REDWOOD CITY, Calif.,
Oct. 15, 2015 /PRNewswire/
-- Genomic Health, Inc. (Nasdaq: GHDX) today announced that
Palmetto GBA, a Medicare Administrative Contractor (MAC) that
assesses molecular diagnostic technologies, has initiated
reimbursement coverage of the Oncotype DX® prostate cancer test for
qualified Medicare patients throughout the United States
effective immediately.
"Now, each year, up to an estimated 60,000 eligible Medicare
prostate cancer patients and their physicians have access to the
unique biological information revealed by the Oncotype DX Genomic
Prostate Score in order to optimize treatment decisions," said Kim
Popovits, chairman of the board, chief executive officer and
president of Genomic Health. "This decision marks an
important milestone in our efforts to bring precision medicine to
more patients and represents a significant growth opportunity for
Genomic Health."
More than 220,000 men are diagnosed with prostate cancer each
year in the United States
alone. The Medicare coverage decision extends reimbursement
for Oncotype DX testing to prostate cancer patients defined as low-
and very low-risk by the National Comprehensive Cancer Network
(NCCN), who are eligible based on specific Medicare criteria
including clinical and pathological factors such as
prostate-specific antigen (PSA) and Gleason score.
"With 14 studies that have included more than 2,000 patients,
our test has been specifically developed and validated to assess
the aggressiveness of prostate cancer and predict both near-
and long-term outcomes to enable more precise patient risk
stratification and better informed treatment decisions," said
Phil Febbo, M.D., chief medical
officer, Genomic Health.
About Oncotype DX®
The Oncotype DX® portfolio
of breast, colon and prostate cancer tests applies advanced genomic
science to reveal the unique biology of a tumor in order to
optimize cancer treatment decisions. The Oncotype DX prostate
cancer test identifies which clinically low-risk patients are
eligible for active surveillance, as well as those who may benefit
from immediate treatment by predicting disease aggressiveness. With
half a million patients tested in more than 90 countries, Oncotype
DX testing has redefined personalized medicine by making genomics a
critical part of cancer diagnosis and treatment. To learn more
about the Oncotype DX prostate cancer test, visit
www.OncotypeDX.com or www.myprostatecancertreatment.org.
About Genomic Health
Genomic Health, Inc. (NASDAQ:
GHDX) is the world's leading provider of genomic-based diagnostic
tests that address both the overtreatment and optimal treatment of
early-stage cancer, one of the greatest issues in healthcare today.
The company is applying its world-class scientific and commercial
expertise and infrastructure to lead the translation of massive
amounts of genomic data into clinically-actionable results for
treatment planning throughout the cancer patient's journey, from
diagnosis to treatment selection and monitoring. The company
is based in Redwood City, California, with
international headquarters in Geneva, Switzerland. For
more information, please visit, www.GenomicHealth.com and
follow the company on
Twitter: @GenomicHealth, Facebook, YouTube and LinkedIn.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the company's belief that
the LCD is an important step toward ensuring that all prostate
cancer patients covered by Medicare have access to the test; and
the benefits of the test to physicians, patients and payors.
Forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially, and reported
results should not be considered as an indication of future
performance. These risks and uncertainties include, but are not
limited to: the issuance by Palmetto of an LCD and the scope of any
such LCD; the ability of test results to change treatment decisions
in the clinical setting; the risks and uncertainties associated
with the regulation of the company's tests; the results of clinical
studies; the applicability of clinical study results to actual
outcomes; the risk that the company may not obtain or maintain
sufficient levels of reimbursement, domestically or abroad, for its
existing tests and any future tests it may develop; the risks of
competition; unanticipated costs or delays in research and
development efforts; and the other risks set forth in the company's
filings with the Securities and Exchange Commission, including
the risks set forth in the company's quarterly report on Form 10-Q
for the year ended June 30, 2015. These forward-looking
statements speak only as of the date hereof. Genomic
Health disclaims any obligation to update these
forward-looking statements.
NOTE: The Genomic Health logo, Oncotype, Oncotype
DX, Recurrence Score, and DCIS Score are trademarks or registered
trademarks of Genomic Health, Inc. All other trademarks
and service marks are the property of their respective
owners.
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SOURCE Genomic Health, Inc.