CombiMatrix Notes Two Additional Blue Cross Blue Shield Health Plans Revise Medical Policies to Reimburse for Recurrent Pregn...
April 28 2016 - 11:46AM
CombiMatrix Corporation (NASDAQ:CBMX), a molecular diagnostics
company specializing in DNA-based testing services for
pre-implantation genetic diagnostics and screening, miscarriage
analysis, prenatal and pediatric diagnostics, notes that Blue Cross
Blue Shield of Arkansas and Blue Cross Blue Shield of Tennessee
have revised their medical policies to include reimbursement for
chromosomal microarray analysis of fetal tissue for the evaluation
of recurrent pregnancy loss. These health plans now cover
cases of pregnancy loss at 20 weeks of gestation or earlier; or
when there is a maternal history of recurrent miscarriage (defined
as a history of two or more failed pregnancies).
“We are beginning to see a trend with at least
seven health providers this year revising their medical policies to
now reimburse for microarray testing for recurrent pregnancy loss,
after only one reversal in all of 2015,” stated Mark McDonough,
President and Chief Executive Officer of CombiMatrix. “We
expect more health plans to revise their policies going forward and
that these decisions will have a positive impact on our miscarriage
analysis testing, which is the fastest growing and best reimbursed
component of our business. Revisions of plans in the Blue
Cross Blue Shield network, which in aggregate comprise a large
component of our third-party billing, are particularly noteworthy
for CombiMatrix. Importantly, miscarriage analysis testing
can provide valuable information to women and their families in
planning and decision-making.”
About CombiMatrix
Corporation
CombiMatrix Corporation provides valuable
molecular diagnostic solutions and comprehensive clinical support
to foster the highest quality in patient
care. CombiMatrix specializes in pre-implantation genetic
diagnostics and screening, miscarriage analysis, prenatal and
pediatric diagnostics, offering DNA-based testing for the detection
of genetic abnormalities beyond what can be identified through
traditional methodologies. CombiMatrix performs genetic testing
utilizing a variety of advanced cytogenomic techniques, including
chromosomal microarray, standardized and customized
fluorescence in situ hybridization (FISH) and high-resolution
karyotyping. CombiMatrix is dedicated to providing high-level
clinical support for healthcare professionals in order to help them
incorporate the results of complex genetic testing into
patient-centered medical decision making. Additional information
about CombiMatrix is available at www.combimatrix.com or by calling
(800) 710-0624.
Safe Harbor Statement under the Private
Securities Litigation Reform Act of 1995
This press release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
statements are based upon our current expectations, speak only as
of the date hereof and are subject to change. All statements, other
than statements of historical fact included in this press release,
are forward-looking statements. Forward-looking statements can
often be identified by words such as "anticipates," "expects,"
"intends," "plans," "goal," "predicts," "believes," "seeks,"
"estimates," "may," "will," "should," "would," "could,"
"potential," “possible,” “aimed,” "continue," "ongoing," similar
expressions, and variations or negatives of these words and
include, but are not limited to, projected results of operations
and management's future business, operational and strategic plans,
recruiting efforts and test menu expansion. These forward-looking
statements are not guarantees of future results and are subject to
risks, uncertainties and assumptions that could cause our actual
results to differ materially and adversely from those expressed in
any forward-looking statement. The risks and uncertainties referred
to above include, but are not limited to: whether additional health
plans will make similar policy changes to the tests they reimburse;
whether such reversals will have a material impact on our revenues
or results from operations, market acceptance of our CombiPGD test;
our ability to successfully expand the base of our customers and
strategic partners, add to the menu of our diagnostic tests,
develop and introduce new tests and related reports, expand and
improve our current suite of services, optimize the reimbursements
received for our microarray testing services, and increase
operating margins by improving overall productivity and expanding
sales volumes; our ability to successfully accelerate sales,
steadily increase the size of our customer rosters in IVF,
miscarriage analysis, prenatal and pediatric genetic testing
markets; our ability to attract and retain a qualified sales
force in wider geographies; our ability to ramp production from our
sales force and our strategic partners; rapid technological change
in our markets; changes in demand for our future services;
legislative, regulatory and competitive developments; the outcome
of pending litigation; general economic conditions; and various
other factors. Further information on potential factors that could
affect our financial results is included in our Annual Report on
Form 10-K, Quarterly Reports of Form 10-Q, and in other filings
with the Securities and Exchange Commission. We undertake no
obligation to revise or update publicly any forward-looking
statements for any reason, except as required by law.
Company Contact: |
Investor Relations Contact: |
Mark McDonough |
LHA |
President & CEO,
CombiMatrix Corporation
|
Jody Cain |
(949)
753-0624 |
(310) 691-7100 |
|
jcain@lhai.com |
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