Yes, BIOCHIPS is a Scrabble word!

Letter values in Scrabble US: B 3, I 1, O 1, C 3, H 4, I 1, P 3, S 1.

Is it a valid word?

BIOCHIPS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a microchip that uses tiny strands of DNA to latch onto and quickly recognize thousands of genes at a time; intended for use in a biological environment