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COVID Testing Turns Into Financial Windfall For Hospitals And Other Providers

Pamela Valfer, in her home art studio in Pasadena, California. She was tested three times for covid and received a statement saying she might be responsible to pay $125 per test despite a ban on out-of-pocket costs. (Heidi de Mrco/KHN)
Because there are no caps on cost, consumers and insurers often get billed hundreds of dollars for the most reliable PCR test. Prices are rising and they can’t fight back.
Pamela Valfer needed multiple COVID-19 tests after repeatedly visiting the hospital last fall to see her mother, who was being treated for cancer. Beds there were filling with COVID patients. Valfer heard the tests would be free. ....

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COVID Testing a Windfall for Hospitals, Labs, and Others

COVID Testing a Windfall for Hospitals, Labs, and Others
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COVID Testing Turns Into Financial Windfall For Hospitals And Other Providers

high prices and pushback from state regulators.
The listed charge for a basic PCR COVID test at Cedars-Sinai Medical Center in Los Angeles is $480. NewYork-Presbyterian Hospital lists $440 as the gross charge as well as the cash price. Those amounts are far above the $159 national average for the diagnostic test, which predominated during the first year of the pandemic, at more than 3,000 hospitals checked by HPS.
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Clinical labs report sharp declines in coronavirus molecular testing

Clinical labs report sharp declines in coronavirus molecular testing
Adam Bonislawski, 360Dx
Modern Healthcare Illustration / Getty Images
NEW YORK – Over the last year, SARS-CoV-2 molecular testing has proved a boon for clinical labs, boosting their bottom lines even as routine testing volumes dropped during the pandemic.
Recent financial reports from large national labs, however, show sharp declines in SARS-CoV-2 testing since the start of the year, indicating that this business is on the wane.
During Labcorp s Q1 2021 earnings call this week, the company said that while it had averaged 112,000 molecular COVID-19 tests per day throughout the quarter, by the end of the quarter it was averaging around 80,000 tests per day. ....

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Quest Diagnostics To Speak At BofA Securities 2021 Virtual Healthcare Conference

Quest Diagnostics To Speak At BofA Securities 2021 Virtual Healthcare Conference
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SECAUCUS, N.J., April 27, 2021 /PRNewswire/ Quest Diagnostics Incorporated (NYSE: DGX), the world s leading provider of diagnostic information services, announced that it is scheduled to speak at the BofA Securities 2021 Virtual Healthcare Conference. Mark Guinan, Executive Vice President & CFO will discuss the company s vision, goals, and capital deployment strategies. The presentation is scheduled for Tuesday, May 11, 2021 at 12:30 p.m. Eastern Time.
The presentation will be webcast live during the conference and will be available on the company s investor relations page which can be accessed at ir.QuestDiagnostics.com. In addition, the archived webcast will be available within 24 hours after the conclusion of the live event and will remain available until June 10, 2021. ....

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