MedTech Dive January 4, 2024
The decline was driven by lower volumes across most types of tests, including genetic and COVID-19 tests.
Dive Brief:
- Medicare Part B spending on lab tests decreased year over year by 10% in 2022 to $8.4 billion, according to a report released in December by the Department of Health & Human Services’ Office of Inspector General.
- The pullback in spending was largely driven by changes in the volume of tests, as payment rates for individual tests did not change between 2021 and 2022, according to the report.
- Independent labs such as Bio-Reference, Labcorp and Quest Diagnostics receive more than 80% of their Medicare revenues from services paid under Medicare’s Clinical Lab Fee Schedule, TD Cowen analyst Eric...
Today's Sponsors
Today's Sponsor