In choppy markets short positions add flexibility

By Covestor

Equity market volatility in August served as a reminder of the potential value of short exposure during a market downturn.

Relatively low net exposure and price declines in short positions can provide flexibility to add modestly to long positions that trade at unreasonably low valuations.

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Cologuard Decision

Cable Car recently published an update on the ongoing effort to encourage the Centers for Medicare and Medicaid Services (CMS) to reconsider the reimbursement rate for Cologuard, a test marketed by Exact Sciences (EXAS).

On August 26, CMS convened a panel to discuss reimbursement for a variety of new and reconsidered codes for 2016.

While the panel voted to maintain the current methodology, they did not discuss the merits of the reconsideration request.

Non-Binding

The panel’s recommendation is a non-binding advisory vote.

CMS is expected to reach a preliminary determination in September.

As mentioned previously, Cable Car believes Cologuard is an important addition to the menu of colorectal cancer screening alternatives, but it should be reimbursed at a level that is cost-effective.

Photo Credit: Ishtaure Dawn via Flickr Creative Commons

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