The company said it completed 82,000 Cologuard tests during the quarter, a 114 percent growth in test volume during the three-month period.
Several MDx firms recently touted BCBS's Evidence Street opinions on their tests as milestones, and Palmetto GBA's MolDx may soon be using its assessments.
Inclusion in the program would mark an important step in the company's quest to make Cologuard a standard of care for colon cancer screening.
Executives from Luminex and Exact Sciences provided updates on their companies at the 35th Annual JP Morgan Healthcare Conference in San Francisco.
The company also reported it completed 244,000 Cologuard tests during 2016, a 134 percent increase from 2015.
After a five-year pilot, only one company has successfully taken a test through parallel review, but there is growing industry interest.
The stool-based test was approved by US regulators in 2014 and included as an A-rated service in the US Preventive Services Task Force's colorectal cancer screening guidelines earlier this year.
The company attributed the uptick in revenues to a 100 percent increase in the number of Cologuard colon cancer tests it completed during the quarter.
The colon cancer test is now available through Tricare for 9.4 million active duty, reserve, and National Guard personnel, as well as veterans and their dependents.
The move follows the inclusion of Cologuard in the US Preventive Services Task Force's updated colorectal cancer screening recommendations.