RUTHERFORD, N.J., Nov. 09, 2015 (GLOBE NEWSWIRE) -- Cancer Genetics, Inc. (Nasdaq:CGIX) ("CGI" or "The Company"), an emerging leader in DNA-based cancer diagnostics, announced that it has entered into in-network provider agreements with Blue Cross Blue Shield of North Carolina (“BCBSNC”), Blue Cross Blue Shield Nebraska, and WellMark, Inc., which is comprised of the Blue Cross Blue Shield networks in Iowa and North Dakota. Each of these healthcare networks have served their respective communities for over seventy-five years and cover a combined customer base of over 6.7 million individuals. The agreement with CGI will allow members of these networks access to CGI’s cancer diagnostic services.
Blue Cross Blue Shield of North Carolina was founded in 1933 as the Hospital Care Association of Durham by local business man George Watts Hill and Dr. W.C. Davison, Dean of Duke University School of Medicine. Today, BCBS of North Carolina serves over 3.9 million customers and strives to deliver on its mission to improve the health and well being of its customers and communities.
With a focus on its mission to provide health and wellness solutions people value most, today Blue Cross Blue Shield of Nebraska serves over 700,000 people. The company is committed to providing quality service and stays true to its core values of customer focus, collaboration, respect, innovation, trust and respect.
Headquartered in Des Moines, Iowa, Wellmark, Inc., has provided access to quality, affordable healthcare since 1939 to members at every stage of their lives. The Wellmark network covers 1.8 million Iowans and 300,000 South Dakotans. Wellmark partnered with over 2,000 primary care physicians and developed a network of innovative wellness programs for its members as part of its focus on providing coordinated, high-quality care. Wellmark members who meet coverage and medical necessity guidelines will be able to access CGIs comprehensive menu of oncology diagnostic tests through their network physician.
“CGI’s new agreements with these three providers represents a significant milestone in our larger corporate strategy, which is geared toward increasing health plan reimbursement for our genomic testing platforms and offering our services to a wider patient community,” said Randy Goodman, Ph.D., Director of Reimbursement and Clinical Revenue Cycle Management at Cancer Genetics, Inc. “Developing relationships with leading regional and national payer organizations is central to our strategy and we are very pleased to be able to offer cancer diagnostic testing services to members in these two Blue Cross Blue Shield networks and expand overall coverage opportunities for our business.”
In recent months, CGI has secured agreements with healthcare networks including Blue Cross Blue Shield of Alabama, Blue Cross Blue Shield of Illinois, Tufts Health and Blue Cross Blue Shield of Minnesota. These agreements significantly expanded access to CGI’s cancer diagnostic services to over 13 million individuals across the country. This is part of CGI’s multipart access and reimbursement strategy geared toward securing reimbursement for its genomic testing platforms by establishing relationships with leading payers. One of the end goals of this strategy is to help providers appropriately manage and personalize treatment to improve patient outcomes.
About Cancer Genetics
Cancer Genetics Inc. is an emerging leader in DNA-based cancer diagnostics. Our tests target difficult to diagnose hematological, urogenital and HPV-associated cancers. They are designed to guide the prognosis and treatment of these cancers with the goal of improving outcomes for patients. We have established strong clinical research collaborations with major cancer centers such as Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic and the National Cancer Institute.
We also offer a comprehensive range of oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals and biopharmaceutical companies. Our state-of-the-art reference labs are CLIA certified and CAP accredited in the US and have licensure from several states including New York State.
About Blue Cross Blue Shield North Carolina
Blue Cross and Blue Shield of North Carolina improves the health and well-being of our customers and communities by providing innovative health care products, services and information to more than 3.91 million members, including approximately 1 million served on behalf of other Blue Plans. Since 1933, we have worked to make North Carolina a better place to live through our support of community organizations, programs and events that promote good health. We have been recognized as one of the World’s Most Ethical Companies by Ethisphere Institute every year since 2012. Blue Cross and Blue Shield of North Carolina is an independent licensee of the Blue Cross and Blue Shield Association. Visit BCBSNC online at bcbsnc.com. All other marks are the property of their respective owners.
About Blue Cross Blue Shield Nebraska
Blue Cross and Blue Shield of Nebraska (BCBSNE) is a community-based, member-owned health insurance company serving more than 700,000 people. Since 1939, BCBSNE has been committed to protecting Nebraska families and delivering the health and wellness solutions Nebraskans value most. BCBSNE is an independent licensee of the Blue Cross and Blue Shield Association.
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Forward Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development and potential opportunities for Cancer Genetics, Inc. products and services, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Company’s Form 10-K for the year ended December 31, 2014 and 10-Q for the quarter ended June 30, 2015 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics disclaims any obligation to update these forward-looking statements.
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Source:Cancer Genetics, Inc.