Veritas Sets Price for WGS and Interpretation at $599; Implications for the Future

The price for whole genome sequencing continues to cascade downward -- Veritas Genetics recently announced a new price of $599 including analysis of test results for 200 conditions (see:Veritas Genetics Drops Its Price for Clinical-Grade Whole-Genome Sequencing to $599, as Gene Sequencing Costs Continue to Fall). Below is an excerpt from the article:By announcing an annotated whole-genome sequencing (WGS) service to consumers for just $599, Veritas Genetics is establishing a new price benchmark for medical laboratories and gene testing companies. Prior to this announcement in July, Veritas priced its standardmyGenome service at $999....Pathologists and clinical laboratory managers will want to watch to see if Veritas ’ low-priced, $599 whole-genome sequencing becomes a pricing standard for the genetic testing industry.Meanwhile, the new price includes not only the sequencing, but also an expert analysis of test results that includes information on more than 200 conditions, Veritas says.“The focus in our industry is shifting from the cost of sequencing genomes to interpretation capabilities and that’s where our secret sauce is,” said Veritas CEO Mirza Cifric in a news release....The company also says it “achieved this milestone primarily by deploying internally-developed machine learning and AI [artificial intelligence] tools as well as external tools—including Google’sDeepVariant—and by improving its in-house lab operations.”.... ....Kathryn Phil...
Source: Lab Soft News - Category: Laboratory Medicine Authors: Tags: AI Clinical Lab Testing Diagnostics Genomic Testing Healthcare Information Technology Healthcare Innovations Lab Industry Trends Medical Consumerism Medical Research Pharmaceutical Industry Preventive Medicine Test Kits and Home Test Source Type: blogs