Yeah, no shocker there. Medicare is cutting back on reimbursement for some forms of medical imaging, and assorted parties of the medical imaging industry (GE Healthcare being a major player) are a bit peeved. They’re arguing that the cuts affect long-term public health, and that the move will end up costing more in the long run. Matthew Perrone of the AP elaborates…
The cuts took effect in January and reduce how much doctors are paid for running X-rays, medical resonance imaging and other tests on patients enrolled in the government-run health program for seniors. The Medicare payment changes, which are expected to save $2.8 billion over five years, sent sales of scanners made by GE, Siemens AG, Toshiba Corp. and others tumbling more than 20 percent last quarter, according to data provided by an industry group.
Opponents argue that if fewer doctors offer in-office imaging, patients will have to travel further and wait longer for medical scans that detect cancer, heart disease and other ailments.
“When you see legislation like this that retards and restricts the availability of diagnostics, it’s just a bad long-term decision that can negatively affect people’s health,” said Joe Hogan, president of GE’s health care business.
Medicare officials say they are monitoring whether patients are having trouble getting access to imaging. And they point out that payment reductions do not affect hospitals, where the majority of imaging services are performed.
Ah…the joys of having your market dictated to you by the federal budget…
More from the Memphis Commercial Appeal (running the AP story)…