Sunnyvale, Aug. 12, 2019 (GLOBE NEWSWIRE) -- Arrayit Corporation (OTC: ARYC), a life sciences and personalized medicine company, has been approved by a leading Medicare Administrative Contractor (MAC) on behalf of the Centers for Medicare and Medicaid Services (CMS) as a new allergy testing services healthcare provider for Medicare Part B. Medicare Part B covers medically necessary services that are needed to diagnose or treat medical conditions and which meet accepted standards of medical practice, as well as preventive services that are health care focused to prevent and detect illness at an early stage when treatment is most likely to work best. Physicians are increasingly using Arrayit convenient and non-invasive finger stick testing services to diagnose, treat and manage allergy and asthma and to detect these conditions as early as possible for optimal patient outcomes. Arrayit Medicare Part B approval is for Jurisdiction E covering healthcare services in California, Nevada, Hawaii, America Samoa and the Northern Mariana Islands.
Arrayit recently completed an allergy testing pilot program for a top retail chain, established a nationwide network of 1,700 allergy sales professionals, met with top officials at the United States Food and Drug Administration (FDA) regarding approval of a major product line, fulfilled an FDA clinical instrumentation contract, received approval for in-store promotions by a major retailer, announced allergy testing partnerships with major allergy therapeutics providers, received approval for direct Medicare billing and electronic Medicare reimbursement from the Centers for Medicare and Medicaid Services, launched the Patient Data Solutions allergy portal for doctors and clinics, celebrated 25 years of company operations, announced an allergy testing services agreement with a major health and wellness provider, provided a letter to shareholders from the company’s Chief Executive Officer, received endorsement by First Pediatrics Medical Group, announced in-network allergy testing services contracting with a top five commercial health benefits company, doubled its weekly billing guidance to $2 million per week, appointed an Apple enterprise healthcare partner to accelerate revenues and earnings growth, expanded allergy testing services evaluation with a major retail pharmacy chain, grew its allergy testing healthcare network to more than 700 clinics, retained a top credentialing company to accelerate commercial and government reimbursement, aced five consecutive rounds of proficiency testing with a top proficiency testing leader, signed an in-network allergy testing services agreement with a major California-based health benefits company, received a certificate of deemed status into 2020 from the California Department of Public Health, expanded its clinic network in Hawaii and announced global expansion in the Philippines. Healthcare testing services covered by Medicare Part B will be reported as revenues and earnings in the company’s upcoming audited financial statements.
CEO Rene Schena states, “We are pleased to announce Medicare Part B healthcare provider status, in keeping with our mission of offering the most advanced physician-prescribed allergy testing services to diagnose, manage, treat and prevent allergy and asthma. This is an important step towards improving health and wellness among the 59 million Americans currently receiving Medicare health benefits.”
About Arrayit
Arrayit Corporation, headquartered in Sunnyvale, California, leads and empowers the biotechnology, pharmaceutical, clinical and healthcare sectors through the discovery, development and manufacture of proprietary life science and personalized medicine products and services to advance biomedical research and improve human health and wellness. Please visit www.arrayit.com for more information.
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We have identified forward-looking statements by using words such as "expect", "believe", “would". Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's public filings.
CONTACT
Investor Relations
Arrayit Corporation
Tel: 408-744-1331
Email: arrayit@arrayit.com
Web: www.arrayit.com
Investor Relations
Arrayit Corporation
Tel: 408-744-1331
Email: arrayit@arrayit.com
Web: www.arrayit.com
