CombiMatrix (CBMX) Notes HCSC Issuance of Policy to Include Reimbursement of Recurrent Pregnancy Loss Testing

August 16, 2016 6:06 AM EDT

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CombiMatrix Corporation (Nasdaq: CBMX) notes that Health Care Service Corporation (HCSC) has issued a medical policy to include reimbursement for chromosomal microarray analysis for the evaluation of pregnancy loss. HCSC is the largest customer-owned health insurance company in the United States. HCSC operates through Blue Cross and Blue Shield of Illinois, Blue Cross and Blue Shield of Montana, Blue Cross and Blue Shield of New Mexico, Blue Cross and Blue Shield of Oklahoma, and Blue Cross and Blue Shield of Texas.

“There are now at least 20 health insurance providers this year that have revised their medical policies to include coverage for recurrent pregnancy loss testing,” said Mark McDonough, President and Chief Executive Officer of CombiMatrix. “The accumulation of clinical data supporting the use of microarray analysis in providing important information to women who have suffered multiple miscarriages is certainly a supporting factor in these revised coverage decisions. We are especially pleased to report that 5 additional Blue Cross and Blue Shield plans in states where we continue to have commercial success have decided in favor of coverage. We expect this positive coverage decision trend to continue.

“Miscarriage analysis testing is a key part of our business and we are seeing the initial benefits of these coverage decisions,” McDonough added. “We reported a 33% revenue increase from miscarriage analysis testing for the first half of this year driven mainly by higher average revenue per test, which is in part related to these favorable coverage decisions. We are very encouraged by these trends and with the healthcare plans’ decision based on the data and evidence to cover a test that adds tremendous value to clinicians and to grieving parents who benefit from the information that microarray testing can provide.”

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