Why iRhythm Technologies Stock Is Tanking Today

Shares of iRhythm Technologies (NASDAQ: IRTC) were tanking on Wednesday, down 18.5% as of 11:30 a.m. EST. The steep decline came after the Centers for Medicare and Medicaid Services (CMS) announced its 2021 Medicare Physician Fee Schedule (MPFS) Final Rule.  

The MPFS Final Rule establishes the payment policies and rates that Medicare will use next year. Investors reacted negatively because iRhythm didn't get everything it wanted.

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Source Fool.com