HCPCS code may have been a factor in the increase.
With COVID hitting the U.S. hard over the last few years, it shouldn’t come as a surprise that the feds saw the biggest increase of Medicare Part B lab spending since they started tracking data in 2014.
Context: On Dec. 19, 2022, the HHS Office of Inspector General (OIG) released the report, “Medicare Part B Spending on Lab Tests Increased in 2021, Driven By Higher Volume of COVID-19 Tests, Genetic Tests, and Chemistry Tests.” From 2020 to 2021, Part B lab test spending skyrocketed from...
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