Biodesix Announces Four Presentations of Health Economic Data Highlighting Cost Saving Potential of Nodify Lung® Testing
BOULDER, Colo.—(BUSINESS WIRE)—May 25, 2023— Biodesix, Inc. (Nasdaq: BDSX), a leading data-driven diagnostic solutions company with a focus in lung disease, presented original data in four separate poster presentations at the ISPOR (International Society for Pharmaceutical and Outcomes Research) conference, providing evidence of the health economic benefits of the Nodify CDT® and Nodify XL2® tests in the management of pulmonary nodules. The posters, presented May 8-9, 2023, highlighted potential cost savings in both Medicare and commercially insured patient populations with use of the tests.
The analyses estimated cost savings in a hypothetical population of 1 million patients in a US Medicare or commercial payer setting over a 2-year time horizon. The results predicted that plans would save $600,000 to $3.9 million with use of the tests in the treatment pathways for managing pulmonary nodules.
The two posters assessing budget impact of the Nodify XL2 test, titled “Budget Impact of a Blood-Based Integrated Classifier Test to Reclassify Risk of Pulmonary Nodules in a US Commercial Payer Setting” and “Budget Impact of a Blood-Based Integrated Classifier Test to Down Classify Risk of Pulmonary Nodules in a US Medicare Payer Setting,” highlighted the cost-savings to payers by incorporating Nodify XL2 use, with cost-savings largely attributed to the ability of the test to reduce invasive procedures on benign nodules. Prior studies have shown that work up of benign nodules make up the majority of costs of pulmonary nodule management.
The two posters assessing budget impact of the Nodify CDT test, titled "Budget Impact of a Blood-Based Auto-Antibody Test to Up-Classify Risk of Pulmonary Nodules in a US Commercial Payer Setting" and "Budget Impact of a Blood-Based Auto-Antibody Test to Up-Classify Risk of Pulmonary Nodules in a US Medicare Payer Setting," focused on the ability of the test to support earlier diagnosis of lung cancer leading to an increase in stage I diagnoses and improved patient outcomes. At earlier stages, patients are eligible for potentially curative surgical resection with a lower cost profile compared to standard of care therapies for advanced stage lung cancer.
"These data presented at ISPOR solidifies the transformative potential of our Nodify CDT and Nodify XL2 tests," said Scott Hutton, CEO of Biodesix. "Establishing the healthcare cost savings that result from broad use of the tests is an important step to showcasing the utility of the tests throughout the healthcare ecosystem. Our commitment is to pursue innovations that transform patient care while bringing economic balance to the healthcare system."
Biodesix is a leading data-driven diagnostic solutions company with a focus in lung disease. The Company develops diagnostic tests addressing important clinical questions by combining multi-omics through the power of artificial intelligence. Biodesix offers five Medicare-covered tests for patients with lung diseases. The blood based Nodify Lung® nodule risk assessment testing strategy, consisting of the Nodify XL2® and the Nodify CDT® tests, evaluates the risk of malignancy in pulmonary nodules, enabling physicians to better triage patients to the most appropriate course of action. The blood based IQLung™ strategy for lung cancer patients integrates the GeneStrat® targeted ddPCR™ test, the GeneStrat NGS™ test and the VeriStrat® test to support treatment decisions across all stages of lung cancer with results in an average of two to three business days, expediting time to treatment. Biodesix also leverages the proprietary and advanced Diagnostic Cortex® AI (Artificial Intelligence) platform, to collaborate with many of the world’s leading biotechnology and pharmaceutical companies to solve complex diagnostic challenges in lung disease. For more information about Biodesix, visit biodesix.com.
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Source: Biodesix, Inc.