Payers have been slow to adopt new technologies, but they are starting to be more proactive in seeking out genomic profiling companies, according to David Fabrizio, of Foundation Medicine, Inc. These molecular diagnostic tools make the healthcare process more efficient by performing a comprehensive test at the point of diagnosis.
Payers have been slow to adopt new technologies, but they are starting to be more proactive in seeking out genomic profiling companies, according to David Fabrizio, of Foundation Medicine, Inc. These molecular diagnostic tools make the healthcare process more efficient by performing a comprehensive test at the point of diagnosis.
Transcript (slightly modified)
What specific challenges does the molecular diagnostics industry face with respect to insurance coverage for their products?
So, I think that there is a challenge associated with getting coverage for molecular diagnostics. I think that for the most part payers have been slow to adopt new technologies and really, they haven’t been incentivized to do so, I think, up until recently. But I think what we’re starting to see is that payers are being more proactive, certainly, in seeking out companies like Foundation Medicine who are building these comprehensive genomic profiling assays to understand at the molecular level what’s going on inside a patient’s tumor, and these are encouraging signs.
I think that they’re starting to understand the implication of using these molecular diagnostics up front at the very point of diagnosis, because it can remove a lot of the ambiguity associated with following that trail of breadcrumbs about understanding what is really contributing to a patient’s disease and what is the best course of therapy. So rather than doing 1 test and getting 1 answer and then trying a treatment that doesn’t work and then trying another test, you do a comprehensive test like a FoundationOne test, for instance, up front, and it makes the healthcare process more efficient, and that’s a benefit to patients and payers.
Overcoming Employment Barriers for Lasting Social Impact: Freedom House 2.0 and Pathways to Work
April 16th 2024To help celebrate and recognize National Minority Health Month, we are bringing you a special month-long podcast series with our Strategic Alliance Partner, UPMC Health Plan. Welcome to our second episode, in which we learn all about Freedom House 2.0 and the Pathways to Work program.
Listen
Beyond Insulin: The Impact of Next-Generation Diabetes Technology
April 17th 2024Experts explain how new diabetes technologies like continuous glucose monitors are transforming care beyond intensive insulin therapy, offering personalized insights and improving outcomes for patients of all treatment levels.
Read More
Making Giant Strides in Maternity Health Through Baby Steps
April 9th 2024To help celebrate and recognize National Minority Health Month, we are kicking off a special month-long podcast series with our strategic alliance partner, UPMC Health Plan. Welcome to our first episode, which is all about the Baby Steps Maternity Program and its mission to support women throughout every step of their pregnancy journey.
Listen