Corporate - Media & Press - Press Release
Arrayit Corporation Achieves Testing Accuracy Required for Medicare and Medicaid Reimbursement
GlobeNewswire May 30, 2018 08:30 ET Source: Arrayit Corporation
Sunnyvale, CA , May 30, 2018 (GLOBE NEWSWIRE) -- Arrayit Corporation (OTC: ARYC), a life sciences and personalized medicine company, announces that the company has achieved the clinical testing accuracy required for reimbursement under Medicare and Medicaid. Accuracy testing, supervised by the College of American Pathologists (CAP), assesses quantitative measurements of the immunoglobulin E (IgE) regulated analyte in the general immunology proficiency testing program. Arrayit’s testing performance included a score of 100% on the SA-2018 proficiency event and constituted successful cumulative performance required by the Centers for Medicare and Medicaid Services (CMS) over a one-year testing period. CMS regulates approximately 260,000 clinical laboratories through the Clinical Laboratory Improvement Amendments (CLIA) program, and proper certification is required to receive Medicare and Medicaid payments.
Arrayit is pioneering next generation personalized medicine tests that utilize non-invasive finger stick blood sampling, convenient blood card collection and patented and proprietary microarray technology to accurately and rapidly test analytes in the bloodstream that can assist in identifying and treating allergy, asthma and food intolerance. These tests are being offered through major brands to hospitals, health maintenance organizations (HMOs), clinical laboratories, physician groups, consumers through the assistance of medical doctors, and patients covered by the Medicare and Medicare federal health insurance programs. Medicare and Medicaid services combine for more than $1,200,000,000,000 ($1.2 trillion) in total healthcare expenditures annually for the 117 million recipients.
Arrayit CEO Rene Schena states, “Achieving the accuracy benchmark required for Medicare and Medicaid reimbursement allows us to expand the availability of our personalized medicine products to assist healthcare providers covering a large number of American families with government insurance. The non-invasiveness of our finger stick blood tests is particularly suited for young people, seniors and demographics requiring monitoring at regular intervals for allergy, asthma, food intolerance and other lifestyle indications.”
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the research, biotechnology, pharmaceutical, clinical and healthcare sectors through the discovery, development and manufacture of proprietary life science and personalized medicine products and services to advance biomedical research and improve wellness and human health. Please visit www.arrayit.com for more information.
Safe Harbor Statement
We have identified forward-looking statements by using words such as "expect", "believe", and "should". Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's public filings.
Copyright 1993-2018 Arrayit Corporation. All rights reserved.