May 1, 2013 | Coding, Billing, and Collections, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Managed Care Contracts & Payer Reimbursement, Management & Operations
For more than a year Medicare contractors have been developing payment rates for the 114 molecular tests and without setting rates, they cannot make payments.
New Orleans, Louisiana, April 30, 2013—Getting paid for molecular test claims submitted under the new molecular CPT codes was a subject of high interest on the opening day of the Executive War College. Most clinical laboratories and pathology groups performing molecular tests nationwide report that they have not been paid for invoices submitted to Medicare contractors since January 1, 2013.
Several sessions were devoted to this important topic. Medicare contractors nationwide have not paid many of the molecular diagnostic test claims submitted since January 1 according to speakers and attendees at the first day of The Dark Report’s 18th Annual Executive War College in New Orleans. (more…)
Apr 29, 2013 | Instruments & Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology
Second-generation device is self-powered, does not require a trained operator, and amplifies the fluorescence signal by 1,000-fold, enabling early detection of cancer
Pathologists will be interested to learn that Japanese researchers have developed a second-generation lab-on-a-chip that detects microRNA (miRNA) from a tiny sample volume in only 20 minutes! Their goal is to create a point-of-care device for early detection of cancer.
This is another example of how a variety of fast-developing technologies are being brought together to create diagnostic testing systems that have capabilities that challenge the clinical laboratory analyzers used in centralized medical laboratories. (more…)
Apr 24, 2013 | Digital Pathology, Instruments & Equipment, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Management & Operations
Manhattan Labs is an early-adopter of the trend toward increased use of lab-specific CRM solutions with the goal of gaining competitive advantage
To improve its competitive position in the tough clinical laboratory testing market of New York City, one medical laboratory company has implemented a cloud-based, lab-specific customer relationship management (CRM) service that delivers real-time information to its sales team in the field and its operations team in the lab.
This is consistent with an important trend gathering momentum within the clinical laboratory industry. That trend is the use of middleware and similar informatics solutions that serve up detailed information about the performance and operation of the lab in real time. Typically, these informatics solutions support real-time management dashboards.
Pathologists and clinical laboratory managers recognize that good client relations can be the difference between retaining and losing clients—and the revenue associated with their medical laboratory test referrals.
(more…)
Apr 22, 2013 | Coding, Billing, and Collections, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Managed Care Contracts & Payer Reimbursement
Columnist Steve Gottlieb, M.D., wrote that “This sort of bungling may be without precedent, even for the Medicare agency”
Since the beginning of the year, most Medicare contractors and private health insurers have not paid clinical laboratories and anatomic pathology practices for molecular diagnostic test claims coded to the 114 new molecular test CPT codes.
This unprecedented situation of labs going unpaid for more than three months has created financial turmoil and uncertainty across the medical laboratory profession. In fact, the question must be asked: Did Forbes columnist Scott Gottlieb, M.D., wake up the nation’s Medicare contractors with his column published on March 27? (more…)
Apr 19, 2013 | Digital Pathology, Instruments & Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology
CommonWell is the name of the new organization formed to create the interoperability that would enable universal access to each patient’s health care records
It was big news in the healthcare IT world when six major healthcare IT companies joined together on March 4 and announced a collaboration intended to develop electronic health record (EHR) systems that are interoperable. That is a goal that can come none too soon for clinical laboratories and anatomic pathology groups.
The collaboration will take the form of an independent nonprofit organization to be called CommonWell Health Alliance. The six companies contributing to the formation of CommonWell are:
(more…)
Apr 17, 2013 | Laboratory Hiring & Human Resources, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Management & Operations
Multi-billion-dollar mega-deal positions Thermo Fisher to offer a broader spectrum of gene sequencing systems to clinical laboratories and pathology groups
Earlier this week, Thermo Fisher Scientific, Inc., (NYSE: TMO) of Waltham, Massachusetts, announced a deal that will shake up the market for next-generation gene sequencing and genetic testing. It will acquire Life Technologies Corporation (NASDAQ: LIFE) of Carlsbad, California.
More IVD Industry Consolidation That Affects Clinical Laboratories
It is another example of consolidation involving two companies that sell products to the clinical laboratory and anatomic pathology sectors of the lab medicine marketplace. It is also a multi-billion dollar transaction. Thermo Fisher will pay $13.6 billion for Life Technologies, or $76 per share, according to a Reuters report. This amount represents an 11.7% premium over the $68 price per share of Life Technologies’ stock when trading began Monday morning. (more…)
