Cancer Genetics Appoints Randy Goodman, Ph.D., as Director of Reimbursement and Clinical Revenue Cycle Management

By Italia on February 11 2015

RUTHERFORD, NJ, February 11, 2015 (Globe Newswire) – Cancer Genetics, Inc. (Nasdaq: CGIX; “CGI” or “the Company”), an emerging leader in DNA-based cancer diagnostics, announced today the appointment of Randy Goodman, Ph.D., as Director of Reimbursement and Clinical Revenue Cycle Management. Goodman is a nationally recognized expert in value-based reimbursement and brings more than 20 years of experience from both the public and private sector in the field of health economics and healthcare policy to CGI. Goodman will be responsible for reimbursement, managed care, payer access and revenue cycle management.

“The importance of optimizing revenue cycle management has become crucial in an environment where changing policies dictate reimbursement rate and influence laboratory practices,” said Panna Sharma, CEO of Cancer Genetics. “Randy’s experience will be an asset for CGI in working with major payors, and in improving access for patients and payers to CGI’s best-in-class precision diagnostics.”

Goodman has vast experience in reimbursement strategy, and has directed pricing, international reimbursement, and market strategies for a variety of global and U.S. healthcare and device companies. Prior to joining CGI, Goodman served as project director for health economics, reimbursement strategy, and health care policy at Precision for Medicine.  From 2009 to 2011, Goodman served as senior director of global health economics and reimbursement strategy at ImpediMed, Inc. While there, he was responsible for the development and implementation of the organization’s global health economic and reimbursement policies.  Prior to his time at ImpediMed, Goodman was the director of health economics, policy, and reimbursement for Access MediQuip, LLC, where he developed a new platform for acquiring and managing surgical and implantable devices.

Goodman also brings tremendous expertise in public healthcare economics and policy. Goodman served as a health care reform policy consultant to the White House Office on Health Reform, and was a policy consultant to Presidents Clinton and Obama. He has developed recommendations adopted in Medicare, Medicaid, managed-care payer, and long-term health care reforms, and brings a comprehensive understanding of new payment methodologies mandated by the Affordable Care Act of 2010.

“I am very excited to be part of a growth organization dedicated to advancing personalized medicine and cancer treatment,” said Goodman. “This specific role offers me the opportunity to help improve patient outcomes, reduce the cost of cancer treatment, and help CGI grow into a global molecular diagnostics organization. As payment and health economic models continue to evolve, there exists an opportunity for CGI to play an important leadership role in how we deliver and account for personalized cancer diagnostics in the years to come.”

Goodman holds a master’s degree in healthcare administration from Harvard University and received his Ph.D. in Healthcare Administration and Policy from Harvard University’s School of Public Health.

About Cancer Genetics

Cancer Genetics, Inc. is an emerging leader in DNA-based cancer diagnostics, servicing some of the most prestigious medical institutions in the world. Our tests target cancers that are difficult to diagnose and predict treatment outcomes. These cancers include hematological, urogenital and HPV-associated cancers. We also offer a comprehensive range of non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals, as well as biopharma and biotech companies. Our state-of-the-art reference labs are focused entirely on maintaining clinical excellence and are both CLIA certified and CAP accredited and have licensure from several states including New York State. We have established strong research collaborations with major cancer centers such as Memorial Sloan-Kettering, The Cleveland Clinic, Mayo Clinic and the National Cancer Institute.

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Forward Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements pertaining to future financial and/or operating results, future growth in research, technology, clinical development and potential opportunities for Cancer Genetics, Inc. products and services, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to, statements that contain words such as “will,” “believes,” “plans,” “anticipates,” “expects,” “estimates”) should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, risks of cancellation of customer contracts or discontinuance of trials, risks that the transaction will not close or, if it closes, will not realize the currently anticipated benefits, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, maintenance of intellectual property rights and other risks discussed in the Company’s Form 10-K for the year ended December 31, 2013 and 10-Q for the quarter ended September 30, 2014 along with other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Cancer Genetics disclaims any obligation to update these forward-looking statements.


Media Relations
Alison Burchett
Cancer Genetics, Inc.

Investor Relations
Hans Vitzthum
LifeSci Advisors, LLC.