Today, ten new genetic and molecular diagnostics tests are introduced every day. The “Journal of the American Board of Family Medicine” calculates that the time spent figuring out insurance coverage for genetic and molecular testing costs a physician between $2,000 to over $3,000 annually just for the physicians time alone.
“New rules requiring care providers and labs to complete the Prior Authorization (PA) process has created a substantial administrative and financial burden for many genetic and molecular diagnostics,” said CoverMyTest Co-Founder Andrew Mignatti.
Inova https://www.inova.org a global leader in personalized health, orders thousands of genetic and molecular diagnostics tests each year driven largely by abdominal transplants, oncology, high-risk pregnancies, and genomics activities.
The Inova Personalized Health Accelerator https://www.inovapha.org has recently invested in the new software system called “CoverMyTest” (CMT) which is designed to optimize and automate the workflow involved with PAs. CMT is the only PA system available to providers to assist laboratories with genetic and genomic testing.
The CMT web-based platform provides a hub-service model that determines when a PA is required, conducts patient eligibility, and then checks and delivers electronic PAs for physicians. The platform also provides insurance verification, gathers documentation, submits PA submissions, and performs deductible management functions.