CombiMatrix Comments on Medical Policy Revisions by Cigna Health and Three BCBS Health Plans to Reimburse for Recurrent Pregn...
March 29 2016 - 6:00AM
CombiMatrix Corporation (NASDAQ:CBMX), a molecular diagnostics
company specializing in DNA-based testing services for prenatal and
postnatal developmental disorders and pre-implantation genetic
screening services, announces that global health provider Cigna
Health Services, Blue Cross Blue Shield of North Carolina, Premera
Blue Cross Blue Shield and Life Wise of Oregon, an affiliate of
Premera, have all revised their medical policies to include
chromosomal microarray testing as medically necessary for the
evaluation of recurrent pregnancy loss (i.e., two or more
consecutive pregnancy losses). Since the beginning of 2016, six
health plans have revised their medical policies to include
coverage of recurrent pregnancy testing.
“We are highly encouraged by the increasing
number of providers revising their medical policies to reimburse
for recurrent pregnancy loss testing,” said CombiMatrix President
and Chief Executive Officer Mark McDonough. “We see these decisions
as recognition of the growing clinical support for chromosomal
microarray testing in providing valuable information to women and
their families about the reasons behind multiple miscarriages.
“We provide a chromosomal microarray test for
miscarriage analysis and have a team of genetic counselors
available to health plan providers to assist physicians and
families in decision-making,” McDonough added. “We believe that
revisions in the medical policies by these providers, and possibly
by others to follow, will have a very positive impact on our
fastest growing, best reimbursed component of our business, which
is miscarriage analysis testing.”
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 prenatal diagnostics, miscarriage analysis for
recurrent pregnancy loss, pediatric genetics and pre-implantation
genetic screening, 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," "continue," "ongoing," similar expressions, and
variations or negatives of these words and include, but are not
limited to, statements regarding 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 revised policy
decisions will positively impact revenues and whether other payors
will make similar policy decisions in the future; our ability to
open new market opportunities for our tests; our ability to drive
scientific advancement; 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 both
prenatal and developmental 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
LHAPresident & CEO,
CombiMatrix Corporation
Jody
Cain(949) 753-0624
(310)
691-7100 jcain@lhai.com
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