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Interpace Diagnostics Issues Update Regarding Announced Contract with BCBS of Massachusetts

Interpace Diagnostics, a subsidiary of Interpace Biosciences (NASDAQ: IDXG) announced that it has entered into a contract with Blue Cross Blue Shield of Massachusetts. While terms of this Agreement are not disclosed, Interpace is an in-network lab with Blue Cr

Benzinga · 03/12/2020 09:18

Interpace Diagnostics, a subsidiary of Interpace Biosciences (NASDAQ: IDXG) announced that it has entered into a contract with Blue Cross Blue Shield of Massachusetts. While terms of this Agreement are not disclosed, Interpace is an in-network lab with Blue Cross Blue Shield of Massachusetts for all product lines.

Interpace continues to expand in-network agreements and medical coverage for its services with leading National and Regional health plans, while maintaining Medicare coverage through Novitas Solutions.

According to Jack Stover, CEO of Interpace, "This contract with Blue Cross Blue Shield of Massachusetts continues our trend of establishing improved reimbursement through participation as an in-network provider. I'm pleased to announce that this is the first contract secured by our new VP of Managed Care and Payer Relations, Jeff Salzman."

AboutThyroid Nodules, ThyGeNEXT® and ThyraMIR® Testing

According to theAmerican Thyroid Association, approximately 20% of the 525,000 thyroid fine needle aspirations (FNAs) performed on an annual basis in the U.S. are indeterminate for malignancy based on standard cytological evaluation, and thus are candidates for ThyGenX® and ThyraMIR®.

ThyGenX® and ThyraMIR® reflex testing yields high predictive value in determining the presence and absence of cancer in thyroid nodules. The combination of both tests can improve risk stratification and surgical decision-making when standard cytopathology does not provide a clear diagnosis for the presence of cancer.

ThyGenX® utilizes state-of-the-art next-generation sequencing (NGS) to identify more than 100 genetic alterations associated with papillary and follicular thyroid carcinomas, the two most common forms of thyroid cancer. ThyraMIR® is the first microRNA gene expression classifier. MicroRNAs are small, non-coding RNAs that bind to messenger RNA and regulate expression of genes involved in human cancers, including every subtype of thyroid cancer. ThyraMIR® measures the expression of 10 microRNAs. Both ThyGenX® and ThyraMIR® are covered by both Medicare and Commercial insurers.