Rosetta Genomics Shares Jump as Co. Announces Credentialing Deal with Three Rivers Provider Network

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 Rosetta Genomics Ltd.
ROSG
, a leading developer and provider of microRNA-based molecular diagnostics, announces that the Company has executed a credentialing agreement with Three Rivers Provider Network, Inc. (TRPN) of Chula Vista, Calif., for the Rosetta Cancer Origin Test.  TRPN is one of the largest supplemental Preferred Provider Organizations (PPO) in the U.S., providing healthcare benefits to more than 10 million members nationwide. "This is the second credentialing agreement executed between Rosetta and a U.S. PPO.  Together with Medicare reimbursement, the total number of covered lives and for which the Rosetta Cancer Origin Test could be adjudicated as 'in-network' now exceeds 61 million, which means that one-in-five Americans are covered for the Rosetta Cancer Origin Test," said Kenneth A. Berlin President and Chief Executive Officer of Rosetta Genomics.  "We continue to pursue additional agreements with other PPOs as they provide faster payment while maintaining acceptable levels of reimbursement, and also reduce costs incurred through appealing denials.  This has become increasingly important to our company as we continue to see a growing number of samples being processed and billed by our CLIA lab." "This agreement comes at a good time for Rosetta as it follows on our strong presence at ASCO 2013, where we significantly enhanced the awareness of the Cancer Origin Test among an audience of the world's leading oncologists and researchers.  In addition, positive trends in billable and processed samples for the Cancer Origin Test have led us to begin expansion of our sales territories from 5 to 12.  The credentialing agreement with TRPN further enhances our ability to gain traction in the market and to further increase access of this test to patients with a CUP diagnosis. "With more than 200,000 patients per year presenting with Cancer of Unknown or Uncertain Primary (CUP) or who would otherwise benefit from this test, this expanding coverage reflects the importance of determining the tumor origin in hard-to-diagnose metastatic cancers and CUP.  This is particularly important as new, molecularly-targeted cancer treatments are developed.  We believe the Rosetta Cancer Origin Test^™ can  help physicians to accurately diagnose tumor origin in order to optimize treatment. The availability and accuracy of our Cancer Origin Test underscores why the uncertainty of CUP is no longer acceptable," Mr. Berlin added.  A PPO is a managed care organization of medical doctors, hospitals and other health care providers that has covenanted with an insurer or a third-party administrator to provide health care at reduced rates to the insurer's or administrator's clients. Credentialing is a process whereby provider organizations such as physicians, care facilities and ancillary providers (including testing service providers such as Rosetta Genomics') contract directly with the PPO. 
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