Exact Sciences (EXAS) Announces Updated CMS Evidence of Coverage for Cologuard

August 15, 2016 6:13 AM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

Exact Sciences Corp. (Nasdaq: EXAS) announced that the Centers for Medicare and Medicaid Services (CMS) issued an updated Evidence of Coverage notice for Medicare Advantage plans that affirms such plans must include coverage of Cologuard every three years without patient coinsurance, copayments or deductibles.

"The CMS update assures patients and physicians that Cologuard is covered by Medicare Advantage plans without any out-of-pocket costs," said Kevin Conroy, chairman and CEO of Exact Sciences. "The update is also significant because it reflects CMS' recognition that Cologuard is an A-graded preventive service under the recently updated USPSTF colorectal cancer screening recommendations. CMS requires Medicare Advantage plans to cover A-graded services without patient cost sharing."

CMS recently issued its 2017 model Evidence of Coverage notice for Medicare Advantage Organizations and included stool DNA-based colorectal cancer screening for first time. In 2016, 17.6 million Americans were enrolled in Medicare Advantage plans. This represents 31 percent of Medicare beneficiaries.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Management Comments

Related Entities


Add Your Comment