GE Healthcare Presents at 2013 BIO International Convention on Role of Precision Diagnostics and Reimbursement Policy

Chief Executive Officer for Medical Diagnostics Pascale Witz Serves on Industry Panel

GE Healthcare Presents at 2013 BIO International Convention on Role of Precision Diagnostics and Reimbursement Policy

<0> GE HealthcareAleisia Gibson609-514-6046 (office)201-289-3832 (mobile)orScott Lerman609-514-6346 (office)609-937-9253 (mobile) </0>

Pascale Witz, President and CEO, GE Healthcare, Medical Diagnostics is serving on an industry panel at the 2013 BIO International Convention in Chicago, IL and will discuss how precision diagnostics are enabling providers to deliver the right treatment to the right patient at the right time. During her talk, Witz notes that while new drugs and targeted treatment have advanced the personalized medicine field considerably, the development of powerful diagnostics are required, and it is critical to have incentive for innovation in this field.

“Precision diagnostics are the new frontier and have a critical role to play in accelerating the transition from mass-market medicine to an era in which the needs of the individual are paramount,” said Witz. “But as we seek to enable providers to deliver the right treatment to the right patient at the right time, we stand at a crossroads. The current model of how these diagnostics are reimbursed must be addressed so that it works for payers, providers, clinicians and most importantly for patients who require access to life-saving treatment.”

Witz’s talk will focus specifically on using GE’s scale to deliver precision diagnostics to millions of patients, such that they might experience better health outcomes. She will also provide an overview of the reimbursement challenges associated with precision diagnostics, noting that the process for determining new payment levels for molecular diagnostics is in flux. There must be more process transparency, and the costs, clinical utility and overall value of the diagnostics should be taken into account.

"We need to develop reimbursement models that value precision diagnostics according to the benefits it brings,” said Witz.

GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE (NYSE: GE) works on things that matter - great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions, GE Healthcare helps medical professionals deliver great healthcare to their patients.

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