HARRISBURG – Theranos, Inc. and Capital BlueCross – Central Pennsylvania’s largest health insurer – announced a long-term partnership today to introduce Theranos’ revolutionary technology and laboratory services across the region to Capital BlueCross members. The companies have been working together for the last several years to form a strategic partnership in which Theranos’ low-cost, high quality laboratory services will be introduced to Central Pennsylvania. The companies also intend to showcase the impact of Theranos’ services around lowering the cost of care in areas where costs for medical diagnostic testing are high due to the lack of availability of health care resources
“Our partnership with Capital BlueCross is centered on a common mission – to provide access to high-quality, affordable health care, so that people everywhere can own their health and take action to live their best lives. Capital BlueCross’ commitment to its members to deliver the most innovative advances in care should be applauded,” said Elizabeth Holmes, Theranos’ Founder and CEO. “We are proud to bring our laboratory testing services to the communities they serve and proud to partner with a company so dedicated to driving innovation and reducing costs throughout the health care system,” said Holmes.
Theranos, which received clearance of its lab technology from the FDA last week, is the first lab to publish all of its pricing, and all of its tests are at least 50 percent below the Medicare reimbursement rate. Theranos will make available its full menu of tests in Central Pennsylvania – from full fertility panels ($35) to simple cholesterol tests ($2.99). In addition to its pricing, Theranos delivers unparalleled transparency around the quality of its testing. As it develops new testing services, the company has committed to submit all of its laboratory-developed tests to FDA for review and approval, and is the only lab to publish and update test proficiency data and customer satisfaction metrics on its website.
Theranos has already performed millions of tests since its launch and continues to provide full service labs and testing throughout Arizona and Palo Alto, California. Capital BlueCross reviewed the accuracy and quality of Theranos' systems, technology, science, processes and overall performance over several years.
“As an insurance company, it is important for us to partner with companies that have the commitment not only to the highest standards, but also to constant innovation. We found Theranos to be the best lab for our members – they’ve been able to implement their unmatched technology and processes to provide access to accurate, convenient, and low-cost lab testing services.” said Gary D. St. Hilaire, president & CEO of Capital BlueCross. “FDA’s favorable review of Theranos testing systems last week affirmed what we already know - that their technology meets the highest quality standards and we’re proud to bring it to our community.”
St. Hilaire added that Theranos' commitment to transparency – in pricing and in quality – is a beacon for the industry. "It reflects tremendous integrity within the company. There are simply no surprises," he said. "Our members will have easy access to best quality and most convenient testing and will know up front how much their out of pocket payments may be, including precise deductibles. As an insurance provider, it is important for us to partner with companies who are using innovation to address and solve the toughest problems in health care.”
In Pennsylvania, Theranos testing will be available at Capital BlueCross health and wellness stores, and a network of Theranos Wellness Centers across the region.
Headquartered in Palo Alto, Theranos, Inc. is a consumer health care technology company. Theranos’ clinical laboratory offers comprehensive laboratory tests from samples as small as a few drops of blood at unprecedented low prices. Theranos Wellness Centers also are designed for convenience, remaining open on nights and weekends and providing results to lab testing very quickly – often within the same day. Founded in 2003 by Elizabeth Holmes, Theranos’ mission is to make actionable health information accessible to people everywhere in the world at the time it matters most, enabling early detection and intervention of disease, and empowering individuals with information to live the lives they want to live. Visit us at theranos.com. Follow us at @theranos.
About Capital BlueCross
Capital BlueCross, headquartered in Harrisburg, Pa., is the leading health solutions and insurance company in central Pennsylvania and the Lehigh Valley. For more than 75 years, Capital BlueCross has offered products that provide peace of mind and promote good health. Today, the company and its family of diversified businesses offer a comprehensive portfolio of solutions including innovative value-based models, private exchanges, leading-edge analytics and digital health technologies, ancillary benefits, and training programs. Additionally, Capital BlueCross is growing a network of Capital Blue retail stores that provide in-person service and inspiration to live healthy. Capital BlueCross is an independent licensee of the BlueCross BlueShield Association. For more information, visit capbluecross.com.