GTG expands US reach for BREVAGen

Genetic Technologies (ASX:GTG) has signed an agreement that expands the reach of its BREVAGen breast cancer risk assessment tool to more US health insurance customers.

The company has signed a credentialing agreement with US preferred provider organisation (PPO) MultiPlan.

The deal will allow BREVAGen claims to be adjudicated ‘in-network’ for the roughly 39 million people under the MultiPlan umbrella and the 700,000 healthcare professionals who treat them.

GTG said reimbursements from claims adjudicated in-network are typically 25% higher and received far more quickly than out-of-network claims.

GTG has five existing agreements with other US PPOs. The MultiPlan deal expands in-network coverage to over 62 million lives.

Announcing the deal, the company said it is “now actively pursuing additional agreements with other PPOs in order to further extend access to an increased number of covered lives”.

GTG recently negotiated two separate settlements and resolved a long-running licensing dispute in its legal blitz to coerce gene screening companies to license the non-coding DNA patents underlying the BREVAGen test.

Genetic Technologies shares were trading 11.63% higher at $0.096 as of around 1 pm on Monday.