Pathology giants see profits soar during pandemic
Medicare has funded more than 14 million PCR tests since the pandemic began
Pathology giant Sonic Healthcare saw its profits rise 149% to $1.3 billion worldwide thanks to intense demand for COVID-19 testing.
Australians have had 42 million COVID-19 tests, with a third of those processed by private pathology labs.
The Federal Government introduced a Medicare item in March last year with a $24.40 rebate for COVID-19 PCR testing.
But it was increased to $85 two months later following a campaign by the private pathology industry, arguing it needed extra cash to increase capacity and meet demand.
