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Arrayit Corporation Retains Top Credentialing Company to Accelerate Allergy Testing Services Reimbursement from Major Healthcare Payors
By GlobeNewswire, May 6, 2019, 05:30:00 AM EDT: Source Arrayit Corporation
Sunnyvale, May 6, 2019 (GLOBE NEWSWIRE) -- Arrayit Corporation (OTC: ARYC), a life sciences and personalized medicine company, announces that it has retained a seasoned healthcare credentialing organization to optimize and accelerate reimbursement of its allergy testing services from leading commercial and government payors. The credentialing company is working to secure in-network billing privileges with 29 major commercial health benefits leaders and to streamline payments from state (Medicaid) and federal (Medicare) programs. Arrayit finger stick allergy testing services empower physicians to more effectively identify, treat and manage allergy and asthma in an estimated 60,000,000 (60 million) symptomatic Americans by providing rapid and accurate electronic test results from a few drops of patient blood. In 2018, US healthcare expenditure topped $3,600,000,000,000 ($3.6 trillion) including more than $550,000,000,000 ($550 billion) and $700,000,000,000 ($700 billion) from Medicaid and Medicare, respectively. The company believes its allergy testing services offer an excellent value proposition in the rapidly expanding health and wellness markets.
Arrayit recently completed an allergy testing pilot program for a top retail chain, established a nationwide network of 1,700 allergy sales professionals, met with top officials at the United States Food and Drug Administration (FDA) regarding approval of a major product line, fulfilled an FDA clinical instrumentation contract, received approval for in-store promotions by a major retailer, announced allergy testing partnerships with major allergy therapeutics providers, received approval for direct Medicare billing by the Centers for Medicare and Medicaid Services, launched the Patient Data Solutions allergy portal for doctors and clinics, celebrated 25 years of company operations, announced an allergy testing services agreement with a major health and wellness provider, provided a letter to shareholders from the company's Chief Executive Officer, aced four consecutive rounds of proficiency testing, received endorsement by First Pediatrics Medical Group, doubled the number of clinics in its nationwide network to more than 400, announced in-network allergy testing services contracting with a top five commercial health benefits company, doubled its weekly billing guidance, appointed an Apple enterprise healthcare partner to accelerate revenues and earnings growth, expanded allergy testing services evaluation with a major retail pharmacy chain and grew its allergy testing healthcare network to 700 clinics. Enhanced billing credentials with commercial and government payors is expected to substantially increase fiscal year 2019 revenues and earnings.
CEO Rene Schena states, "We are pleased to have engaged a top healthcare credentialing company to accelerate the accessibility of our allergy testing services to doctors and their patients. Our personalized and preventative allergy testing services can improve physician-supervised patient outcomes by coupling highly accurate personalized testing services with the advanced immunotherapy options provided by our therapeutics partners."
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.
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