Bio-Techne's Exosome Diagnostics Laboratory Announces Reimbursement Contract With Humana
MINNEAPOLIS, March 1, 2021 /PRNewswire/ -- Bio-Techne Corporation (NASDAQ:TECH) today announced that Humana has awarded a contract effective April 1, 2021 to its Exosome Diagnostics laboratory, covering the ExoDx™ Prostate (EPI) test for men. Humana is the nation's largest Medicare Advantage provider serving an estimated 20 million patients in the United States.
The EPI test is a urine-based, genomic test that helps inform the prostate biopsy decision. This liquid biomarker test is covered by Medicare, as well as several commercial plans. In 2020, the EPI test received a 10-year unlimited General Services Administration (GSA) award and is included in the National Comprehensive Cancer Network (NCCN) Guidelines for Early Detection of Prostate Cancer in men for both initial and repeat biopsy. It is performed by Exosome Diagnostics, a Bio-Techne brand, in its CLIA, ISO, NY certified and CAP-accredited laboratory located in Waltham, Massachusetts. The EPI test is a risk assessment tool that enables physicians and their patients to determine if a prostate biopsy is needed when presented with an ambiguous PSA test result, thereby reducing complications from unnecessary and invasive procedures.
According to Dr. Judd Moul, James H. Semans MD Professor of Surgery at Duke University Medical Center in the Urologic Surgery Division and the Duke Cancer Institute, "Determining which patients need prostate biopsy continues to be a challenge for urologists and patients. We need better tools to assess prostate cancer risk, like the ExoDx Prostate test, which can assist in the physician-patient shared decision for prostate biopsy". He continued, "Many patients have benefited from the use of this non-invasive urine test, now available as an At-Home Collection Kit, to enhance the prostate biopsy decision-making with more confidence. It is exciting to see more payors understand the clinical and economic utility of advanced diagnostics tools in the clinical setting".
"We are very pleased that Humana has joined a growing list of payors and will now be reimbursing for the ExoDx Prostate Test," commented Chuck Kummeth, President and Chief Executive Officer of Bio-Techne. "This coverage decision will expand access to this test, enabling additional men to make more informed decisions on whether to defer or proceed with a prostate biopsy. The benefits of this test are increasingly resonating with both patients and payors and we look forward to continuing to scale this game-changing technology."
About Bio-Techne Corporation (NASDAQ: TECH)
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Company Codes: NASDAQ-NMS:TECH