Lucid Diagnostics Executes Contract to Provide EsoGuard® Esophageal Precancer Testing as a Covered Benefit for 9/11 Responders and Survivors
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Insights
The integration of EsoGuard testing into the World Trade Center Health Program (WTCHP) is a significant development for Lucid Diagnostics Inc. From a medical research perspective, this decision underscores the clinical value of early detection in cancer prevention. Esophageal cancer, often associated with gastroesophageal reflux disease (GERD), has historically had poor outcomes due to late diagnosis. EsoGuard, as a non-invasive DNA test, represents an advancement in the detection of esophageal precancerous conditions.
By covering the cost of EsoGuard for its participants, WTCHP is not only acknowledging the increased risk of cancer among 9/11 responders and survivors but also adopting a proactive approach to healthcare. This could set a precedent for other health programs to follow, potentially leading to broader market adoption of such diagnostic tests. The reimbursement rate of $2,475.81 per test also indicates the economic value placed on early detection and could influence pricing strategies in the diagnostics industry.
From a financial standpoint, Lucid Diagnostics' contract with WTCHP represents a substantial opportunity to increase revenue. With over 120,000 participants in the program, even a fraction opting for the EsoGuard test could lead to a significant boost in sales. This is particularly relevant considering that nearly 35,000 participants have been diagnosed with GERD, making them prime candidates for the test.
Investors should monitor the uptake rate of EsoGuard among WTCHP participants, as it will provide insights into both the short-term revenue impact and the long-term viability of Lucid's business model. Additionally, this contract may serve as a catalyst for further contracts with similar health programs, thereby diversifying Lucid's revenue streams and potentially enhancing shareholder value.
The decision to include EsoGuard as a covered benefit in the WTCHP could have broader implications for healthcare policy. It reflects a growing recognition of the importance of preventive care in managing long-term health costs, especially for high-risk populations. By investing in early detection, programs like WTCHP may reduce the financial burden of treating advanced-stage diseases, which are often more costly and less responsive to treatment.
This move may encourage policymakers to reevaluate coverage for preventive diagnostics in other high-risk groups and could lead to more comprehensive healthcare policies that prioritize early intervention. It also highlights the role of direct contracting initiatives in driving healthcare innovation and access, which could become a more prominent strategy for diagnostic companies seeking to expand their market presence.
The World Trade Center Health Program will now cover the cost of EsoGuard testing for its more than 120,000 participants
"We are grateful for the opportunity to provide EsoGuard esophageal precancer testing to those affected by the devastating 9/11 terrorist attacks," said Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer. "As a result of their exposure to dust, smoke, and debris, these heroes are at increased risk of developing cancer, just as firefighters are in general. In fact, nearly 35,000 have already been certified as suffering from gastroesophageal reflux disease (GERD), and therefore are at increased risk of developing esophageal cancer. Lucid remains deeply committed to expanding patient access to EsoGuard testing, with the ultimate goal of preventing esophageal cancer and cancer deaths. We look forward to offering EsoGuard testing to WTCHP participants through dedicated #CheckYourFoodTube Precancer Testing events in the
About Lucid Diagnostics
Lucid Diagnostics Inc. is a commercial-stage medical diagnostics company focused on cancer prevention, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck Esophageal Cell Collection Device, is the first and only commercially available diagnostic test capable of serving as a widespread screening tool for at-risk patients to mitigate the risks of cancer and cancer deaths through early detection of esophageal precancer.
For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com.
Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid's clinical and preclinical studies; whether and when Lucid's products are cleared by regulatory authorities; market acceptance of Lucid's products once cleared and commercialized; Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, Lucid continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid's future operations, see Part I, Item 1A, "Risk Factors," in Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report. Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
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SOURCE Lucid Diagnostics
FAQ
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