Jun 19, 2015 | Instruments & Equipment, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology
Flow Health Hub device could be disruptive to medical laboratories, as it will be designed to allow patients to perform their own diagnostic tests to monitor pre-existing conditions
Another biotech company has its eye on medical laboratory testing and wants to bring to market what it describes as a consumer do-it-yourself test device. The company is designing the device to let consumers do fitness monitoring. But it hopes the device will also allow consumers to monitor pre-existing conditions without the need to visit a clinical laboratory.
These are ambitious goals for Cambridge Consultants, a health IT engineering and technology development firm in Massachusetts. The device under development is the Flow Health Hub, which company executives say can bring the power of the clinical laboratory into the home, according to a Cambridge Consultants press release.
Though still in the conceptual phase, the developer suggests that the user-friendly device could negate the need to visit medical laboratories for routine tests. That would save time and money for both patients and their doctors. (more…)
Jun 17, 2015 | Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Testing, Management & Operations
Pathologists’ incomes, which declined in 2013, are back up in 2014 and pathologists’ overall job satisfaction remains strong
When it comes to physician income, pathologists rank just below the median out of 25 medical specialties, according to the “2015 Medscape Physician Compensation Report.” The Medscape study for 2015 put pathologist compensation at $267,000.
This represented a 12% increase over the average pathologist compensation of $239,000 that was reported in the “2014 Medscape Physician Compensation Report.”
According to Medscape’s 2015 report, orthopedists are the highest earners, averaging $421,000 a year. At the other end of the scale are pediatricians who earn less than all other specialties with an average annual compensation of $189,000.
All but two physician specialties saw an increase in their earnings this year. The exceptions were rheumatologists and urologists. (more…)
Jun 12, 2015 | Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations
In a trial, the lens-free microscope invention from the UCLA California Nano Systems Institute enabled a board-certified pathologist to detect cancers and other cellular abnormalities at 99% accuracy
One of our favorite innovators is at it again, this time with a device that could eventually allow pathologists to use a device coupled with a smartphone to view cancer and other abnormalities at the cellular level.
At UCLA, Professor Aydogan Ozcan, Ph.D. is already well known for having invented attachments that use a smartphone’s camera to create a tiny, lens-free microscope. Now Ozcan, who is the Chancellor’s Professor of Electrical Engineering and Bioengineering at the UCLA Henry Samueli School of Engineering and Applied Science, has created an inexpensive smartphone device that produces holographic images of tissue samples that allow pathologists to view cancer and other abnormalities at the cellular level, according to a December 17, 2014, Science Translational Medicine (STM) article. (more…)
Jun 10, 2015 | Coding, Billing, and Collections, Compliance, Legal, and Malpractice, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Testing, Management & Operations
As the Medicare program expands telemedicine services, the opportunity may arise for sub-specialist pathologists to offer consultation services across state lines
More use of telemedicine across state borders has long been predicted as a way to improve access to care—particularly for patients in rural areas—as well as to give physicians and patients access to talented sub-specialists. Within the anatomic pathology profession, however, there are probably as many pathologists who view telemedicine across states lines to be a threat as there are pathologists who see it as an opportunity to raise the quality of care.
For its part, the Centers for Medicaid and Medicare Services (CMS) is taking a step forward in supporting the wider use of telemedicine. It is issuing new rules that expand reimbursement for remote patient services, a move that one day could benefit pathologists who provide sub-specialty pathology consultations with referring physicians across state lines. (more…)
Jun 8, 2015 | Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations
When completed, this acquisition means that the third largest public lab company in the United States will be owned by a multinational biopharmaceutical and diagnostics firm
It’s a big medical laboratory acquisition that has some experts on Wall Street shaking their heads. Last Thursday, it was announced that OPKO Health Inc. of Miami, Florida, would pay $1.47 billion to acquire Bio-Reference Laboratories Inc. (NASDAQ: BRLI), the nation’s third largest full-service clinical laboratory. OPKO (NYSE: OPK) is a multinational biopharmaceutical and diagnostics company in Miami, Florida.
No cash is involved in this purchase. OPKO will pay for the acquisition by exchanging 2.75 shares of OPKO common stock for each share of BRLI common stock. The deal puts a value of BRLI’s common stock of $52.58 per share, the companies announced.
The boards of directors of both companies have already approved the deal, which should close in the second half of the year.
(more…)
Jun 5, 2015 | Compliance, Legal, and Malpractice, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Managed Care Contracts & Payer Reimbursement, Management & Operations
Clinical laboratories and anatomic pathology groups should develop business strategies designed to support better patient outcomes and reduced costs for ACO patients
Accountable Care Organizations (ACO) are not only growing in number but some ACOs are also reporting outcomes that indicate their value-based reimbursement model may produce better results for patients than traditional fee-for-service (FFS) medicine.
For the pathology profession, this news further emphasizes the need for medical laboratories and group pathology practices to have a seat at the table during the organization of ACOs so they can make a clinical contribution and negotiate adequate reimbursement from the fixed fees paid to ACOs. At the moment, one big question for labs is how they are to be paid under a value-based reimbursement model. (more…)
