Nov 6, 2014, 12:00
by
Michael Croft
By Clinical Informatics News Staff
November 6, 2014 | Foundation Medicine highlighted several recent industry wins
yesterday including a data partnership that it hopes will further prove the
business case for the company’s two cancer diagnostic panels: FoundationOne for
solid tumors and FoundationOne Heme for blood cancers.
Analysts at Goldman Sachs called the third quarter results in-line
with expectations, and said that the commercial developments connected to
reimbursements and partnerships, “underscore[d] our positive view on FMI’s
strategic plan and management execution.” They continued, “We remain of the
view that NGS-based tumor profiling will soon become a standard of care for
advanced cancer patients.”
The company announced yesterday that Google
has agreed to cover the tests for “all employees and their families
navigating cancer treatments” starting in 2015. Google’s support is significant;
the company is committing to the offering the tests for about 47,000 employees
and their families. And Google Ventures was one of Foundation Medicine’s earliest
three supporters, so the additional buy-in is a nice vote of support.
But the more significant commercial stamp of approval was last
month’s announcement that Michigan-based insurer Priority
Health would cover both of the company’s tests for its 600,000 or so
covered patients.
More announcements like this one would be a great boon for
the company. “We would view future news of additional private payer
reimbursement as a key positive for the story,” said Goldman Sachs analysts.
Another newly announced partnership may help. Foundation
Medicine yesterday announced a data partnership with Cancer Outcomes Tracking
and Analysis (COTA). COTA is a cloud-based platform for oncologists to share
data with physicians, patients, and payers. Foundation Medicine and COTA reached an
agreement to track clinical outcomes and cost data for patients who have been
tested with FoundationOne.
The partnership will start with New Jersey patients covered
by Horizon Blue Cross Blue Shield who are newly diagnosed with stage IV adenocarcinoma
of the lung and have taken a FoundationOne test. The FoundationOne data will be
combined with clinical cost and electronic medical record data that COTA
collects to provide a longitudinal portrait of care.
The result, Foundation Medicine hopes, will be a data-based
case study proving the test’s utility and cost-effectiveness, ideally convincing more
payers to set policies of coverage.
The
resulting dataset is designed to provide healthcare providers and payers with
the supporting clinical outcomes and costs evidence that inform value-based
reimbursement decisions and cancer treatment, the company said. “The
combination of genomic data, clinical information, outcomes data and economic
data will provide critical insights for both payers and physicians to fully
endorse the clinical and economic benefits associated with the application of
comprehensive genomic profiling in this disease setting.