Benchmark notes Nutex Health (NUTX) shares have pulled back this week, which the firm views as a reaction to a lawsuit filed by Blue Cross Blue Shield of Georgia involving two physician provider groups utilizing the “No Surprise Act” independent dispute resolution system to achieve improved reimbursement. BCBS is alleging that the providers and their consultant have submitted claims for IDR that did not qualify for the process, but the firm sees a couple of differences in the circumstances of this case and Nutex’s involvement in the IDR process, the analyst tells investors. As the case plays out, it “could remain an overhang,” but the firm’s model, Buy rating and $300 price target are unchanged.
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