PHILADELPHIA and REHOVOT, Israel, June 7, 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 Three Rivers Provider Network, Inc. (TRPN) of Chula Vista, Calif., for the Rosetta Cancer Origin Test. TRPN is one of the largest supplemental Preferred Provider Organizations (PPO) in the U.S., providing healthcare benefits to more than 10 million members nationwide.
"This is the second credentialing agreement executed between Rosetta and a U.S. PPO. Together with Medicare reimbursement, the total number of covered lives and for which the Rosetta Cancer Origin Test could be adjudicated as 'in-network' now exceeds 61 million, which means that one-in-five Americans are covered for the Rosetta Cancer Origin Test," said Kenneth A. Berlin President and Chief Executive Officer of Rosetta Genomics. "We continue to pursue additional agreements with other PPOs as they provide faster payment while maintaining acceptable levels of reimbursement, and also reduce costs incurred through appealing denials. This has become increasingly important to our company as we continue to see a growing number of samples being processed and billed by our CLIA lab."
"This agreement comes at a good time for Rosetta as it follows on our strong presence at ASCO 2013, where we significantly enhanced the awareness of the Cancer Origin Test among an audience of the world's leading oncologists and researchers. In addition, positive trends in billable and processed samples for the Cancer Origin Test have led us to begin expansion of our sales territories from 5 to 12. The credentialing agreement with TRPN further enhances our ability to gain traction in the market and to further increase access of this test to patients with a CUP diagnosis.