Month: October 1997

Quest Diagnostics & SmithKline Release Third Quarter Financials

It appears that 1997 will be kinder to Quest Diagnostics Inc. and SmithKline Beecham Clinical Laboratories (SBCL) than the last three years. Both companies reported improved financial results for third quarter and mixed results for year-to-date. As of press time, Laboratory Corporation of America had not released third quarter earnings. But early indications are that …

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“October 27, 1997 Intelligence: Late Breaking Lab News”

First confirmation that CPT codes for automated cytology are on the way comes from NeoPath, Inc. in Redmond, Washington. The company announced that, effective January 1, 1998, CPT code 88152 will cover the procedure involving NeoPath’s AutoPap® 300 QC System for Pap smear rescreening. MORE ON:… CPT CODES Although other automated cytology CPT codes are …

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National HMOs Having Trouble Digesting All Their Acquisitions

HARD TIMES for the clinical laboratory industry have lasted for at least three years. Now it appears that national HMOs may be in for an extended period of financial difficulty. Earnings reports from major HMO corporations disappointed Wall Street. Cigna, Aetna and PacificCare Health Systems reported bad financial news in recent months. Operational struggles at …

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Consolidation At Presbyterian Encourages Regional Strategy

CEO SUMMARY: Presbyterian Laboratory Services represents one of the more advanced business models of laboratory consolidation found today in the United States. Owned by an integrated delivery system, the laboratory division serves six hospitals and a variety of outreach clients. Several elements set Presbyterian apart from other laboratory consolidations, including its consistently successful laboratory outreach …

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California’s Lab Market To Undergo More Change

CEO SUMMARY: Every laboratory in California continues to operate in a financially-punishing environment. Further shake-outs must occur as the economic forces unleashed by managed care take their toll on clinical laboratories. Expect radical changes to occur within the next 12 months. RUMORS OF A DEAL BETWEEN Laboratory Corporation of America and Unilab, Inc. have no …

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Market Upheavals Around The Corner

In reviewing the galley proofs for this issue of THE DARK REPORT, I am struck by the potential for significant market upheaval in two areas of laboratory medicine: pathology and the clinical laboratory marketplace of California. The stories about AmeriPath, Inc. and California laboratories contain some interesting market analysis and predictions about future events. For …

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AmeriPath Successfully Completes Public Offering

CEO SUMMARY: AmeriPath’s new status as a public company gives it even greater visibility than before. As the first public pathology-based physician practice management firm, AmeriPath has the potential to introduce many innovations into the business organization of pathology services. With the IPO behind it, AmeriPath now faces hard work. WEDNESDAY, OCTOBER 22 was the …

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California’s Rumor Mill Links LabCorp & Unilab

CEO SUMMARY: Continued financial pressure on all laboratories operating in California leads some industry observers to believe that Laboratory Corporation of America and Unilab might be considering some kind of deal between the two companies. Senior executives at both laboratories say such talks are nonexistent. FOR ALMOST TWO WEEKS there has been ongoing speculation that …

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Ohio Hospital Lab Lawsuit Tossed Out By The Judge

CEO SUMMARY: Hospitals in Ohio now find themselves at square one again in their efforts to stop federal prosecutors from continuing the statewide investigation of laboratory billing practices. The judge’s legal ruling denied jurisdiction to hear the case and did not address any of the arguments for or against the plaintiffs’ case. STATING THAT HER …

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Rural Hospital Succeeds With Lab Outreach Service

CEO SUMMARY: Laboratory administrators at rural hospitals generally believe there is no point in establishing a laboratory outreach program. Potential clients are few, and distances between small towns are great. But neither of these obstacles prevented Olympic Memorial Hospital from successfully offering laboratory outreach services to its rural market area. Olympic even acquired an independent …

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