News Headlines Article

Medical test makers win higher rates from feds, stocks rebound
San Francisco Business Times

When drastically lower payments were proposed by the federal agency that sets reimbursement rates for Medicare, a handful of Bay Area companies pledged to fight the changes before they became effective Jan. 1.

Guess what? They won.

Cancer test developer Genomic Health Inc. (NASDAQ: GHDX) of Redwood City as well as thyroid test maker Veracyte Inc. (NASDAQ: VCYT) of South San Francisco and heart transplant test seller CareDx Inc. (NASDAQ: CDNA) of Brisbane said Tuesday that the Centers for Medicare and Medicaid Services agreed to higher rates than those proposed by the agency in September.