San Francisco-based genetic testing company Invitae has rolled out a one-price-fits-all payment model for its range of tests, charging a set $475 for any test for patients who don’t go through their health insurance.
The company’s genetic tests are usually billed at $950 for in-network providers or $1,500 or out-of-network providers, a cost that is often passed on to patients as more people than ever are enrolled in high-deductible plans.
Instead, patients can register online with Invitae ahead of time and prepay the $475 for any of the firm’s tests, which include screenings for cancer, cardiology, neurology, pediatric genetics and hematology. It also includes genetic tests for BRCA 1 and 2.
[Also: University of Michigan Health spends $160 million to upgrade lab testing]
Invitae announced the pricing at this week’s American Society of Clinical Oncology annual meeting.
“Most of the conversations about reimbursement for genetic testing have focused on economic issues. However, an under-appreciated dimension in using genetic testing for genetic care is an ethical one. For years, many people and their families have not had the benefit of clearly indicated genetic testing due to unwillingness of third-party payers to pay the historically high cost,” Robert Nussbaum, Invitae’s incoming chief medical officer who is currently the chief of the Division of Genomic Medicine at UCSF Health, said in a statement.
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“Now that the genetics market is becoming a generic market—and thanks to the ongoing innovations and cost reductions in sample preparation, sequencing and medical interpretation—we are beginning to see the benefits translated into affordable testing for patients.”
Invitae isn’t the only company trying to bring down the costs for genetic testing, especially for BRCA 1 and 2 since a positive test can mean a person’s risk for certain cancers skyrockets. Silicon Valley-based Color Genomics is marketing a $250 “spit test” for BRCA 1 and 2 that patients can mail to its laboratories for testing.
Twitter: @HenryPowderly