MDxHealth (R): SelectMDx Included in Dutch DRG Reimbursement System
NEWS RELEASE
Further progress of strategy to expand market for SelectMDx®
IRVINE, CA, and HERSTAL, BELGIUM - 07:00 CEST, April 20, 2018 - MDxHealth SA ("MDxHealth, or the "Company"), (Euronext: MDXH.BR), a world leader in molecular diagnostics for urological cancers, today announced the inclusion of SelectMDx for Prostate Cancer, its non-invasive 'liquid biopsy' test that helps to identify patients at increased risk of having aggressive prostate cancer, in the Dutch Diagnosis Related Groups (DRG) reimbursement system.
The DRG reimbursement system was introduced in the Netherlands in 2005. It specifies the reimbursable amounts for 30,000 different treatments and is regulated by the Dutch Healthcare Authority (NZA). Diagnosing and treatment of prostate cancer are also reimbursed under the DRG-system. The SelectMDx test may be used under the DRG-system. Reimbursement amounts are directly negotiated between the healthcare insurers and the healthcare providers. Several Dutch hospitals have already incorporated the SelectMDx test in their prostate cancer diagnostic workflow.
Dr. Jan Groen, Chief Executive Officer of MDxHealth, commented: "This is a positive development for MDxHealth and serves as an important step in our strategy to increase the adoption and acceptance of our SelectMDx CE marked test in Europe among urologists and payors. We believe that in light of the ageing male population in the US and Europe, the use of SelectMDx in active monitoring and primary care settings could quadruple the market opportunity for SelectMDx in the mid-term to more than 4 million patients annually in the US and Europe. With the EAU guidelines inclusion for SelectMDx announced last month, we look forward to providing further updates on our progress in European markets."
About SelectMDx
SelectMDx for Prostate Cancer is a proprietary urine based, molecular diagnostic test that offers a non-invasive 'liquid biopsy' method to assess a man's risk for prostate cancer. SelectMDx helps identify men at increased risk of harbouring aggressive, potentially lethal, prostate cancer who may benefit most from a prostate biopsy and earlier detection. The test helps to reduce the need for MRI procedures and invasive prostate biopsies by up to 50%, thereby reducing healthcare costs and improving quality of life.
SelectMDx is available in the US and all EU member states. Since the introduction of the SelectMDx test in mid-2016, over 20,000 patients have been tested and 15 commercial contracts have been signed with US based insurance companies. The test has been included in the 2018 European Association of Urology (EAU) clinical guidelines.