Arrayit Corporation Approved for Direct Medicare Billing by the Centers for Medicare and Medicaid Services

Date : 09/10/2018 @ 10:30AM
Source : GlobeNewswire Inc.
Stock : Arrayit Corp. (PN CE) (ARYC)
Quote : 0.04005  0.00059 (1.50%) @ 3:21PM

Arrayit Corporation Approved for Direct Medicare Billing by the Centers for Medicare and Medicaid Services

Sunnyvale, Sept. 10, 2018 (GLOBE NEWSWIRE) -- September 10, 2018 - Sunnyvale, CA – Arrayit Corporation (OTC: ARYC), a life sciences and personalized medicine company, announces that Arrayit’s proprietary finger stick allergy microarray test has been approved for direct Medicare billing by the Centers for Medicare and Medicaid Services (CMS).  The Medicare national health insurance program provides health insurance to more than 55 million Americans annually, including 46 million seniors and 9 million younger people.  CMS projects a 2018 Medicare budget of approximately $705,000,000,000 ($705 billion dollars), representing about 17% of total federal spending.

Arrayit recently completed an allergy testing pilot program for a top retail chain, established a nationwide network of 1,700 allergy sales professionals, met with top officials at the United States Food and Drug Administration (FDA) regarding FDA approval of a major product line, reported the sale of clinical instrumentation to the FDA, signed allergy testing contracts with a consortium of 178 medical clinics, received approval for in-store promotions by a major retailer, and announced allergy testing partnerships with major allergy therapeutics providers.  The new Medicare billing entitlement allows doctors to prescribe Arrayit’s allergy test to a significantly expanded number of patients.

Arrayit CEO Rene Schena states, “Our mission of making allergy testing more accessible is facilitated by the direct Medicare billing entitlement, which makes it easier for doctors to prescribe the test to a larger patient population including seniors and young people.  The inherent coupling of preventative non-invasive allergy testing with personalized precision medicine allows doctors to leverage and recommend medicines, immunotherapy and lifestyle changes to better manage allergy and asthma.”

About Arrayit
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the research, biotechnology, pharmaceutical, clinical and healthcare sectors through the discovery, development and manufacture of proprietary life science and personalized medicine products and services to advance biomedical research and improve wellness and human health.  Please visit www.arrayit.com for more information.

Safe Harbor Statement
We have identified forward-looking statements by using words such as "expect", "believe", and "should". Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's public filings.

CONTACT
Public Relations
Arrayit Corporation
Tel: 408-744-1331
Email: arrayit@arrayit.com
Web: www.arrayit.com

Public Relations
Arrayit Corporation
Tel: 408-744-1331
Email: arrayit@arrayit.com
Web: www.arrayit.com

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