Exagen Inc. Expands Coverage with MediNcrease
SAN DIEGO, June 09, 2022 (GLOBE NEWSWIRE) — Exagen Inc. (Nasdaq: XGN), a leading provider of autoimmune testing solutions, announced today the addition of Exagen Inc. to MediNcrease Health Plans, LLC’s national provider network, providing enhanced care to their approximately 7.5 million commercial lives. The agreement, effective July 1, 2022, with MediNcrease will make AVISE® tests, including AVISE® Lupus and AVISE® CTD accessible through MediNcrease’s client base of regional and national health plans, insurance companies, employers, municipalities, third-party administrators, unions, and other companies involved in the management of medical claims.
“Our partnership with MediNcrease is an exciting step forward. This partnership will provide the client base, members, and providers of MediNcrease Health Plans, access to a timely and accurate differential diagnosis for complex autoimmune diseases, including Systemic Lupus Erythematosus (SLE),” said Ron Rocca, Exagen’s President and CEO. “SLE is a complex autoimmune disease, and the earlier a diagnosis is reached the better chance a patient has to prevent irreversible organ damage.”
“We are thrilled to welcome Exagen to the MediNcrease provider network,” said Linda Plaster, Managing Partner of MediNcrease Health Plans. “This exciting relationship affirms continued commitment to our specialty lab network expansion and increasing the accessibility of specialized diagnostic testing solutions.”
About Exagen Inc.
Exagen (Nasdaq: XGN) is a leading provider of autoimmune diagnostic, prognostic, and monitoring testing solutions. Exagen is a patient focused, discovery driven organization built on the success of AVISE testing and is investing in its product pipeline to support patients throughout their autoimmune diagnosis and treatment journeys. Exagen’s goal is to assist patients, physicians, and payors by enabling precision medicine. Exagen is located in San Diego County with clinical and research and development laboratories in Vista, CA.
About MediNcrease Health Plans
MediNcrease is a uniquely positioned national provider network and provider advocacy firm servicing the commercial health, workers’ compensation, and auto medical markets. Its advanced provider network and negotiation solutions not only help facilitate millions of dollars in expedited payments to providers each year, but also provide medical payers with dramatically improved savings and service over traditional PPO networks. The result is a 100% defensible and transparent solution for both providers and payers. For more information, please visit the company’s website at http://medincrease.com
Forward Looking Statements
Exagen cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on Exagen’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the expected benefits of the positive medical policy coverage for AVISE tests with MediNcrease, including the availability and expected use of AVISE tests through the MediNcrease network, and any potential for increased use of AVISE laboratory tests. The inclusion of forward-looking statements should not be regarded as a representation by Exagen that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in Exagen’s business, including, without limitation: the COVID-19 pandemic may continue to adversely affect its business, financial condition and results of operations, including as a result of slowdown in its operations as well as those of its suppliers and courier services, impeding patient movement and interruptions to healthcare services causing a decrease in test volumes, disruptions to the supply chain of material needed for its tests causing an increase on cost per test, its sales and commercialization activities and its ability to receive specimens and perform or deliver the results from its tests, delays in reimbursement and coverage decisions from Medicare and third-party payors and in interactions with regulatory authorities, and delays in ongoing and planned clinical trials involving its tests; Exagen’s commercial success depends upon attaining and maintaining significant market acceptance of its testing products and promoted therapeutics among rheumatologists, patients, third-party payors and others in the medical community; Exagen’s ability to successfully execute on its business strategies; third party payors not providing coverage and adequate reimbursement for Exagen’s testing products or promoted therapeutics, including Exagen’s ability to collect funds due; expectations regarding its pipeline products, including the development of the AVISE RADR platform; Exagen’s ability to obtain and maintain intellectual property protection for its testing products; regulatory developments affecting Exagen’s business; and other risks described in Exagen’s prior press releases and Exagen’s filings with the Securities and Exchange Commission (“SEC”), including under the heading “Risk Factors” in Exagen’s Annual Report on Form 10-K for the year ended December 31, 2021 and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Exagen undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Kamal Adawi, Chief Financial Officer
Source: Exagen Inc.