CMS issued new payment rules Oct. 15 for COVID-19 tests that provide quick results.
Three things to know:
1. Beginning Jan. 1, Medicare will lower the base payment for COVID-19 tests that use high-throughput technology to $75. Labs can get an additional $25 if they provide results in two days or less.
2. CMS explained: "Laboratories that complete a majority of COVID-19 diagnostic tests run on high throughput technology within two days will be paid $100 per test by Medicare, while laboratories that take longer will receive $75 per test."
3. The agency said the goal is to ensure patients who test positive are notified quicker so they can self-isolate and seek appropriate medical care.