Theranos, a digital health startup that develops novel approaches for laboratory diagnostic tests using blood has inked a long-term partnership with Capital BlueCross – Central Pennsylvania’s largest health insurer. The partnership will showcase the impact of Theranos’ services around lowering the cost of care in areas where costs for medical diagnostic testing are high due to the lack of availability of health care resources in Central Pennsylvania.
Theranos, which received clearance of its lab technology from the FDA last week, is the first lab to publish all of its pricing, and all of its tests are at least 50 percent below the Medicare reimbursement rate. Theranos will make available its full menu of tests in Central Pennsylvania – from full fertility panels ($35) to simple cholesterol tests ($2.99). In addition to its pricing, Theranos delivers unparalleled transparency around the quality of its testing. As it develops new testing services, the company has committed to submit all of its laboratory-developed tests to FDA for review and approval, and is the only lab to publish and update test proficiency data and customer satisfaction metrics on its website.
Theranos has already performed millions of tests since its launch and continues to provide full service labs and testing throughout Arizona and Palo Alto, California. Capital BlueCross reviewed the accuracy and quality of Theranos’ systems, technology, science, processes and overall performance over several years.
“Our partnership with Capital BlueCross is centered on a common mission – to provide access to high-quality, affordable health care, so that people everywhere can own their health and take action to live their best lives. Capital BlueCross’ commitment to its members to deliver the most innovative advances in care should be applauded,” said Elizabeth Holmes, Theranos’ Founder and CEO. “We are proud to bring our laboratory testing services to the communities they serve and proud to partner with a company so dedicated to driving innovation and reducing costs throughout the health care system,” said Holmes in an official statement.
In Pennsylvania, Theranos testing will be available at Capital BlueCross health and wellness stores, and a network of Theranos Wellness Centers across the region.