MADISON, Wis., April 4, 2017 /PRNewswire/ -- Exact Sciences
Corp. (Nasdaq: EXAS) today announced that the Centers for Medicare
and Medicaid Services (CMS) included Cologuard® in its
updated Medicare Advantage Star Ratings program. Medicare
Advantage plans now can help increase their Star Ratings when their
beneficiaries complete Cologuard, Exact Sciences' non-invasive
colon cancer screening test.
"We are pleased that Cologuard has been included in the Star
Ratings program, which is aimed at improving accountability,
performance and quality in Medicare Advantage plans across the
country," said Kevin Conroy,
chairman and CEO of Exact Sciences. "The incentives provided to
insurers through the Star Ratings program also should help broaden
adoption of Cologuard over time, as we work to make our test a
standard of care for colon cancer screening."
Cologuard's inclusion in the 2018 Medicare Advantage Star
Ratings program creates consistency with the Healthcare
Effectiveness Data and Information Set (HEDIS) quality ratings.
Medicare Advantage plans will receive quality credit for Cologuard
tests completed in 2014, 2015, 2016 and beyond. These updates may
have a positive impact on the overall Star Ratings of Medicare
Advantage plans.
"Cologuard is expanding the pool of patients who have been
screened for colon cancer and maintaining very high levels of
physician and patient satisfaction," Mr. Conroy said. "These
factors are central to the Star Ratings program and, as a result,
are important to Medicare Advantage plans. Cologuard's unique
characteristics can help Medicare Advantage plans provide better
colon cancer screening to their patients, while helping increase
their Star Ratings."
About Cologuard
Cologuard was approved by the FDA in August
2014 and results from Exact Sciences' prospective 90-site,
point-in-time, 10,000-patient pivotal trial were published in the
New England Journal of Medicine in March 2014. Cologuard is included in the
recommendations of the U.S. Preventive Services Task Force (2016)
and the American Cancer Society's (2014) colorectal cancer
screening guidelines. Stool DNA is included in the combined
screening guidelines of the American Cancer Society/U.S.
Multi-Society Task Force/American College of Radiology (2008), the
American College of Gastroenterology guidelines (2009) and the
National Comprehensive Cancer Network (2016). Cologuard is
indicated to screen adults of either sex, 50 years or older, who
are at average risk for colorectal cancer. Cologuard is not for
everyone and is not a replacement for diagnostic colonoscopy or
surveillance colonoscopy in high-risk individuals. False positives
and false negatives do occur. Any positive test result should be
followed by a diagnostic colonoscopy. Following a negative result,
patients should continue participating in a screening program at an
interval and with a method appropriate for the individual patient.
Cologuard performance when used for repeat testing has not been
evaluated or established. For more information about Cologuard,
visit www.CologuardTest.com. Rx Only.
About Exact Sciences Corp.
Exact Sciences Corp. is a molecular diagnostics company focused on
the early detection and prevention of the deadliest forms of
cancer. The company has exclusive intellectual property protecting
its non-invasive, molecular screening technology for the detection
of colorectal cancer. For more information, please visit the
company's website at www.exactsciences.com, follow Exact
Sciences on Twitter @ExactSciences or find Exact Sciences on
Facebook.
Forward-Looking Statements
This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that are intended to
be covered by the "safe harbor" created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe our future plans, strategies and expectations, can
generally be identified by the use of forward-looking terms such as
"believe," "expect," "may," "will," "should," "could," "seek,"
"intend," "plan," "estimate," "anticipate" or other comparable
terms. All statements other than statements of historical facts
included in this news release regarding our strategies, prospects,
financial condition, operations, costs, plans and objectives are
forward-looking statements. Examples of forward-looking statements
include, among others, statements we make regarding Cologuard's
potential inclusion in the Medicare Advantage Star Ratings,
expected future operating results, anticipated results of our sales
and marketing efforts, expectations concerning payor reimbursement
and the anticipated results of our product development efforts.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results and financial
condition may differ materially from those indicated in the
forward-looking statements. Therefore, you should not rely on any
of these forward-looking statements. Important factors that could
cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, the following: our ability to successfully
and profitably market our products and services; the acceptance of
our products and services by patients and healthcare providers; our
ability to meet demand for our products and services; the
willingness of health insurance companies and other payors to cover
Cologuard and reimburse us for our performance of the Cologuard
test; the amount and nature of competition from other cancer
screening products and services; the effects of the adoption,
modification or repeal of any healthcare reform law, rule, order,
interpretation or policy; the effects of changes in healthcare
pricing, coverage and reimbursement; recommendations, guidelines
and quality metrics issued by various organizations such as the
U.S. Preventive Services Task Force, the American Cancer Society,
and the National Committee for Quality Assurance regarding cancer
screening or our products and services; our ability to successfully
develop new products and services; our success establishing and
maintaining collaborative, licensing and supplier arrangements; our
ability to maintain regulatory approvals and comply with applicable
regulations; and the other risks and uncertainties described in the
Risk Factors and in Management's Discussion and Analysis of
Financial Condition and Results of Operations sections of our most
recently filed Annual Report on Form 10-K and our subsequently
filed Quarterly Report(s) on Form 10-Q. We undertake no obligation
to publicly update any forward-looking statement, whether written
or oral, that may be made from time to time, whether as a result of
new information, future developments or otherwise.
Contact: J.P. Fielder
+1 608 210 5220
jpfielder@exactsciences.com
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SOURCE EXACT SCIENCES CORP