To amend title XVIII of the Social Security Act to provide for expanded coverage of services furnished by genetic counselors under part B of the Medicare program, and for other purposes.
Sponsored by
Rep. Smith, Adrian [R-NE-3]
ID: S001172
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No campaign finance data available for Rep. Smith, Adrian [R-NE-3]
Industry Impact
Which industries are materially affected by specific provisions in this bill. 3 helped.
- +Hospitals & Health Systemsconfidence 0.90
Section 2(a)(1)(C) adds covered genetic counseling services to Medicare Part B, and Section 2(c) sets payment at 80% of the lesser of actual charge or 85% of physician fee schedule, providing reimbursement for services that hospitals and health systems may employ genetic counselors to furnish.
- +Biotech & Researchconfidence 0.85
Expanded Medicare coverage for genetic counseling services increases demand for genetic testing and counseling, which benefits biotech firms involved in genetic testing, diagnostics, and related research (e.g., Moderna, Regeneron, Vertex).
- +Medical Devicesconfidence 0.80
Genetic counseling often involves use of diagnostic tools and genetic test kits; increased utilization under Medicare may drive demand for associated medical devices and diagnostics (e.g., Abbott, Illumina, Thermo Fisher).