StockNews.AI
LUCD
StockNews.AI
159 days

Lucid Diagnostics Secures First Positive Commercial Insurance Coverage Policy for its EsoGuard® Esophageal DNA Test

1. Highmark Blue Cross Blue Shield covers Lucid's EsoGuard® test in New York. 2. The coverage policy validates Lucid's clinical evidence base for cancer detection. 3. Lucid is engaged with insurers to expand access to its tests nationally. 4. The decision aims to drive other insurers' positive coverage policies. 5. Lucid focuses on early detection in patients at risk of esophageal cancer.

7m saved
Insight
Article

FAQ

Why Bullish?

Positive insurance coverage can significantly increase demand for Lucid’s services, similar to other diagnostics companies that saw stock price increases after similar policy announcements.

How important is it?

The article highlights a significant policy change that could drive revenue growth, capturing market interest.

Why Short Term?

Increased coverage could boost revenue prospects quickly as more patients gain access to testing.

Related Companies

PAVMABMDLMT
Regional Blue Cross Blue Shield plan will cover non-invasive screening of esophageal precancer and cancer , /PRNewswire/ -- Lucid Diagnostics Inc. (Nasdaq: LUCD) ("Lucid" or the "Company"), a commercial-stage, cancer prevention medical diagnostics company and subsidiary of PAVmed Inc. (Nasdaq: PAVM), today announced that Highmark Blue Cross Blue Shield, an independent licensee of the Blue Cross and Blue Shield Association, has issued a positive coverage policy for non-invasive screening of esophageal precancer and cancer in New York state. The new policy will cover Lucid's EsoGuard® Esophageal DNA Test in patients who meet established criteria for esophageal precancer testing consistent with professional society guidelines. "This positive policy coverage decision by a commercial insurer is a landmark event for Lucid," said Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer. "We believe that this decision will serve as a precedent to drive positive policy coverage decisions from other commercial insurers and further validates the strength of our clinical evidence base. We remain deeply engaged with commercial insurers across the country as we seek to expand access to EsoGuard precancer testing." About Lucid Diagnostics Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck® Esophageal Cell Collection Device, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients. For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com. Forward-Looking Statements This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid's clinical and preclinical studies; whether and when Lucid's products are cleared by regulatory authorities; market acceptance of Lucid's products once cleared and commercialized; Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, Lucid continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid's future operations, see Part I, Item 1A, "Risk Factors," in Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report.  Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. SOURCE Lucid Diagnostics WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News