For Immediate Release
Leverage Health Solutions Announces Relationship Between InformedDNA and
Blue Cross Blue Shield of Massachusetts
July 31, 2014, MT KISCO, NY –– Leverage Health Solutions (LHS) is proud to announce that one of its select portfolio companies, InformedDNA, has received an investment from Zaffre Investments, a wholly owned subsidiary of Blue Cross Blue Shield of Massachusetts (BCBSMA).
InformedDNA (a.k.a. Informed Medical Decisions) offers genetic benefits management empowered by the largest independent provider network of genetic counselors in the U.S. By partnering with InformedDNA, health plans and provider organizations develop expertise in personalized medicine and improve the quality of care delivered to patients while reducing costs associated with inappropriate genetic test requests. Through the use of methods developed and managed by experts in genetics, InformedDNA’s approach has been recognized as a novel and uniquely effective solution in today’s marketplace.
Spending on genetic testing in the U.S. is forecast to rise sharply by 2021, and industry stakeholders are just beginning to understand the cost and quality implications of genomic medicine. Spending on genetic testing is expected to reach as high as $15 billion this year, and is projected to exceed $25 billion by 2021. In a Harris Interactive survey of 1,254 physicians, seventy-four percent of doctors said there are patients in their practice who would benefit from a genetic test. Genetic testing is currently available for about 1,800 conditions, and three to five new tests become available monthly, creating clear need for independent genetic experts who can guide patients through the complexities of understanding family health history, genetics and genetic testing.
“We are honored to partner with InformedDNA and we are enthusiastic about the growth opportunities made possible by this new relationship with Blue Cross Blue Shield of Massachusetts,” says Richard Lungen, Managing Member. “This represents the first in a series of exciting announcements we expect to make over the course of the next year as our market activities develop. Our team is motivated by goals we share with our partners to align healthcare delivery and reimbursement with improved quality outcomes and effectively managed costs.”
InformedDNA’s offerings include a network of genetic counselors available to patients in every state in the U.S., expert geneticists who consult with providers across the country, and InheritedHealth, a direct-to-consumer hereditary risk assessment and prevention solution.
“Blue Cross Blue Shield of Massachusetts is recognized as a national leader for the development and implementation of progressive healthcare policies, and their experience in understanding personalized medicine draws from serving a local community known for world-renowned experts in the field of genetics,” says Marshall Votta, Senior Vice President at LHS. “Given the rate at which research in the area of genomic medicine is advancing, even the most sophisticated provider organizations and health plans acknowledge the need for independent genetics specialists to ensure that new tests and services are appropriately managed. The relationship announced today brings together two leading organizations to collaborate in ensuring that InformedDNA’s services effectively serve this previously unmet need.”
About Leverage Health Solutions – Leverage Health Solutions (LHS) is a team of healthcare industry veterans — business development professionals, strategists, operators and technologists — who have joined forces to identify high-potential companies and accelerate their growth. By providing business, market and corporate development services, LHS builds relationships between innovative companies and their customers. Visit www.leveragehealthsolutions.com.
About InformedDNA – InformedDNA brings the promise of personalized healthcare to life by helping individuals and healthcare providers better understand family health history and genetics. InformedDNA is the authority on the appropriate use of genetic testing – leveraging the expertise from the largest network of independent genetic specialists to help ensure health plans, hospitals, employers, community clinicians and patients all have access to the highest quality genetic services. InformedDNA’s key offerings include clinical genetic counseling, genetic testing utilization management, and personalized hereditary risk assessment and prevention solutions. Visit www.informeddna.com.