August 2010

Actions of Ex-Employees Can Breach Lab Security

Laboratory Management / By Robert Michel

CEO SUMMARY: Lab managers should take steps to protect patient data and proprietary information. This includes customer lists, payer contracts, customer-specific pricing, sales force compensation information, lab testing intellectual property, and protected health information. Technology now makes it easy for a departing employee to collect company data by moving it to a USB drive or …

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Specimen Volume Declines Reported By Quest Diagnostics and LabCorp

Clinical Laboratory Trends / By Robert Michel

IN REPORTING SECOND QUARTER EARNINGS, there was enough difference in the numbers announced by Quest Diagnostics Incorporated and Laboratory Corporation of America to catch the attention of financial analysts. Revenue at LabCorp was up for the quarter while revenue at Quest Diagnostics was down for the quarter. But the devil is in the details. Financial …

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AAB’s Suit Prevails over NY State Following 11 Years of Litigation

Laboratory Compliance / By Robert Michel

SCORE A BIG WIN FOR THE GOOD GUYS! An appeals court in New York state has upheld a lower court ruling that the New York State Department of Health (NYSDOH) intentionally overcharged clinical laboratories for the costs of regulating clinical laboratories and blood banks, possibly going back decades. On July 22, the Appellate Division, Third …

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August 2, 2010 “Intelligence: Late Breaking Lab News”

Late Breaking Lab News / By Robert Michel

It was a productive second quarter for MED-TOX Scientific, Inc., of St. Paul, Minnesota. Total revenue climbed 18.1%, to $25.2 million, compared to $21.3 million for the same period in 2009. Operating income grew to $1.5 million, an increase of 176%. Known as a drugs of abuse testing company, MED-TOX saw revenue growth of 5.6% …

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