Parsippany-based Interpace Diagnostics, a subsidiary of Interpace Biosciences, announced Monday it entered a contract with Blue Cross Blue Shield of Massachusetts—with more than three million members in Massachusetts and across New England.
The contract expands Interpace’s ThyGeNEXT and ThyraMIR thyroid assays as both covered services and in-network services for BCBS of Massachusetts members. As a result of this agreement, members of BCBS of Massachusetts can take advantage of the benefits of ThyGeNEXT and ThyraMIR testing due to Interpace’s status as an in-network provider.
While terms of this agreement were not disclosed, Interpace says it now benefits from a claim adjudication perspective as an in-network lab.
Interpace has also successfully achieved positive medical coverage for its services through Medicare as well as other leading national and regional health plans, and is now entering into contracts to confirm such agreements.
Jack Stover, chief executive officer of Interpace said: “This contract with Blue Cross Blue Shield of Massachusetts continues our trend of establishing improved reimbursement through participation as an in-network provider. I’m pleased to announce that this is the first contract secured by our new Vice President of Managed Care and Payer Relations, Jeff Salzman.”
According to the American Thyroid Association, approximately 20 percent of the 525,000 thyroid fine-needle aspirations performed on an annual basis in the U.S. are indeterminate for malignancy based on standard cytological evaluation, and thus are candidates for ThyGenX and ThyraMIR.
ThyGenX and ThyraMIR reflex testing yields high predictive value in determining the presence and absence of cancer in thyroid nodules. The combination of both tests can improve risk stratification and surgical decision-making when standard cytopathology does not provide a clear diagnosis for the presence of cancer.
ThyGenX utilizes state-of-the-art next-generation sequencing (NGS) to identify more than 100 genetic alterations associated with papillary and follicular thyroid carcinomas, the two most common forms of thyroid cancer.