Deck: Increases in denials from insurers, uncollectible patient balances, and reimbursement pressures negatively affected company revenues.
The lab analytics service provides insurers with guidance aimed at helping them achieve improvements in quality performance metrics.
The company said its molecular collection systems products saw the highest revenue growth during the quarter as product revenues rose 6 percent overall.
Qiagen's partnership and merger agreement with NeuMoDx may help it compete with high-volume molecular testing vendors such as Abbott, Hologic, and Roche.
With the patented Dual Path Platform as its foundation, Chembio is expanding its commercial and manufacturing capabilities, its CEO said.
Several companies will receive grants to develop hepatitis C molecular point-of-care and core antigen diagnostic assays.
The company's revenue growth resulted from acquisitions, but Quest faced headwinds from PAMA pricing and reductions in hepatitis C genotyping and vitamin D testing.
The new assay simultaneously detects four viral targets in donated blood plasma in a single sample and can add value to the biologics development space.
The companies will initially plan to acquire the required regulatory approvals in India for the Genedrive HCV ID kit.
The test is performed on the company's AmpiProbe platform, and the approval expands Enzo's offering of infectious disease tests in New York.