CMS Increases Final Pricing Determination for Oncotype DX Breast Cancer Test to Previously Established Rate of $3,416

On Tuesday, October 6, 2015, the Centers for Medicare and Medicaid Services (CMS), which administers the Medicare program, issued updated pricing determinations for the Clinical Laboratory Fee Schedule (CLFS) including a payment rate of $3,416 for the Oncotype DX® breast cancer test. This is the same rate paid by Noridian Healthcare Solutions, the Medicare Administrative Contractor (MAC) who processes Genomic Health's (Nasdaq: GHDX) claims. This means the payment rate for the Oncotype DX breast cancer test will remain at the current contracted rate of $3,416 through 2016. In 2017, market-based rates under the Protecting Access to Medicare Act (PAMA) are expected to replace the current Medicare CLFS."We are pleased that CMS quickly revised its final pricing determination for the Oncotype DX breast cancer test to reflect the MAC-established rate as well as the factors set forth by Medicare to establish payment amounts, such as market rates and resources," said Kim Popovits, chairman of the board, chief executive officer and president of Genomic Health.