- bioAffinity Technologies (BIAF, Financial) reduces the data acquisition time of its CyPath® Lung test by 50%.
- Sample processing costs decreased by 60%, resulting in a 25% reduction in unit costs.
- Potential healthcare savings of $379 million for Medicare and $895 million for private insurers.
bioAffinity Technologies (BIAF) has announced major operational improvements to its CyPath® Lung cancer detection test, significantly increasing its efficiency and reducing costs. The enhancements include a 50% reduction in data acquisition time and a 60% decrease in the cost of sample processing. These changes are expected to lead to a 10% increase in overall throughput and a 25% reduction in unit costs, thus enhancing the test's commercial viability.
CyPath® Lung utilizes flow cytometry and artificial intelligence to detect lung cancer in patient sputum samples, boasting impressive clinical performance metrics with 92% sensitivity, 87% specificity, and 88% accuracy in high-risk patients. A recent economic impact study projects potential savings of $2,773 per Medicare patient and $6,460 per privately insured patient, amounting to nationwide savings of $379 million and $895 million, respectively, if integrated into the standard care protocol.
These improvements were made without altering the fundamental test protocol, underscoring bioAffinity Technologies’ commitment to maintaining high performance standards while addressing operational inefficiencies. This strategic enhancement not only strengthens the value proposition of CyPath® Lung, but also aligns with value-based care models by reducing unnecessary follow-up procedures and associated healthcare costs.
