Cytyc is up on this following news. There seems to be a momentum building up here, maybe cytyc can keep this going.
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Thursday February 13 11:45 AM EDT
Blue Cross Blue Shield of Massachusetts Approves Coverage For the ThinPrep Pap Test
BOSTON, Feb. 13 /PRNewswire/ -- Blue Cross Blue Shield of Massachusetts announced today that it has approved coverage for CYTYC Corp ThinPrep(R) Pap Test(TM) for cervical cancer screening. The unanimous decision, based upon a technical review by the Medical Policy Group, concluded that the increased effectiveness of the ThinPrep Pap Test will lead to improved cervical cancer detection for its members.
Blue Cross Blue Shield of Massachusetts provides health care coverage for approximately 1.8 million people throughout the state. The company is New England's largest provider of managed care and traditional benefits, products and services to business organizations and individual customers, to health care providers and to federal, state and local governments.
"Providing a more effective Pap test to our female members is a fundamental part of our continuing commitment to women's health care," said Anne L. Meneghetti, M.D., associate medical director, Blue Cross Blue Shield. "Following a careful comparison of ThinPrep to existing cervical cancer screening technology, we've decided that the ThinPrep Pap Test clearly represents a better choice for our members."
"This decision by Blue Cross Blue Shield of Massachusetts is an indication of the enthusiasm and momentum that is building for conversion to the ThinPrep Pap Test," said Patrick J. Sullivan, president and chief executive officer, Cytyc Corporation. "We continue to encourage rigorous review of the documented performance of the ThinPrep Pap Test compared to the conventional Pap smear and look forward to more and more positive results from this process."
With the conventional Pap smear, the physician manually smears cervical cells onto a microscope slide. With the ThinPrep Pap Test, the physician collects the cervical cell sample in the traditional manner, but rather than smearing the cervical sample onto a slide, the collection device is rinsed in a vial of preservative solution. The patient specimen is then sent to a laboratory where the ThinPrep instrument disperses and filters the specimen to reduce blood, mucus and inflammation and applies a thin, even layer of the cervical cells to a microscope slide.
The ThinPrep Pap Test was cleared by the U.S. Food and Drug Administration (FDA) in May of 1996 as a replacement for the conventional method of Pap smear preparation. In November 1996, the FDA approved Cytyc's claim that the ThinPrep Pap Test is significantly more effective than the Pap smear, improving detection of low-grade and more severe lesions by 65 percent for screening populations. The ThinPrep even improved the detection of low-grade and more severe lesions in hospital populations by six percent.
Cytyc Corporation develops, manufactures and markets the ThinPrep System for medical diagnostic applications. The ThinPrep System consists of the ThinPrep 2000 Processor and related reagents, filters and other supplies. Cytyc Corporation has marketed ThinPrep since 1991 for use in the diagnosis of cancers including lung, bladder and gastrointestinal tract and in the preparation of fine needle aspirations of thyroid and breast. Cytyc's headquarters, research, development and manufacturing facilities are located in Boxborough, Mass.
Securities and Exchange Commission Information:
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, risks associated with the Company's dependence on a single product, uncertainty of market acceptance, and limited number of customers, as well as risks of downturns in economic conditions generally, and in the healthcare industry specifically, risks associated with competition and competitive pricing pressures, and other risks detailed in the Company's filings with the Securities and Exchange Commission. SOURCE Blue Cross Blue Shield of Massachusetts |
