Belfast MedTech firm Diaceutics has partnered with Alva10 to improve how its new diagnostic network DXRX works in the US health insurance market.
Earlier this year, Belfast-based MedTech firm Diaceutics launched a new digital platform designed to help bring global pharma stakeholders together to collaborate on testing and standardisation issues. Named "DXRX – The Diagnostic Network®," the system is the first diagnostic network for precision medicine and could help solve problems with disease testing and treatment worldwide.
Precision medicine technology firm Alva10 has now joined the network, bringing an important set of capbilities that the network will need in order to help commercialise precision medicine diagnostic testing. Alva10 uses precision medicine testing to assess whether patients will respond to expensive treatments before they're given, and then works with health insurance payers. The partnership with Alva10 will help improve test coverage by insurance payers in the US market, one of the diagnostic network's key goals.
RELATED: Diaceutics launches global platform to streamline cancer test development
Hannah Mamuszka, CEO, Alva10, said: "Today’s model for reimbursement does not take into account the value of the diagnostic, the investment required to develop it, or the resources required to run that diagnostic in a way that allows physicians to receive the information in a timely way to inform patient care. We are delighted to join DXRX as a service provider to be able to deliver this enhanced reimbursement solution on a much broader scale to labs, pharma, payers and diagnostic companies across the US."
Jeff Schreier, Senior Director, Innovation at Diaceutics, said: "As we see exponential growth in the number of precision medicine therapies coming to market, our pipeline of global diagnostic testing data points to a growing number of opportunities for industry collaboration by all stakeholders in the value-chain. Test access and reimbursement are critical pieces of the end-to-end development and commercialisation process which DXRX has been designed to transform."
Source: Written based on press release
