This is government at its very worst. And it directly involves millions of Americans currently on Medicare.
“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.”
The Bottom Line? If you’re a Medicare patient and need a CT Scan, save your pennies. The price for such a diagnostic test runs around $4,500 and your government has decided to stop paying for such tests.
For many, a matter of life or death. Without this life saving technology, those of us who are retired will be subjected to our doctor’s “best guess” when it comes to the diagnosis of an ailment. In the case of cancer, for instance, the early detection – enhanced by advanced medical technology – will be reserved for those who have the ability to pay, rather than need for the more expensive tests.
This is the very ugly portrait of healthcare in America. And it will only get worse.