Health experts and genetic testing company Genentech say that the cost of a gene test, and the genetic code it generates, are growing faster than people realize.
In fact, the cost per test has tripled over the last decade.
Genetic testing costs vary widely from region to region, from $2,000 to $4,000.
For the first time, Genentec is starting to track the pricing for the most popular tests, like the BRCA1 and BRCI1 genes.
The company is offering to reimburse customers who have to pay for test results.
In order to make these kinds of numbers, Genetech and others have partnered with the Genetic Literacy Project to collect data on the pricing of genetic testing, using online tools like Genentek’s PriceMyBits.
The information is then used to create a price chart.
In a new report, Genestech researchers show that the average American family spends between $2.25 and $6.75 a test and that people who have the highest costs are more likely to be the ones who suffer from health problems.
The cost of testing, according to the report, is higher for people with a genetic test for a cancer, diabetes or high blood pressure than it is for everyone else.
The report also reveals that many Americans who test positive for these diseases end up paying significantly more than their peers.
It’s the “cost of not testing,” said Chris Hwang, vice president of public affairs for Genentes’ Health and Medical Solutions division.
The company is also exploring ways to help people with the most expensive tests avoid the cost.
One of the most interesting ideas is a genetic code that can be linked to specific diseases.
The company says it plans to sell the code to companies in a limited number of markets, including the United Kingdom and Israel.
That’s the first step in a wider push by Genenteca and other genetic testing companies to sell more affordable test kits that could be sold by the hundreds or thousands.
The goal is to make testing affordable to people in underserved communities and help those with serious medical problems pay less for testing, said Michael Siegel, president of Genenteges.
There are a number of reasons for people to be skeptical of the cost and performance of a genetic testing test, said Andrew Ziegler, a genetic counselor and the director of research at the University of Illinois, Chicago.
For example, tests that can predict disease risk based on a person’s DNA are more expensive than other tests, but they are also more accurate and less expensive than tests that rely on DNA sequencing.
Another reason people are skeptical is that the prices of these tests can vary wildly depending on the type of test.
If you have a BRCF2 mutation, for example, you may pay hundreds of dollars for a test that uses a standard sequencing tool to find the mutation.
But if you have an overactive BRCAF gene, the test might cost hundreds of thousands of dollars.
But the cost is not all bad news.
According to Genentefs Health Cost, a company that compiles pricing data from health insurers, many people with genetic testing are saving hundreds of millions of dollars over the course of their lives.
According to a recent study in the journal PLOS Genetics, genetic testing can save people more than $3,500 a year in medical expenses.
And the savings can be even larger if the tests are used for prevention.
“If we have a gene that predisposes to breast cancer, for instance, if you do this, you might be saving about $2 million in the long run, said Dr. David Pasternak, a Harvard Medical School professor and author of the study.”
If you have genetic testing for prostate cancer, it might save you $2 billion over your lifetime.