Quarterly Investor Update - Q4 23 Test Volumes Reach New Record
Pacific Edge has today released its Fourth Quarter Investor Update showing test volumes processed in its laboratories in Q4 23 increased to 8,878 tests, a 14% rise on the 7,768 tests in the prior quarter (Q3 23).
The tests processed in Q4 23 is a new record and represents a 42% increase on the 6,242 tests processed in the same quarter of the prior year (Q4 22). The result brings total volumes for FY 23 to 31,566 – a 37% increase on the 23,086 tests in the prior financial year (FY 22).
US volumes led the growth rising to 7,817 in Q4 23, an 18% increase on the 6,629 tests in Q3 23. The figure also represents a 48% increase on the 5,290 tests processed in Q4 22. The result brings US test volumes for FY 23 to 27,218, an increase of 44% on the 18,864 in FY 22.
The number of unique ordering clinicians in the US has continued to grow through the quarter to 1,151 at the end of Q4 23, up 6% on the 1,081 ordering in Q3 23 and up 46% on the 789 clinicians who ordered tests in Q4 221.
Asia Pacific volumes in Q4 23 were 1,061, down 7% on the 1,139 tests processed in Q3 23, but up 11% on the 952 tests processed in Q4 22. Total APAC volumes for FY 23 were 4,348, a 3% increase on the 4,222 tests processed in FY 22. The volume trends in APAC reflect the maturity of the New Zealand market and the region’s ongoing healthcare reforms.
The update details how Cxbladder Triage, Pacific Edge’s test to assist clinicians to safely de-intensify hematuria evaluation in populations with a low incidence of bladder cancer, has gained Medicare coverage. It also provides the latest updates on the Kaiser Permanente EMR integration, the proposed LCD from Novitas and other important contextual information for shareholders.
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