LA JOLLA, Calif., March 15, 2016 /PRNewswire/ -- DermTech, Inc., an emerging diagnostics company focusing on non-invasive gene expression tests for skin cancer, announced today that it has completed contracts for payment with two of the largest third party payor networks in the United States, MultiPlan and FedMed. More than 100 million members use these two networks and nearly 1.5 million providers participate in them.
Steve Kemper, the company's CFO, stated: "We are very pleased to become a participating member with these large payor networks making our Pigmented Lesion Assay (PLA) significantly more accessible and affordable to many patients with skin cancer concerns. Our ability to gain agreements with companies such as FedMed and MultiPlan serves as growing evidence that the healthcare community is recognizing the important role of molecular pathology in the detection of skin cancer."
DermTech is a commercial stage molecular dermatology company developing non-invasive gene expression tests to aid the clinical diagnosis of skin cancer and other skin conditions. DermTech operates a CLIA licensed laboratory located in the company's La Jolla, CA headquarters. DermTech's technology allows the analysis of skin biopsy samples collected non-invasively using an adhesive patch. DermTech provides highly accurate, objective information to the physicians to improve care and reduce costs. Current dermatologic diagnosis is primarily based on subjective visual pattern recognition that is prone to error and results in a substantial number of unnecessary surgical procedures. For additional information visit: www.dermtech.com.
Founded in 1980, MultiPlan is the industry's most comprehensive provider of healthcare cost management solutions. MultiPlan has almost 900,000 healthcare providers under contract, an estimated 68 million consumers accessing their network products, and 40 million claims processed through their network and non-network solutions each year.
FedMed operates a proprietary Preferred Provider Organization consisting of over 550,000 Physicians, 4,000 Hospitals and 60,000 Ancillary Care Providers nationwide.
Their list of clients includes Insurance Companies, Third Party Administrators (TPAs), Self- Administered Employer Groups, Taft-Hartley funds, Student Programs, International Programs, etc. Over 40 million Americans currently have access to FedMed's National Provider Network.
Sarah Dennison, MBA
VP of Marketing
SOURCE DermTech, Inc.