Invitae introduces new patient pay program to make genetic testing more affordable, accessible

Invitae Corporation (NYSE: NVTA), a genetic information company, announced today the launch of its new patient pay price for its full menu of genetic tests at $475 per indication. This new price covers all of Invitae’s offerings in cancer, cardiology, neurology, pediatric genetics, hematology and other rare conditions. It is exclusively for patients who register online, pay up front for genetic services themselves and whose clinician has ordered the testing online. This new, more affordable price is intended to help Invitae serve more patients, including those who do not meet coverage policies for testing, those with high-deductible plans and those not covered by insurance.

For example, this new pricing program provides an affordable test for women who previously tested negative for BRCA 1 and 2 and now want to consider testing for additional high risk genes for whom insurance may not cover a second test. The test must be requested by the patient’s clinician, which is consistent with one of the company’s core principles of involving medical professionals in the ordering and interpreting of tests.

“Most of the conversations about reimbursement for genetic testing have focused on economic issues. However, an under-appreciated dimension in using genetic testing for genetic care is an ethical one. For years, many people and their families have not had the benefit of clearly indicated genetic testing due to unwillingness of third-party payers to pay the historically high cost,” said Robert Nussbaum, M.D., Invitae’s incoming chief medical officer and currently the chief of the Division of Genomic Medicine at UCSF Health. “Now that the genetics market is becoming a generic market—and thanks to the ongoing innovations and cost reductions in sample preparation, sequencing and medical interpretation—we are beginning to see the benefits translated into affordable testing for patients.”

Invitae has also introduced a new price for institutional customers and third-party payers. For those with whom Invitae has contracts and who bring Invitae in network, the price per indication is $950. For third-party payers with whom Invitae is out of network and non-contracted institutions, the price per indication remains $1,500. “One of our goals is to make genetic testing more affordable and accessible to billions of people, and this new pricing strategy enables us to leverage the progress we’ve made and convert that into savings for patients and the healthcare system,” said Randy Scott, chief executive officer of Invitae. “The new patient pay program reflects our ability to bring affordable genetic testing to the masses in a medically responsible way. We believe we are well positioned to be one of the leaders in multiple markets, at multiple price points, serving a multibillion-dollar industry.”

Data Presentation at ASCO

This announcement coincides with a poster presentation at ASCO in which Invitae collaborated with two major medical centers on a clinical utility study to demonstrate the clinical utility of expanded gene testing for hereditary breast and ovarian cancer (Abstract 1513).