- A two-way patient physician relationship is established
- Appropriate informed consent is obtained
- Results are interpreted correctly
- Abnormal results are flagged responsibly and communicated in a way to drive action
- State guidelines are being met for the ordering of laboratory tests
- Next steps are provided and the individual is triaged to local care when called for
In April of 2017, in an effort to simplify the customer experience, the Company switched its billing model from a traditional reimbursement system through medical insurance providers, to a direct patient self-pay system, with a new reduced list price of USD $349.00 per test. The rationale behind the change in the billing system was based on the recognition that gaining adequate payment for BREVAGen plus, through a CPT miscellaneous code, had become increasingly difficult over the past few years. Furthermore, by converting to a direct pay relationship with patients, the Company added certainty to the transaction, thus, eliminating issues such as low levels of reimbursement, prolonged payment time, patient confusion around eligibility and financial responsibility and poor coverage.Under the refined commercial program, the Company will continue to provide product consulting and educational resources to the physician and patient communities. A BREVAGen plus dedicated staff member will be available telephonically to address incoming product specification queries and provide counsel to parties interested in learning more about the test. About Genetic Technologies Limited Genetic Technologies is a molecular diagnostics company that offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company's lead product, BREVAGen plus ®, is a clinically validated risk assessment test for non-hereditary breast cancer and is first in its class. BREVAGen plus is designed to facilitate better informed decisions about breast cancer screening and preventive treatment plans, and is directed towards women aged 35 years or above, who have not had breast cancer and have one or more risk factors for developing breast cancer. The Company markets BREVAGen plus, through its U.S. subsidiary Phenogen Sciences Inc., to healthcare professionals in comprehensive breast health care and imaging centres, as well as to obstetricians/gynaecologists (OBGYNs) and breast cancer risk assessment specialists (such as breast surgeons). For more information, please visit www.brevagenplus.com and www.phenogensciences.com. Genetic Technologies is developing a pipeline of risk assessment products including a novel colorectal cancer test. For more information, please visit www.gtgcorporate.com Safe Harbor Statement Any statements in this press release that relate to the Company's expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act . The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Additional risks associated with Genetic Technologies' business can be found in its periodic filings with the SEC.
FOR FURTHER INFORMATION PLEASE CONTACTMr. Eutillio Buccilli Executive Director & Chief Executive Officer Genetic Technologies Limited + 61 3 8412 7050Jason Wong (USA)Blueprint Life Science Group+ 1 (415) 375 3340, Ext. 4