Aug 2, 2013 | Digital Pathology, Instruments & Equipment, Laboratory Instruments & Laboratory Equipment, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Sales and Marketing
Many IVD vendors are cautiously optimistic about the “state of the medical lab industry,” but recognize that declining reimbursement for lab tests is now harming many lab organizations
DATELINE: Houston, Texas—Once again, the American Association of Clinical Chemistry (AACC) and the American Society for Clinical Laboratory Science (ASCLS) attracted a large crowd for their joint annual meeting. And, as is true every year, the activity on the exhibit floor provides valuable insights about the state of the clinical laboratory.
Your Dark Daily editorial team was here all week and had conversations with many executives from in vitro diagnostic (IVD) manufacturers, laboratory informatics vendors, and specialty test companies.
Nation’s Largest Trade Show for Medical Laboratory Vendors (more…)
Jul 10, 2013 | Coding, Billing, and Collections, Compliance, Legal, and Malpractice, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing, Managed Care Contracts & Payer Reimbursement, Management & Operations, News From Dark Daily
High Co-pays for Lab Tests May Create a Collection Nightmare for Clinical Laboratories
As new facts about the prices of premiums and the amount of patient co-pays for California’s health information exchange—called Covered California—are published, the news is not likely to be favorable for clinical laboratories and anatomic pathology groups in the Golden State.
Of particular note is that Covered California has published a requirement that patients will be charged a $35 co-pay for medical laboratory testing. Some lab industry executives have pointed out that it will be a challenge to collect these co-pays. They expect labs will incur higher costs attempting to collect these co-pays while at the same time seeing a substantial increase in levels of bad debt. However, all of this will not happen until 2014, when Covered California begins providing health insurance coverage.
For one category of insured beneficiaries, there is a bit of good news. Insurance exchange premiums for individuals not covered by employer health plans will be lower than previously expected. Covered California will charge, on average, $321 per month on average for the “Silver,” medium-tier plan, noted Peter V. Lee, Executive Director of Covered California, in a report published by the Wall Street Journal. (more…)
Jul 8, 2013 | Coding, Billing, and Collections, Digital Pathology, Instruments & Equipment, Laboratory Hiring & Human Resources, Laboratory Management and Operations, Laboratory News, Laboratory Sales and Marketing, News From Dark Daily
Clinically integrated networks is one market trend in response to shift away from fee-for-service payment and toward value-based provider reimbursement
One fast-developing trend is that of academic centers forming integrated networks with various providers within a community and a surrounding region. This is related to a movement to establish accountable care organizations (ACOs). But it is also a response to actions by payers to narrow their networks and exclude high-cost providers, such as academic centers.
This business model has a mutual goal. Each integrated network is anchored by an academic medical center and is designed to foster closer interaction between the academic subspecialists and the wider clinical community. For pathologists and clinical lab managers, such integrated provider networks may often encourage participating physicians to send their reference and esoteric medical laboratory test referrals to the academic center and not to the physicians’ primary laboratory provider. (more…)
Jun 7, 2013 | Coding, Billing, and Collections, Compliance, Legal, and Malpractice, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing
Public scrutiny of exorbitant hospital ‘chargemaster’ prices for health services and medical laboratory tests is growing
Publication by Time Magazine of an in-depth investigation of the exorbitant prices charged to patients by many hospitals continues to cause a stir among both healthcare policymakers and patient advocates. Clinical laboratory executives and pathologists should take note of this public debate.
The exposé was published by Time on March 4 under the title “Bitter Pill: Why Medical Bills Are Killing Us”. It was authored by prominent journalist and entrepreneur Steven Brill, the founder of Court TV. Dark Daily suggests that this is useful reading for pathologists and clinical laboratory managers who want to stay abreast of the trend to provide patients with greater transparency in hospital prices and outcomes. (more…)
May 3, 2013 | Laboratory Hiring & Human Resources, Laboratory Management and Operations, Laboratory News, Laboratory Operations, Laboratory Pathology, Laboratory Sales and Marketing
Agreement calls for both parties to collaborate in offering esoteric and reference anatomic pathology services nationally
It is an effort to align their clinical laboratory and anatomic pathology services to the evolving needs of hospitals, physicians and other providers. To achieve this goal, two laboratory organizations in the Pacific Northwest finalized months of negotiations and inked an agreement that involves an equity investment and the creation of a new esoteric anatomic pathology collaboration.
Yesterday, PAML, LLC, of Spokane, Washington, and CellNetix, based in Seattle, Washington, announced that PAML had completed a minority investment in the technical laboratory business division owned by CellNetix. The two companies also stated that they entered into an agreement to work together to form a “jointly owned national Esoteric Anatomic Pathology reference laboratory offering.” (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…)
