Genetic testing is one of the fastest growing segments in healthcare. There are more than 140,000 genetic testing products on the market, and 10-15 new tests are added each day. However, fewer than 400 billing codes exist to represent all these genetic tests. So, it is often impossible to tell what test a claim represents. Given these factors, it’s no surprise health plans experience:
Test prices and reimbursements that vary widely and sometimes rise well above relevant benchmarks
Difficulty distinguishing labs according to quality and value
Test orders out of policy or against available guidelines
Highly variant coding, especially for expensive multi-gene panels
Fortunately, Concert Genetics has a solution to bring order to the chaos.