Genetic Technologies Limited (GENE) announced that, through its wholly-owned subsidiary Phenogen Sciences Inc., it has executed an agreement with MultiPlan Inc. of Valencia, California USA, to use the MultiPlan Network, a national complementary network.
MultiPlan created the complementary network concept in 1980, recognizing the emerging trend toward multi-sited workforces and a growing mobility of health plan participants. In excess of 4,800 hospitals, 99,000 ancillary facilities and 700,000 healthcare professionals participate in the network across the entire United States. Approximately 39 million lives access the network.
The company stated that the agreement with Multiplan is the sixth such credentialing agreement executed between the Company and similar US Preferred Provider Organisations and increases significantly the total number of covered lives, for which its BREVAGen risk assessment test could be adjudicated as "in-network," to more than 62 million.
The positive impact of this credentialing activity has been clearly demonstrated in reviewing reimbursement payments received in respect of the BREVAGen test since its launch. As reported by the Company in its March 2013 Quarterly Activities Report, the average reimbursement received in respect of claims that were adjudicated as "in-network," was more than 25% higher than the amounts received in respect of claims that were adjudicated as "out of network," with the time taken to collect the funds also being materially shorter.
The company stated that Credentialing contracts have now been executed between the Company and MultiPlan Network, Three Rivers Provider Network, Prime Health Services, National Preferred Provider Network / PlanCare America / Ohio Preferred Provider Network LLC (NPPN / OPPN), Galaxy Health Network and Fortified Provider Network.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.