NEW YORK, July 8, 2020 /PRNewswire/ -- Renalytix AI
plc (LSE: RENX), an artificial intelligence-enabled in
vitro diagnostics company, focused on optimizing clinical
management of kidney disease to drive improved patient
outcomes and lower healthcare costs, today announced that it has
signed an agreement to become a provider in the America's Choice
Provider Network (ACPN).
ACPN contracts directly with healthcare providers of all types
and specialties to establish simple and reliable healthcare access
and reimbursement arrangements. It is one of the largest preferred
provider networks in the United
States with members and providers in all 50 states and
agreements with over 1,700 payers. Under the agreement, RenalytixAI
will now be able to offer KidneyIntelX testing to
diabetic kidney disease patients among ACPN's more than 30 million
members in the U.S.
This is an important step in RenalytixAI's strategy to put in
place the necessary framework in order to secure broad insurance
network coverage and, in turn, adoption of KidneyIntelX
ahead of its planned roll-out to additional health systems.
"ACPN is very excited to announce our new relationship with
RenalytixAI. We are pleased to offer their first of its kind
KidneyIntelX test to help guide chronic kidney disease care
delivery," said Todd Breeden, CEO of
ACPN. "CKD is a significant challenge faced by our network of
providers, payers and members. This test is uniquely positioned to
potentially improve care and outcomes and reduce healthcare
spending. Our partnership with RenalytixAI shows ACPN's commitment
to add progressive, cutting edge companies to our national provider
network."
"We appreciate the opportunity to become one of ACPN's preferred
providers. Their network aligns well with the new health systems
targeted for our planned roll-out of KidneyIntelX and we
believe it will support accelerated commercial adoption of our
test," said Thomas McLain, President
and Chief Commercial Officer of RenalytixAI. "Being an ACPN
provider demonstrates the value of KidneyIntelX testing to both
clinicians and regional payers and assures access across the ACPN
members served by these health systems. We look at this as a true
partnership as we at RenalytixAI share ACPN's commitment to offer
the highest quality of healthcare to their members."
About Kidney Disease
Kidney disease is now recognized
as a public health epidemic affecting over 850 million people
globally. The Centers for Disease Control and Prevention ("CDC")
estimates that 15% of US adults, or 37 million people, currently
have CKD. Further, the CDC reports that 9 out of 10 adults with CKD
do not know they have it and 1 out of 2 people with very low kidney
function who are not on dialysis do not know they have CKD*. Kidney
disease is referred to as a "silent killer" because it often has no
symptoms and can go undetected until a very advanced stage. Each
year kidney disease results in more deaths than breast or prostate
cancer. Every day, 13 patients in the
United States die while waiting for a kidney transplant.
*
https://www.cdc.gov/kidneydisease/publications-resources/2019-national-facts.html
About America's Choice Provider Network
ACPN is an
independent, multi-specialty provider network accessed by over
1,700 payers that has developed a proprietary network and
technology for the purpose of achieving consistency in healthcare
transactions, simplifying claims adjudication processes, creating
reasonable reimbursement arrangements and establishing reliable
healthcare access for all parties; providers, payers and patients.
More than 24 million Americans and 750,000 international lives have
access to ACPN's network through a client base consisting of
Insurance Carriers, Third Party Administrators, Health and Welfare
Funds, Employer Groups and Self-Insured Health Plans. For more
information, please contact ACPN's COO, Seth Breeden, at sethbreeden@acpnusa.com or
visit www.acpnusa.com.
About RenalytixAI
RenalytixAI is a developer of
artificial intelligence-enabled clinical in
vitro diagnostic solutions for kidney disease, one of the most
common and costly chronic medical conditions globally.
RenalytixAI's products are being designed to make significant
improvements in kidney disease diagnosis, transplant management,
clinical care, patient stratification for drug clinical trials, and
drug target discovery. For more information,
visit www.renalytixai.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that are not historical
facts, and in some cases can be identified by terms such as "may,"
"will," "could," "expects," "plans," "anticipates," and "believes."
These statements include, but are not limited to, statements
regarding the roll-out and adoption of KidneyIntelX and the
potential benefits of being a provider in ACPN. Any
forward-looking statements are based on management's current views
and assumptions and involve risks and uncertainties that could
cause actual results, performance or events to differ materially
from those expressed or implied in such statements. All information
in this press release is as of the date of the release, and
RenalytixAI undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events, or otherwise, except as required by law.
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SOURCE RenalytixAI