The federal government said GenomeDx billed Medicare for its Decipher Biopsy prostate cancer genome classifier on behalf of patients who didn't need the test.
The deal ends an investigation by the SEC into certain accounting practices by Alere's foreign subsidiaries. The company also consented to a cease-and-desist order.
With data analytics and more specific billing codes, the government has improved its ability to identify medically unnecessary genetic testing and other fraudulent activity.
The preliminary approval is the penultimate step to bringing to a close a class action lawsuit accusing Celera of making false and misleading statements about its finances.
