter.com/mdxhealth, facebook.com/mdxhealth and linkedin.com/company/mdxhealth.
For more information:
Dr. Jan Groen, CEO
US: +1 949 812 6979
BE: +32 4 257 70 21
LifeSpring LifeSciences Communication,
NL: +31 6 538 16 427
Consilium Strategic Communications
Amber Fennell, Chris Welsh & Hendrik Thys
UK: +44 20 3709 5701