Medicare Has Stopped Paying Bills For Medical Diagnostic Tests. Patients Will Feel The EffectsSubmitted by meekandmild on Wed, 03/27/2013 - 12:56
The Obama Administration has stopped paying the bills from hundreds of health care companies, and it has nothing to do with sequestration.
This is a story of bureaucratic mismanagement at the Centers for Medicare and Medicaid Services, and the harm it’s visiting on the diagnostic testing industry.
At issue is the way that Medicare reimburses everyone from the big laboratory companies such as the Laboratory Corp of America (LH:NYSE) and Quest Diagnostics Inc. (DGX:NYSE), to the molecular diagnostic labs inside academic hospitals, and especially smaller firms that make proprietary tests used by doctors to more effectively target treatments to patients with conditions like cancer.