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Iverson Genetic Diagnostics

iversongenetics.com

Founded Year

2006

Stage

Debt - II | Alive

Total Raised

$800K

Last Raised

$20K | 8 yrs ago

About Iverson Genetic Diagnostics

Iverson Genetic Diagnostics offers advanced genetic testing to health care providers to promote early disease detection and to help physicians achieve optimal dosing of critical medications. The company develops genetic tests that aims to become the model for disease detection and informed treatment, ushering in a new era of predictive, preventative and affordable health care.

Headquarters Location

401 Terry Avenue North

Seattle, Washington, 98109,

United States

206-946-6000

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Expert Collections containing Iverson Genetic Diagnostics

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Iverson Genetic Diagnostics is included in 1 Expert Collection, including Omics.

O

Omics

1,267 items

Companies involved in the capture, sequencing, and/or analysis of genomic, transcriptomic, proteomic, and/or metabolomic data

Iverson Genetic Diagnostics Patents

Iverson Genetic Diagnostics has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

11/9/2007

3/13/2012

Neurotoxins, Ion channels, Ion channel toxins, Tetraodontidae, Serotonin receptor agonists

Grant

Application Date

11/9/2007

Grant Date

3/13/2012

Title

Related Topics

Neurotoxins, Ion channels, Ion channel toxins, Tetraodontidae, Serotonin receptor agonists

Status

Grant

Latest Iverson Genetic Diagnostics News

Cardiology practice pays $2.5M to settle genetic test kickback case

Jun 20, 2019

Author Dive Brief: A Las Vegas cardiology practice has settled a case alleging it received kickbacks from genetic testing companies in return for patient referrals, the latest amid increasing scrutiny of improper billing of Medicare for genetic testing. Nevada Heart & Vascular Center allegedly referred patients to Natural Molecular Testing and Iverson Genetic Diagnostics for money over a nine-month period across 2012 and 2013. To settle the case, NHVC has agreed to pay $2.5 million without admitting to liability. Dive Insight: The U.S. government alleges NHVC violated the Anti-Kickback Statute and the civil False Claims Act by referring patients to the two testing laboratories from September 2012 to May 2013 in return for payments. Officials at HHS, FBI and other government departments investigated the case, which overlaps with others brought by U.S. officials. One of the diagnostic laboratories, Natural Molecular Testing, was previously found to owe Medicare $71 million. The laboratory allegedly paid doctors who ordered its tests as much as $10,000 a month in consulting fees. CMS suspended payments to Natural Molecular Testing in April 2013, toward the end of the period in which NHVC allegedly received kickbacks. Natural Molecular Testing filed for bankruptcy shortly after the cessation of Medicare payments. Iverson Genetic Diagnostics filed for bankruptcy two years later. The cases are part of an uptick in cases involving improper billing for genetic tests. In 2019 alone, GenomeDx Biosciences has agreed to pay $2 million to settle allegations it billed Medicare for medically unnecessary prostate cancer tests; the Center for Human Genetics reached a $500,000 overbilling settlement and a man received a 50-month prison sentence for submitting fraudulent test claims. The case that led to the prison sentence highlights how some are bypassing physicians and going straight to patients for samples they can use to justify Medicare claims. Earlier this month, the Office of Inspector General highlighted such practices, noting “scammers are offering Medicare beneficiaries cheek swabs for genetic testing to obtain their Medicare information for identity theft or fraudulent billing purposes.” People running these schemes often target senior-living communities and low-income neighborhoods and enlist the support of a testing laboratory to make the Medicare claims.

Iverson Genetic Diagnostics Web Traffic

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Iverson Genetic Diagnostics Frequently Asked Questions (FAQ)

  • When was Iverson Genetic Diagnostics founded?

    Iverson Genetic Diagnostics was founded in 2006.

  • Where is Iverson Genetic Diagnostics's headquarters?

    Iverson Genetic Diagnostics's headquarters is located at 401 Terry Avenue North, Seattle.

  • What is Iverson Genetic Diagnostics's latest funding round?

    Iverson Genetic Diagnostics's latest funding round is Debt - II.

  • How much did Iverson Genetic Diagnostics raise?

    Iverson Genetic Diagnostics raised a total of $800K.

  • Who are Iverson Genetic Diagnostics's competitors?

    Competitors of Iverson Genetic Diagnostics include c-LEcta, Bloomage BioTech, NGM Biopharmaceuticals, Nuveta, Albireo Pharmaceutical and 12 more.

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