Investment from Blue Cross Blue Shield of Massachusetts subsidiary will strengthen genetic benefits services
St. Petersburg, FL (July 31, 2014) — InformedDNA, a leading provider of Genetic Benefits Management and the largest independent network of genetic specialists in the U.S., announced today that it has reached a $4.5 million funding agreement with Zaffre Investments, a wholly owned subsidiary of Blue Cross Blue Shield of Massachusetts. InformedDNA will use the investment to improve the efficiency and capacity of its genetic benefits utilization management capabilities through the expanded use of information technology. The funding will also help the company manage its rapid growth.
"InformedDNA will be able to serve patients more quickly while improving care quality and preventing waste and excess costs thanks to this investment from one of the nation's most strategic and forward-thinking health plans," said David Nixon, chief executive officer of InformedDNA. "Our genetic testing utilization management solutions were developed by genetics specialists to fill an unmet need for health plans whose current systems and partners lack the specific capabilities necessary to serve patients and collaborate with providers in the emerging field of personalized medicine."
Genetic testing can be a complicated and expensive process for all parties involved. InformedDNA coined the term Genetic Benefits Optimization to reflect its clinically proven and practical approach to genetic benefit management. The process engages genetics specialists throughout the risk assessment and genetic testing process to ensure that patients receive appropriate recommendations for testing and other services, improving access and quality while managing the cost of healthcare.
"The field of genetics continues to grow at a rapid pace and we want to best serve our members in what can be an exciting yet confusing new area of health care," said Jason Robart, President of Zaffre Investments. "InformedDNA's unique blend of provider and technology services will help us ensure physicians and patients receive the support they need to make informed medical decisions about genetic testing."
InformedDNA brings the promise of personalized health care to life by helping individuals and health care providers better understand family health history and genetics. InformedDNA is the authority on the appropriate use of genetic testing — leveraging the expertise from the largest network of independent genetic specialists to help ensure health plans, hospitals, employers, community clinicians and patients all have access to the highest quality genetic services. InformedDNA's key offerings include clinical genetic counseling, genetic testing utilization management, and personalized hereditary risk assessment and prevention solutions. www.informeddna.com
About Zaffre Investments
Zaffre Investments, a wholly-owned subsidiary of Blue Cross Blue Shield of Massachusetts, is committed to adding value for consumers through new products, services, and technologies to improve the health care industry. Blue Cross Blue Shield of Massachusetts is a community-focused, tax-paying, not-for-profit health plan headquartered in Boston. We are committed to working with others in a spirit of shared responsibility to make quality health care affordable. Consistent with our corporate promise to always put our 2.8 million members first, we are rated among the nation's best health plans for member satisfaction and quality.