today. joining for Thank call and update Thank good you, Dennis, everyone. quarterly you afternoon, our
couple a of proceeding, things. Before
throat. feeling weather. bit of I a First, I'd have bit a a of like I'm scratchy as pause to
about sorry So that.
long-term singularly and shareholder on massive like support also potential for commercial its Hopefully is the you to And to ongoing our long-term value. enhance know driving focused Lucid I'd towards team our enterprise your thank and commitment. shareholders our
multiple with $XX fronts made during progress of with long-standing including sheet shareholders. and from So the start financing that year, the the this about pleased Lucid quarter million excellent balance I'm fourth on has fundamental very our strengthening
revenue solid out-of-network and saw pricing. test improving allowances We volume, on stable growth stable
Our is excited are drive robust coverage believe direct utility to about events positive clinical accelerating fair now And and of particularly the CYFT coverage. driving and is validity based our poised what clinical sight medical evidence line program I'm at to medicare contracting initiatives. health also I are
then company of just of So let a I'll me overview those -- few and a for just new. are who the quick offer highlights, do you
just side, traction, through now a health High-volume quarter talk hair about XXX% execution over were commercial X,XXX was That's those trends XX% July. gain events more up right fully we're and bit $X fourth test booked continue the a revenues fair to annually. I'll million. the tests. and On EsoGuard volume testing later. CYFT quarterly
We strategic which EsoGuard health at and engagements programs include with have have And entities. active testing systems, dozen more. accounts, now several over we other a centers dozen related academic
and payments, for continues the XX% now $X,XXX. adjudicated loud of cycle are management to back deliver revenue stable process about claims out-of-network coming results Our averaging with payments solid about
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accomplishments. strategic Some key
the clinical -- little As We've later. medical a or a EsoGuard for policy reengaging had broad I million to mentioned, our the with support expansion of including balance talk our I'll side, about at we Medicare clinical $XX.X preferred stock with significant CV restrengthened which sheet MolDX our coverage, bit data financing. engaging or validity CU utility
value. and that negative seen now excellent predictive document X sensitivity clinical We've EsoGuard validity studies
medical policy first last months meetings. major time, now couple directors now studies positive for payers have near clinical commercial we're for over We've meetings with starting We with now decision-making. to data, determination of physician EsoGuard. concordance the X that of Using the perfect hold document utility that to formally held request medical
for Similar held And of medical that was EsoGuard as to Blue and to Shield attended of our contractually program launched then advocate webinar Blue Cross to finally, later. this guaranteed We've revenues. offered contracting more America directors drive by dozens a those coverage. efforts, talk bit with direct this EsoGuard a a now about we means a benefit Association we'll as
esophageal Just in a focused Lucid cancer on at-risk for few intro are patients. company. targeted We're medical to commercial those company of update on stage who pre-cancer you to detection our prevention, overall. a diagnostics slides you cancer prevent deaths newer early is
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these screening the The EsoGuard only of through and is that's serving to pre-cancer. the commercially prevent deaths early esophageal DNA detection test tool widespread first test esophageal of as available capable
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bit mentioned, we as the EsoGuard have now to that comparing particularly and here. validity EsoGuard's remains solid other Guardant. does This pre-cancer clinical that we and of Cologuard So of sensitivity have is a with space, performance. blood a is and for slide the blue at sensitivity. standards it -- really in I the summary sort colorectal data documents we performance high Cancer sensitivity with see pre-cancer tests, in early test extremely new as
really those note, unprecedented. X I'll numbers, And are
a the at XX% There range. again, other no molecular is numbers can is other now diagnostic test space, notably, our early that XX% pre-cancer you also that holding to pre-cancer most can unprecedented. So to have and that compare sensitivity, in tests claim in
overall increases and so detect XX% early in rate That other of sensitivity lesser much value pre-cancer X negative value which XX%, X level. X% predictive with yield an endoscopies just of than tests, estimated positive molecular can no false predictive of Again, negative the and an results between tests any XX%, fold.
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each of original preprint. heading manuscript published, see foundation, on performance the towards X and is study we coming the in BE-X studies, we this are preprint the validity, VA. the here. study, again, One Clinical and is Again, publication. now summarizing through which Cleveland completed study. Just of for can performance have assay soon, is X is the of detail Western posting won't I documenting have BETRNet go the absolute the X slides paper, backbone this is the And but you our Case a future for submission the here, data. that
the X that engagements again, and are payers, commercial side, payers studies published Next the of slide. and with -- our had foundation the we near Similarly, in peer-review the in on Medicare. term clinical literature now form, with utility
is which as fantastic. are market slide. There absolutely who pre-cancer It's opportunity massive. non-endoscopic testing risk, include Next XX EsoGuard. for really here at guidelines, recommended are The testing, million biomarker by patients existing are such now
We have Medicare established at payment $X,XXX.
billion matching are noted, opportunity. quite our And so payments pricing $X,XXX results $XX closely I total addressable is that As out-of-network that market approximately about at true an in holding. that
is gross XX% Our margin current at our volumes.
efficiency. of levels current our at So
Next slide.
multipronged. And our is commercial strategy
to wherever we can. access our -- is provide goal patients patients So
go physical patient our physicians' scheduled A we access own centers. the test where major test have satellite a So test and days backbone, patients our on Lucid their practitioners pathway centers is in offices. offices to for Lucid
EsoGuard staff. specialists, We and perform their also about have the accounts GI test physician using total own other who XX% practices for of our That practices, particularly volume.
In little Florida, are And anniversary we well. into van testing lot, which a to test in the pitch about the CheckYourFoodTube at park have past we'll bit have over and expanding as a have fair X-year the We've on other type initially can focused a events practices, a Lucid events, our parking reached these year. spot. health areas center, more, that talk health fair our been physician tent as mobile go and offer we
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per with growth. shows to test and slide last the our this progress over the years regard revenue approximately So volume
you growing our second in late to since revenue has cycle transition see provider. revenue So our can been the nicely new quarter management
sort we the think of stabilized. to And second XXXX. X,XXX test volume The late this where quarter of going has likely growth the range. So stabilize approximately to at be things is X,XXX
you I had this about the earlier, I level plus will the sales X,XXX XXXX force. tests to hinted fourth increases in not we And X,XXX or note of minus that growth so since productivity. and been as that have added salespeople remind has any we've with from same quarter
this no to on have expand our continue we force However, sales we until to progress some point at side. reimbursement see the plans
expectation. our that's So
to our In meeting. X national weren't that testing, had weeks between sales we where X were X the we -- and quarter, for week fourth holidays able do
we estimated close. quarter that's that for to will potentially and And over show quarters. the these coming hold feel pretty number modest growth just about I the an indicate so comfortable volumes we'll did
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bit execution. detection our a CheckYourFoodTube, The fair remain type a health activity. dive little event pre-cancer commercial deeper our on our significant So contributor to
right we've have heavily these see firefighters there, had focused our been growth. you in over As we on San now event a year the just had steady since on can first ago Antonio,
now, firefighters. we're booked a we we fully these some July. the Right really entities, rate is the pipeline, through clinical particularly personnel We number limiting very have from events, and of run have factor our to demand and great have strong
really, initial last conferences. during targeted to in conference we holding We're by partner, of just perhaps health so with the champion tested firefighter we're expanding physician discussions firefighter And launch importantly, jump bullet and the We at one a an several conference identify national our we our have the events as We planning longer initiating events, now at parallel had most the partner. capacity utilizing ground. and event. these UpScript, in firehouses local the other now just the event increasing beyond for get no on contracting -- chiefs we're for fair off to now actually telehealth with our symposium.
We're their telehealth here, is efficiency the and of events spot Texas chiefs dozen to can and started these get inaugural testing
strongly that the motivated to And are we leaders found engage.
that with something with moving they're and our to to a cancer the prevention promising For unions, the on show contracts been regard firefighter that's much, value to motivation And and strong brothers providing on their amongst there's very to they're and to side, on ability encouraging forward. really sisters. offer and engage focused testing example,
the now include large group been have a mentioned accounts, dozen with strategic overall pushing now in last centers. systems, academic a program have such including for the several I esophageal forth. offering team quarter, As we medical accounts. typically and pipeline. context testing, awareness academic testing. medical These our structured over centers health are practices, EsoGuard we've on harder that these big of we in And strategic so And commercial GERD And for multi-location remain dozen cancer are that
the is now us contracting. right next big, the for slide, area On big direct next
a actually VP As last and we Employer getting we call, mentioned now of Markets, We just team. we this. hired are expanding are started in that -- with getting our
next this me is. more give details what So let of a on few just the slide
Next slide.
EsoGuard So drive when talking contracting, we're as revenue. about direct benefit to offering a covered talk guaranteed about we contractually
this path, a coverage get to path work and the to claim and physician being prescribes through, policy a is the for insurance different payment the traditional a insurers submit the and test So we with than traditional work that.
whom fronts. with engaged testing we directly that typically this contract go essentially covered This whom to health our expand team a we benefit to can offer can -- a about with benefit to on that's And and multiple within and bypasses with we is wellness entities program. engage now as
So benefit whole of a the work brokers there's packages country. third-party network offer administrators across to employers to benefit with that
benefit have and subset EsoGuard of now engagement offer EsoGuard as both with within a third-party deep the are that employers are to to offer entities self-insured these administrators And entities. A to these ultimately, that we brokers the providing packages benefit.
or So directly involve members in a entities. who actually separate contract entities first entities are our on-site process.
And directly testing had really shows test candidates CheckYourFoodTube unions employees And their events to We our is similar testing team again with has them, employers these from active then to and we and we've the up similar the we're offers where announced very can Testing as employers go that. members sites benefit subgroups the can our or for such offer to events, proceeded. there. are -- -- for service as employees who previously These testing. other for those of at
residential fund.
And test engage communities Clinical a We of -- who that Excellence, entities, for that particularly patients patients for treatment partners with. had engaged look previously forward parts, are Sinai, like starting we Fund other clerical to Centers the issue announced in within other with to by conditions variety covered their are and Mount of are are to exposure we of that receive was those various who in there the back are the swing. and in a have number a consummating New look X/XX there couple a there contracts then sort one navigate that, where right formally concierge engaged large practices York the medicine to the their with And working the that months and forward area of is now in that has testing Greater That several process back now community, Sun we're to of ago, of of X/XX. offer but benefit again, Belt, in that their are as and We've there. for we're residents, specialized to process, full example, related engaged
with is way flavors. a this are contract. The direct X One -- what we contracting ongoing offer direct really
one basically we So charge of would contracts. of patient per umbrella these under the tested
it's charge per necessarily The a second benefit tested. the for when offer of a in EsoGuard model plan is benefit are not a particularly as It's member, those covered benefit. lifetime and who a context
And certain then for day, and given to screening we a discussions of just to -- are are where a agreement those in we a a of in event handle up up several examples scheduled that's that in charge a half-day certain full patients can also or number accordingly. service
and really deal. a initiative, contributor the test to revenue expect contracting We're quarters. volume do So as meaningful pushing we in coming a be that's hard on well this, direct the as our to this big
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out-of-network Just an to our represents transition management claims claims, our Quadax, submitted in process on and in-network which update payment payments we've pro for of by the a about side. on forma we the provider receive claims $XX million coverage revenue generally management and now on entire pursue cycle submit June, Again, revenue revenue in the that. this we cycle made those represent claims, since submitted new
stable of bit XX% are those allowed. getting an a We're at now, quite now XX% adjudicated percentage increasing are about being adjudicated, that over and are
we claim can patients. and the go or payment $X,XXX, is that So from collect from either actually allowed the those is payers and the and average the -- ultimately allowed
example, appeals. also very optimizing, some and by that entire We're yield there's appeals process. the working And with -- strengthening process We're winning We're hard we're our an for we're providers. and on which XX% Quadax starting to includes, wins. of about leveraging that
providers, part of that to we'll -- medically physicians certain indicate them necessary local cover. an is this for so the the appeal a to get in So in examples, to dozen or submit area payer as local important and the to
the authorization. on of are working of also since denials a XX% a for about for we're first authorization lack And time program prior the prior
So a authorization. streamlined way seek for prior a to incorporating physicians we're
policy but full the the we on advantage both the coverage. So it's collecting course, of big get to question, be that from and now commercial take Medicare. thing is medical to out mean is payers of coverage and generating I to us revenue on need network ultimately for here, one in-network of we're potential
So held month in as the X, policy EsoGuard data medical last payers, or medical positive determination commercial first to recognize, major with of meetings that I now we've you the formally the the hinted based directors time, on for would names for earlier, have. we request
utility secondary don't programs within initiates payer, data and that. those be have Either of our prospects get but will result clinical we then least discussion. to fortunate, goal is we're really good if particular collect a varied in the on will it If and we'll coverage. we Now pilot -- to some engaged immediate at get coverage, get that
guidelines just that a Nick that based directors very We America of excellent be lead adviser last EsoGuard in Blue Dr. who guidelines, week in and Blue the the a really Shield our strong author attendance American Advisory excited, making covered Board, of webinar of on were College Shaheen, of where and an Medical Association lead by presentation, participated the gave argument of Gastroenterology should were our we plan. medical is Cross Head dozens really
that so was a engagement. very And positive
is with we the side, are program, targeting coverage that the local which entity determination. the Medicare finalizes MolDX reengagement On
of that's effect. for within foundational of in utility clinical make category effective and that's are we've to We we believe local to a test construct determination validity -- reengagement. a data local now sufficient the coverage final collected operate And the able clinical that and
that BETRNet that, of meeting will pre-submission happen one point on a publication timing submission. technical studies, at the which meeting, is that assessment on to proceed we validity day expect to key meeting study for The and ask the now, the triggered with Then meeting. and based clinical our of of any a of them we
now determination to line believe convert a of believe what's on data coverage. based very So sufficient the that is LCD completion the into for we we Medicare, now to concrete and Medicare on we coverage do of really what timeline based foundational a have sight
final mandatory that's certain for commercial And focus gives then and biomarker there's that statute, area one area been a of tests, an strong biomarker where legislation a is now in state is over there the opportunity. states us coverage by dozen
slide, Next please.
Next slide.
So opportunity these operate us the in that gives states. to
to we XX occurs. with coverage and to that. to are commercial -- limited X believe in it So feedback under We that are we're these continue we legislation where states legislation covered getting going this biomarker get -- we're legislation, certain hard we're cancer. starting guarantees push states under the including on to states, that are and this -- these Again, mandatory
achieving activities actually of they by the yielding this, that's able we're our states. in commercial whether be And something team work resources, next other those forward quarters. in our on or targeting we're results to to couple And looking
So I'll financials. the update that, our over to an with on hand provide reins Dennis to
take So Dennis, over.
