February 26, 2013 / 1:10 PM / 5 years ago

FMC CEO sees slight decline in U.S. pay from 'rebasing'

FRANKFURT, Feb 26 (Reuters) - Fresenius Medical Care expects only a slight reduction in U.S. reimbursement for services and drugs it provides to its dialysis patients from a ruling expected later this year.

When deliberating the payment policy of U.S. public-sector insurer Medicare in a process called rebasing, U.S. regulators would take into effect a decline in the amount of drugs needed for treatment but also the higher drug prices FMC has to pay to its suppliers, the group’s Chief Executive Rice Powell told Reuters on Tuesday.

“We expect reimbursement to be slightly down,” the CEO said.

He also said that automated “sequestration” budget cuts that will take effect in March - unless the White House and Congress agree on stopping them - would cost FMC $70 million this year.

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