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PAMA
Quest Q2 revenues drop 4% on lower COVID-19 test demand
The firm said that for the quarter ended June 30, its base diagnostics business revenues rose 3% year-over-year to $2.1 billion from $2.04 billion. However, Quest's Q2 COVID-19 testing revenues dropped 31% year over year to $355 million from $511 million.
July 20, 2022
ACLA praises bill to maintain lab services for seniors
The legislation was penned to offset the 2014 Protecting Access to Medicare Act (PAMA), which has led to significant cuts to payments for routine laboratory tests that guide clinical decision-making.
June 22, 2022
Rusckowski to step down as CEO of Quest Diagnostics
Rusckowski has served as CEO of Quest for more than a decade. Rusckowski will continue to serve on the Quest board of directors as executive chair through March 2023. The transition will be effective November 1, 2022.
February 2, 2022
COVID-19 tests drove increase in Medicare spending in 2020
The HHS Office of Inspector General (OIG) found that total Medicare Part B spending has increased each year for the past five years. COVID-19 tests accounted for approximately 19% of total Medicare Part B spending on lab tests, while utilization of non-COVID-19 tests as a group decreased 15.9% from 2019. Spending on lab tests other than for COVID-19 in 2020 was the lowest it had been in the past five years (no other year prior to the pandemic had a decrease).
January 3, 2022
Natera nabs ADLT status
The test can monitor treatment and is able to detect cancer recurrence up to two years before conventional imaging, according to the firm.
June 20, 2021
CMS delays data reporting for labs
Per the Protecting Access to Medicare Act (PAMA) of 2014, labs are required to report a range of data points for clinical diagnostic laboratory tests that are not advanced assays, including Healthcare Common Procedure Coding System (HCPCS) codes, associated private payor rates, and volume data.
January 16, 2020
Congress skips surprise billing, passes LAB Act
Per the LAB Act data reporting requirements on payments for lab services associated with the Protecting Access to Medicare Act of 2014 (PAMA) will be delayed for one year. Furthermore, an independent study will be commissioned on data collection and rate setting for lab services.
December 22, 2019
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