Genomind’s pharmacogenetic test will be covered and reimbursed by Medicare effective 1/19/2021. This additional benefit coverage brings the total number of lives covered to more than 100 million across commercial health plans, the Veterans Administration and Medicare.
This is especially important and relevant as the COVID-19 pandemic has exacerbated the mental health crisis for all, including seniors with multiple underlying conditions which can compound mental health issues. The need for new and effective tools is critical to achieving improved health outcomes in the treatment of mental health.
Genomind’s PGx test provides clinicians with a comprehensive report of up to 24 genes that delivers important prescribing guidance designed to help reduce the traditional process of trial and error with mental health medications. Every test includes access to Genomind’s PhD and PharmD expert consults and state-of-the-art gene-drug-drug interaction software, to help enable safer and more precise prescribing. Genomind also offers complimentary two-day shipping to and from the patient’s home or clinician’s office to help enable telehealth delivery in the era of COVID-19.
Genomind has assisted more than 15,000 providers select safe and appropriate treatment for more than 270,000 patients with mental illness.
“Multiple studies including several meta-analyses have proven that understanding a patient’s genes allows for precision medication guidelines as it relates to mental health,” said Shawn O’Brien, previous Chairman and CEO of Genomind. “This isn’t surprising because we’ve seen how an understanding of our genes can vastly improve medical outcomes in other areas of medicine including oncology and cardiovascular health. It’s very meaningful to patients, consumers, clinicians, employers, health care system and payers that genetic advancements can be applied to mental health.”
Studies have demonstrated that the Genomind pharmacogenetic (PGx) test will improve patient outcomes and save health plans money when the guidance is followed. These studies show effectiveness (improved outcomes in 87% of patients) and significant costs savings. A large peer reviewed, case-control study performed in collaboration with Aetna’s subsidiary company, Healthagen, showed that plans will save on average $2,000 per patient in the first 6 months after use of the product; that equates to a possible savings of $3.5 billion for each 25 million covered lives. Importantly, the study showed that those patients whose treatment was selected following use of the assay had significantly fewer ER visits and in-patient hospitalizations, which could potentially translate to a major benefit during the COVID-19 pandemic.
Genomind will also be significantly increasing its awareness campaigns to make sure as many Medicare patients as possible are aware they now have access to this important test.
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Genomind’s pharmacogenetic testing is the most advanced and comprehensive mental health pharmacogenetic test available. Get access to 24 genes related to mental health, 130+ medications, 10+ conditions, state-of-the-art tools, and 360 degrees of support. Register today!