MYGN Financially Assists Underinsured - Analyst Blog
17 7월 2013 - 4:00AM
Zacks
Recently, Myriad Genetics
Inc. (MYGN) disclosed a financial assistance program for
underinsured patients. Following the move, it seems like this
molecular diagnostic company has left no stone unturned to improve
adoption rates for its market-leading diagnostic tests.
Per the program, effective Jul 22, Myriad will offer financial
assistance to ensure lower out-of-pocket costs for qualified
uninsured patients. Accordingly, the patients will pay no more than
$375 for Myriad’s expensive diagnostic test line.
The expanded financial support from Myriad applies to the company’s
entire portfolio of diagnostic tests. Patient eligibility depends
upon private insurance, ability to meet insurance’s coverage
criteria for testing and low income requirements (households living
within 200% of the Federal poverty level).
The latest program will extend the company’s financial assistance
program that currently offers free testing for low income uninsured
patients (household income below 200% of the Federal poverty level)
and interest-free tailored payment plans for all patients to
accommodate specific financial situations. To date, over 35,000
patients have gained access to Myriad’s gamut of tests.
Based on Commonwealth Fund's 2012 Biennial Health Insurance Survey,
about 30 million individuals in the U.S. remain uninsured.
Furthermore, 80 million Americans skipped required health care
(doctor’s visit and prescriptions) in 2012 due to cost
constraints.
Considering the significant population of underinsured individuals
in the U.S., Myriad’s financial support to patients is likely to
improve adoption rates for its premium tests. We believe that the
development should augur well for the long-term growth of the
company. Nonetheless, the impact of the patent litigation and
market conversion to its myRisk hereditary cancer test are areas of
concern. Thus, we remain on the sidelines for Myriad.
The stock carries a Zacks Rank #3 (Hold). Other players such as
Cepheid (CPHD), Luminex
Corporation (LMNX) and MAKO Surgical
Corp. (MAKO) appear impressive. These stocks carry a Zacks
Rank #2 (Buy).
CEPHEID INC (CPHD): Free Stock Analysis Report
LUMINEX CORP (LMNX): Free Stock Analysis Report
MAKO SURGICAL (MAKO): Free Stock Analysis Report
MYRIAD GENETICS (MYGN): Free Stock Analysis Report
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