ACTG Blog
New Cancer Treatments to be Covered by Insurance
As genomic technologies, AI, and big data are advancing everyday, as well as the intense competition among biomedical companies, the difficult and painful impression associated with traditional cancer treatment has been reversed by the new cancer treatments. These new treatments, such as using genomic profiling for precision medicine, new targeted therapies, immunotherapies, and monitoring drug resistance, are able to improve the quality of life and increase survival rates. However, an unfortunate problem is that these new treatments are being developed too fast and have not yet had time to be included in the current insurance coverage, so cancer patients may need to pay at their own expense while they wait for these treatments to be included in their insurance policy.
Pay Attention to Insurance Details
Cancer genomic profiling has become a necessity in precision medicine, owing to its ability to review treatment efficacy more accurately, and it is also a wise to make an informed selection of a rewarding treatment. However, an insurance policy may not keep up with the recent progress in the medical field, and cancer patients need to pay attention to their insurance details to ensure the new treatment is being covered.
Genomic Profiling is Being Welcomed By Insurance Companies
Cancer genomic profiling has matured enough to now successfully assist cancer treatment by identifying accurate diagnosis and appropriate treatment. Meanwhile, private insurance has begun to cover cancer genomic profiling. NGS cancer genomic profiling assists in cancer diagnosis by sequencing hundreds of genes, but it is not easy to find complete insurance coverage. Nevertheless, cancer patients can use their private insurance to select the right genomic profiling for precision medicine. However, cancer patients still need to pay attention to the following items:
1. Is cancer genomic profiling included in the following items of your insurance?
a. Pay-as-you-go medical insurance:
Payment for medical service received after hospitalization could be reimbursed with insurance claim settlement.
b. Insurance for cancer treatment appointments:
Payment for Medical practices such as diagnosis, treatment, or biopsy sample collection could be reimbursed with insurance claim settlement.
For example, ACT Genomics' NGS genomic profiling services range from $1,000 to $3,000, and from a hospital with whom ACT Genomics has an affiliation, you can get a receipt for insurance purposes; and for a hospital with whom ACT Genomics does not have an affiliation, you will need to ask your insurance company whether a receipt from ACT Genomics can be used for your insurance claim.
2. Is cancer genomic profiling included under hospital, surgery, or appointments?
Cancer patients need to discuss with their insurance company and physician whether genomic profiling can be covered under hospital, surgery, or appointment. Additionally, if a patient initially does not communicate with their physician about their interest in precision medicine, their biopsy will be used for the regular pathogenic tests, and the tumor sample leftover may not be sufficient by the time the patient communicates their wishes to do precision medicine in the future. This is why it is essential to discuss with physician at your earliest convenience about the possibility of undergoing precision medicine.
High-quality Cancer Genomic Profiling Covered By Insurance
As the Taiwanese government and insurance industry move towards adopting precision medicine, the credibility of genomic profiling is increasing to ensure an efficient use of medical resources. The rapid and diversified development of genomic profiling can meet the needs of precision medicine, and Taiwan is now developing a new standard of Laboratory Developed Tests and Services, LDTs, to ensure the continued enhancement of clinical laboratory services and technical innovation in high-quality genomic profiling. With such development in progress, reviewing the coverage of your insurance is important.
ACT Genomics & Insurance Information
ACT Genomics has a CAP-accredited laboratory, and the high-quality cancer genomic profiling service is currently awaiting USFDA approval. We are now applying for LDTS accreditation to assist more cancer patients receive the best possible medical treatment.
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ACT Genomics cooperates with Taiwan Life Insurance Co., Ltd.
Taiwan Life Insurance – New cancer insurance :
https://www.taiwanlife.com/customer_service_enhance_item/2/18
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ACT Genomics cooperates with Nan Shan Life Insurance Co., Ltd.
Nan Shan Life Insurance all clients :
https://www.nanshanlife.com.tw/public_promotion/event/2020gene/index.html
Economy Daily News :
https://money.udn.com/money/story/5613/489881
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ACT Genomics cooperates with AIA Hong Kong