COVID-19 relief legislation that lets providers in some cases set their own prices for COVID diagnostic tests has resulted in exorbitant charges that can reach as high as $14,750. In a new study that drew on 182,000 claims for tests provided by independent laboratories and outpatient hospital settings, investigators found that providers billed insurers $144 on average for COVID-19 diagnostic tests with prices ranging from one cent all the way up to $14,750. In contrast, Medicare’s rate is $51. Read more here.
(Source: Modern Healthcare, September 16, 2020)