Contract with Fortified Provider Network Covers 5 Million Lives
IRVINE, CA, and HERSTAL, BELGIUM - June 28, 2016 - MDxHealth SA (Euronext: MDXH.BR), announced today that it has secured reimbursement coverage agreement for its SelectMDx™ for Prostate Cancer test with Fortified Provider Network. This agreement serves all 50 states, offering patients greater access to MDxHealth’s liquid biopsy test.
Fortified Provider Network (FPN), is a direct-contracted preferred provider network with 5 million covered lives across the US. Under the agreement, SelectMDx for Prostate Cancer will be made available for members of Fortified's network, which includes self-funded employer groups, insurance carriers and regional and local provider networks that process end-user patient claims.
"This agreement with FPN will significantly expand coverage for SelectMDx to patients across the United States," said Dr. Jan Groen, Chief Executive Officer of MDxHealth. “This marks another milestone in our commercial strategy for this newly launched test and in our mission to provide the urology community validated and impactful molecular diagnostic solutions, which address unmet medical needs for cancer patients."
About Fortified Provider Network
Fortified Provider Network ("FPN") is a national direct-contracted preferred provider network. FPN's select provider network is utilized by self-funded employer groups, insurance carriers and regional and local provider networks that process end-user patient claims. FPN offers the utilization of its network to its more than 200 payor clients and members who, in turn, are able to capitalize on the discounted fee schedules FPN has negotiated with its healthcare providers. FPN contracts with physicians, hospitals, ancillary facilities, mid-level providers and other specialty healthcare providers who have the option of participating in one or more of our products (group health, workers compensation or auto liability).
About SelectMDx for Prostate Cancer
Of the nearly 2 million prostate biopsies performed each year, less than a third find cancer. Most of these men could have avoided a painful and invasive prostate biopsy procedure, with its associated complications and costs. SelectMDx for Prostate Cancer is a proprietary urine-based, molecular diagnostic test that offers a non-invasive 'liquid biopsy' method to assess a man's risk for prostate cancer. SelectMDx helps identify men at increased risk of harbouring aggressive, potentially lethal, prostate cancer who may benefit most from a prostate biopsy and earlier detection. The test delivers a negative predictive value (NPV) of 98% for clinically significant disease, helping to reduce unnecessary MRI procedures and invasive prostate biopsies by approximately 50%, thereby reducing healthcare costs.
About MDxHealth
MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The company's tests are based on proprietary gene methylation (epigenetic) and other molecular technologies and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. For more information, visit mdxhealth.com and follow us on Twitter at: twitter.com/mdxhealth.
IRVINE, CA, and HERSTAL, BELGIUM - June 28, 2016 - MDxHealth SA (Euronext: MDXH.BR), announced today that it has secured reimbursement coverage agreement for its SelectMDx™ for Prostate Cancer test with Fortified Provider Network. This agreement serves all 50 states, offering patients greater access to MDxHealth’s liquid biopsy test.
Fortified Provider Network (FPN), is a direct-contracted preferred provider network with 5 million covered lives across the US. Under the agreement, SelectMDx for Prostate Cancer will be made available for members of Fortified's network, which includes self-funded employer groups, insurance carriers and regional and local provider networks that process end-user patient claims.
"This agreement with FPN will significantly expand coverage for SelectMDx to patients across the United States," said Dr. Jan Groen, Chief Executive Officer of MDxHealth. “This marks another milestone in our commercial strategy for this newly launched test and in our mission to provide the urology community validated and impactful molecular diagnostic solutions, which address unmet medical needs for cancer patients."
About Fortified Provider Network
Fortified Provider Network ("FPN") is a national direct-contracted preferred provider network. FPN's select provider network is utilized by self-funded employer groups, insurance carriers and regional and local provider networks that process end-user patient claims. FPN offers the utilization of its network to its more than 200 payor clients and members who, in turn, are able to capitalize on the discounted fee schedules FPN has negotiated with its healthcare providers. FPN contracts with physicians, hospitals, ancillary facilities, mid-level providers and other specialty healthcare providers who have the option of participating in one or more of our products (group health, workers compensation or auto liability).
About SelectMDx for Prostate Cancer
Of the nearly 2 million prostate biopsies performed each year, less than a third find cancer. Most of these men could have avoided a painful and invasive prostate biopsy procedure, with its associated complications and costs. SelectMDx for Prostate Cancer is a proprietary urine-based, molecular diagnostic test that offers a non-invasive 'liquid biopsy' method to assess a man's risk for prostate cancer. SelectMDx helps identify men at increased risk of harbouring aggressive, potentially lethal, prostate cancer who may benefit most from a prostate biopsy and earlier detection. The test delivers a negative predictive value (NPV) of 98% for clinically significant disease, helping to reduce unnecessary MRI procedures and invasive prostate biopsies by approximately 50%, thereby reducing healthcare costs.
About MDxHealth
MDxHealth is a multinational healthcare company that provides actionable molecular diagnostic information to personalize the diagnosis and treatment of cancer. The company's tests are based on proprietary gene methylation (epigenetic) and other molecular technologies and assist physicians with the diagnosis of cancer, prognosis of recurrence risk, and prediction of response to a specific therapy. For more information, visit mdxhealth.com and follow us on Twitter at: twitter.com/mdxhealth.
