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Photo by John Moore/Getty Images

The gap between what hospitals and physician offices were paid by fee-for-service Medicare for outpatient cardiovascular tests increased between 2005 and 2015, as did the proportion of these tests that took place in hospitals, according to a new study in JAMA Internal Medicine.

Between the lines: When payment rates depended on where the tests were performed, there was a shift in volume toward the more expensive location.

  • The same didn't happen within a comparison group of 3 health maintenance organizations, for which reimbursement wasn't tied to the testing location.

By the numbers: Traditional Medicare paid hospitals 1.05 times more than doctors' offices for testing in 2005. This increased to 2.32 times more in 2015.

  • Meanwhile, the proportion of hospital-based testing increased from 21.1% in 2008 to 43.2% in 2015. In the control group, the proportion decreased from 16.6% to 15.2%.
  • This shift to the hospital setting cost an estimated $661 million in 2015.

Why it matters: Hospitals have fought fiercely against measures to create site-neutral payments, which the Trump administration proposed last year. The rule was recently overturned in court.

  • Advocates of site-neutral payments say they save taxpayers and seniors money.
  • "Site-neutral payments may offer an incentive for testing to be performed in the more efficient location," the authors of the study write.

Go deeper: Why Medicare is going after hospital outpatient rates

Go deeper

Felix Salmon, author of Capital
13 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

Trump nominee Christopher Waller confirmed to Fed board

Christopher Waller at a Senate Banking hearing earlier this year. (Photo: Sarah Silbiger/Getty Images)

The Senate voted 48-47 on Thursday to confirm Trump nominee Christopher Waller to the Federal Reserve Board of Governors — filling one of the two vacant slots on the influential economic body.

Why it matters: It's one of the last marks left on the Fed board by Trump, who has nominated five of its six members.

58 mins ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.