PHILADELPHIA and REHOVOT, Israel, May 20, 2013 /PRNewswire/ -- Rosetta Genomics Ltd. (NASDAQ: ROSG), a leading developer and provider of microRNA-based molecular diagnostics, announces that the Company has executed a credentialing agreement with Prime Health Services, Inc. (Prime Health), a managed care company that offers a full spectrum of services, including a Preferred Provider Organization (PPO), for the inclusion of Rosetta Genomics' miRview ® mets 2 test in Prime Health's covered products and services.
The agreement with Prime Health is the first credentialing agreement executed between Rosetta Genomics and a U.S. PPO, and increases the number of covered lives for which its miRview ® mets 2 test could be adjudicated as "in-network" to more than 6.5 million.
"Partnering with PPOs such as Prime Health allows for expedited claim adjudication for miRview ® mets 2 as in-network. This provides faster payment while maintaining an acceptable level of reimbursement, and also reduces costs incurred through appealing denials. This has become increasingly important to us as we continue to see an increasing number of samples being processed and billed in our CLIA lab. We are pursuing additional agreements with other PPOs to extend access to a growing number of covered lives," stated Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics.
A PPO is a managed care organization of medical doctors, hospitals and other health care providers that has covenanted with an insurer or a third-party administrator to provide health care at reduced rates to the insurer's or administrator's clients. Credentialing is a process whereby provider organizations such as physicians, care facilities and ancillary providers (including testing service providers such as Rosetta Genomics) contract directly with the PPO.
About Prime Health Services, Inc. Founded in 1996 and based in Brentwood, Tennessee, Prime Health Services is a managed care company that offers a full spectrum of services, including a Preferred Provider Organization (PPO) ready for access with customizable solutions, as well as re-pricing offerings. Prime Health's PPOs include Workers' Compensation, Group Health and Auto Liability networks. Prime Health has more than 500,000 providers and facilities nationwide forming the Prime Health National Delivery System. Prime Health offers its National Delivery System to the TPA, insurance carrier and self-insured markets. More Information is available at www.primehealthservices.com or by calling 1-866-348-3887.