GTG signs with new US PPO for BREVAGen
Genetic Technologies (ASX:GTG) has reached a deal with an eighth US preferred provider organisation (PPO) to expand the reach of its BREVAGen breast cancer risk test to more insured Americans.
The company, through subsidiary Phenogen Sciences, has signed an agreement with InterWest Health, a regional preferred provider network covering seven north-western US states.
In the US, PPOs are covenants of US medical care providers agreeing to band together with an insurer to provide lower-cost services to the insurer’s customers under a subscription model.
Adjudicating insurance claims in-network through PPOs significantly decreases the time for processing, and GTG has previously said that the average reimbursement is around 25% higher than out-of-network claims.
The deal comes two months after Genetic Technologies reached its seventh arrangement with a US PPO.
Genetic Technologies said it was pursuing agreements with additional US PPOs to extend BREVAGen access to an increased number of covered lives.
Genetic Technologies (ASX:GTG) shares were trading unchanged at $0.08 as of around 12.30 pm on Thursday.
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