Why Quest Diagnostics Holdings Stock Dropped Today
The government thinks it's been overpaying Quest Diagnostics. They plan to stop doing that next year.
Overview
Medical testing giant Quest Diagnostics (NYSE: DGX) stock slipped 5.1% through 11:30 a.m. Tuesday, after the Centers for Medicare & Medicaid Services (CMS) disclosed Monday that they've been paying about 16% more for lab work than private insurers pay.
No longer.
Details
Effective Jan. 1, 2027, CMS says it will cut reimbursement rates for lab costs by up to 15%.
Source
Originally published at www.fool.com.
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