UnitedHealthcare announced that it will no longer cover multi-panel genetic tests for behavioral health diagnoses, effective January 1, 2025. This policy change includes specific tests like 0345U for GeneSight.
The company's decision is based on its assessment that these tests are unproven and not medically necessary. This move is expected to have a notable financial impact on Myriad Genetics, the provider of GeneSight.
Myriad Genetics is projected to experience an annual revenue impact of approximately $40 million and a gross profit impact of about $30 million due to this change in coverage policy.
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