New law will modernize Medicare lab payments: What physicians need to know

Medicare will make sweeping changes in how it pays for clinical laboratory tests starting in 2017. The Protecting Access to Medicare Act, enacted April 1, will make the most significant reform of Medicare’s Clinical Laboratory Fee Schedule (CLFS) since its introduction in 1984, by setting CLFS payment amounts based on rates paid for laboratory tests in the private sector.Medicare’s payment amounts for pathology laboratory services paid under Medicare’s physician fee schedule (PFS) will be unchanged by the new law. Also unchanged will be Medicare’s policy of not imposing coinsurance on (Read more...)

Avalanche Biotechnologies raises $55 million in series B financing

Avalanche Biotechnologies has completed a $55 million series B financing to advance the company’s clinical programs in retinal disorders, according to a press release. This includes Avalanche’s lead product, AVA-101, a treatment for wet age-related macular degeneration. The company, which focuses on gene therapies for serious eye diseases, will invest in manufacturing and clinical infrastructure for its lead program and accelerate the development of pipeline programs based on the BioFactory platform, the release said.