SECAUCUS, N.J., Sept. 22, 2017 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, responded today to the Centers for Medicare and Medicaid Services (CMS) publication of proposed 2018 Medicare reimbursement rates for clinical laboratory tests under the Clinical Lab Fee Schedule (CLFS) pursuant to Protecting Access to Medicare Act (PAMA) announced September 22, 2017.
"We are deeply disappointed that CMS has issued draft 2018 Medicare payment rates that are not market-based and derived from flawed market data collection that excluded key components of the lab market," said Steve Rusckowski, Chairman, President and CEO of Quest Diagnostics. "For example, hospitals and physician office labs comprise half of Medicare CLFS volume and lab spending, but only accounted for 8.5% of the reported lab volume used by CMS to calculate the rates. These draft rates are counter to the intent of Congress and will likely cause significant negative impacts to Medicare beneficiary access to lab services. These rates should not be finalized, and I fully support the American Clinical Laboratory Association's plan to explore all available options, including the courts if necessary, to ensure that patients have access to the services we provide."
About Quest Diagnostics
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 43,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com.
50th Anniversary: In 2017, Quest Diagnostics celebrates 50 years of life-changing results. To learn about our legacy of accomplishments and quest to improve healthcare in the future, visit www.QuestDiagnostics.com/50Years
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SOURCE Quest Diagnostics
Denny Moynihan, Quest Diagnostics (Media): 973-520-2800 | Shawn Bevec, Quest Diagnostics (Investors): 973-520-2900