REDWOOD CITY, Calif.,
Nov. 18, 2015 /PRNewswire/
-- On Tuesday, November 17, 2015, the Centers for
Medicare and Medicaid Services (CMS), which administers
the Medicare program, issued its final Clinical
Laboratory Fee Schedule (CLFS) for 2016, which will allow the
Medicare Administrative Contractor (MAC) to continue to set payment
for the Oncotype DX® colon cancer test through 2016, as
has been done since initiation of coverage in 2011.
"We are pleased that the final 2016 CLFS reflects CMS's
precedent over the past several years to delegate rate-setting for
these complex tests to the MACs," said Kim Popovits, chairman
of the board, chief executive officer and president of Genomic
Health. "The MAC-established rates for Genomic
Health's Oncotype DX tests are consistent with the
market-based rate-setting policies and procedures enacted
by Congress under the Protecting Access to Medicare Act
(PAMA), which are currently scheduled to go into effect in
2017."
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. With
over half a million patients tested in more than 90 countries, the
Oncotype DX tests have redefined personalized medicine by making
genomics a critical part of cancer diagnosis and treatment. To
learn more about Oncotype DX tests,
visit: www.OncotypeDX.com, www.mybreastcancertreatment.org and
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 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 company's
ability to successfully maintain reimbursement levels, the ability
of test results to change treatment decisions; the risks and
uncertainties associated with the regulation of the company's
tests; 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; 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 September 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.